The hotel industry has fought short-term rental companies like Airbnb tooth and nail. But, in a rare move, Hyatt Hotels has aligned itself with what some might perceive as a rival.
Hyatt has invested in onefinestay, a vacation rental marketplace that matches travelers with luxury homes. While it is unclear preciecly how much Hyatt invested, a source told the Wall Street Journal that the investment “was part of a nearly $40 million round of funding that was completed at the end of last year.”
Onefinestay works with upscale homeowners in London, New York, Los Angeles and Paris. It manages a portfolio of more than 2,500 homes with a combined value of more than $5 billion, according to the Journal.
Onefinestay CEO Greg Marsh declined to comment on his relationship with Hyatt.
A Hyatt spokesperson said in a prepared statement that it is “collaborating with onefinestay” and that it will “continue to test a variety of offerings, work with a number of companies and make investments to continue innovating the guest experience.” [WSJ] – Christopher Cameron
– See more at: http://therealdeal.com/blog/2015/05/25/a-hotel-giant-is-getting-behind-the-short-term-rental-movement/#sthash.I8q8WsvH.dpuf
