OneFineStay plans business travel expansion via MagicStay deal

Tuesday, February 20, 2018

OneFineStay that is an upmarket rental brand owned by AccorHotels is eyeing corporates as part of an ongoing expansion plan with an aim to accomplish the goals of high-end business tourists.

This agreement comes amidst a few high-level exec changes that take place at the UK-based OneFineStay.

Over 1,000 of the properties of the site are in locales like New York, Los Angeles, Paris and London and would be included in the MagicStay network of corporate travel-focused rental properties.

This deal would add to the 150,000 rental properties already on the MagicStay platform that represents a figure that has increased steadily since its launch in the year 2014.

OneFineStay presently boasts of a total of 10,000 luxury properties.

The agreement comes nearly two years on from OneFineStay’s $160 million deal to sell to AccorHotels.

Since then the brand has witnessed the back of two CEOs. The original boss Greg Marsh had left a short while after the acquisition and Evan Frank had left in the summer of 2017. Deputy CEO Kevyan Nilforoushan had also left in September last year.

The booking site MagicStay that is inclusive of properties in city center locations or close to conference venues has been able to raise €1.5 million from a group of angel investors.

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