AccorHotels has taken a 30% stake in Miami-based Oasis Collections, a marketplace for private rentals, for an undisclosed sum.
The French hotel giant is believed to be the first large traditional hospitality company to take a meaningful position in an alternative accommodations business, signifying an evolution in the hospitality and travel industry as a whole.
The funding will accelerate Oasis’ global footprint, expanding from 17 markets to 30 in the US, Europe, Latin America, and Asia by the end of the year, reaching more than 50 by 2018.
The partnership with AccorHotels will also provide Oasis access to powerful distribution and sales networks as well as global infrastructure, particularly in Europe.
Oasis Collection previously raised more than $20 million in funding.
Oasis initiated an aggressive expansion strategy last summer, opening simultaneously in New York, Los Angeles, Paris, London and Barcelona. Further expansion is planned in Austin, Texas; Madrid; Mexico City and Milan by June.
Oasis also plans to introduce a more robust technology platform in the first quarter of the year, including seamless booking and a mobile app featuring city guides, perks for Oasis guests in each destination and direct messaging with local concierges.
Founded in 2009, Oasis is the creator of the ‘Home Meets Hotel’ experience, which combines the quality control and services of a hotel with the authenticity, space and value of a private rental.
The company handles booking, check in and guest services, including complimentary concierge support and access to local amenities, including private members’ clubs.
Co-founder and COE, Parker Stanberry, said: “We appreciate the confidence AccorHotels has in our value proposition, and their expertise and resources will be transformative for Oasis.
“We share the same hospitality DNA and ambition to deliver exceptional experiences to guests all over the world. We have great respect for Accor’s chairman and CEO, Sébastian Bazin, and his commitment to innovation and willingness to shake up the status quo.”