AccorHotels has begun exclusive negotiations for 100 per cent acquisition of private vacation rental company Travel Keys.
Founded in 1991, Atlanta-based Travel Keys is a travel broker representing a luxury collection of over 5,000 villas in more than 100 destinations across the Caribbean, Mexico, Hawaii and the United States, Europe, Asia and Africa.
The combination of Travel Keys with onefinestay and Squarebreak will provide AccorHotels with an offering of about 8,500 addresses in the luxury private rental market, with properties in both the vacation and urban segments.
The transaction is expected to close in Q2 2017 after customary due diligence.
Sebastien Bazin, chairman and CEO, AccorHotels, said, “We are extremely pleased to have Bobby Gibson and his team join the AccorHotels family. They have built a robust business over the years that will be instrumental in our strategy to create the number one luxury private rental player in the world. Travel Keys brings an impressive portfolio of premium properties to our existing activities. This acquisition further demonstrates our agility and dynamic approach to offer comprehensive services to our clients.”
Bobby Gibson, CEO, Travel Keys, added, “We feel a strong link with the AccorHotels’ teams, and share in the vision of both Sebastien Bazin and the private rental leaders at AccorHotels about the future of our industry. We are enthusiastic about this partnership, writing a new and exciting chapter of Travel Keys’ story. Our objective is to offer extraordinary experiences to our guests – the best homes in the best locations with the highest level of service. At the same time, we cater to extremely demanding hosts who find their unique assets mismatched to the mass market offerings found in emerging peer to peer marketplaces.”