Onefinestay co-founder Greg Marsh is stepping down after seven years as chairman and chief executive “to move on to new opportunities”.
His departure follows the takeover of the luxury home stay business by AccorHotels, although Marsh will continue on an advisory basis for a period of months to ensure a smooth handover of the business.
Fellow co-founder Evan Frank is named as chief executive and Key an Nilforoushan as deputy chief executive, reporting to Steven Daines, AccorHotels’ chief executive for HotelServices for Northern Europe and Russia.
The company employs more than 700 staff and has offices in London, New York, Paris, Los Angeles, Rome, Sydney and Miami.
Marsh said: “I am more than confident about the future of onefinestay. AccorHotels is a natural partner and a strong advocate for the potential of our business model.
“It has been the greatest privilege to work with the fantastically talented team which has made onefinestay so successful. AccorHotels has a clear vision for how it wants to build the business in the next phase of its development, and I have full confidence in the management team I leave behind me to fulfil that vision.”
Sébastien Bazin, chief executive of AccorHotels, added: “Greg has done an extraordinary job as chief executive over the last seven years, devising and creating a brand recognised for innovation and service excellence, and scaling the business into five international markets.
“We are grateful for his continued support through the transition period. We are committed to building on Greg’s work over the coming months and years, to deliver on our distinctive vision for how onefinestay can define and dominate its category.”
Marsh said: “I’m delighted to see Evan take the reins. Having worked closely
with him since the start of onefinestay, there is nobody better equipped to lead the business in the next phase of its growth.”