Onefinestay, the upmarket rival to Airbnb, lost $21.1 million (£16.6 million) in 2015, its final year as an independent company. The United Kingdom-based firm was snapped up by Accor $168 million (£117 million) in April this year with the French hotel giant promising to invest a further $77 million (£50 million) in the brand to help it grow internationally.

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maddymaddy
8 months ago

An ugly surprise for Accor; OFS was within weeks of running out of cash. When interviewed OFS CEO Marsh said they weren't looking for an acquiror and Accor just came along. Not sure the numbers bear this out -- Marsh's departure was announced abruptly a few months after acquisition.

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