AccorHotels has begun exclusive negotiations for the acquisition of 100% of Travel Keys, a private vacation rental provider.
Founded in 1991, Travel Keys is an elite travel broker representing a luxury collection of over 5,000 villas across more than 100 destinations in the Caribbean, Mexico, Hawaii and the US, Europe, Asia and Africa.
The Atlanta-based company focuses on guest satisfaction, offering professional vacation planning and 24/7 concierge services.
The combination of Travel Keys with Onefinestay and Squarebreak will provide AccorHotels with about 8,500 addresses in the luxury private rental market.
The deal is expected to close in the second quarter of 2017.
Sebastien Bazin, chairman and CEO of AccorHotels, said: "We are extremely pleased to have Bobby Gibson [Travel Keys CEO] and his team join the AccorHotels family. They have built a very 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."
Gibson 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."