May252015

Hyatt invests in OneFineStay luxury home rentals

OneFineStay.com is a home rental agency for luxury homes in London, Los Angeles, New York and Paris with an average market price around $2 million. Recent industry news indicates Hyatt Hotels participated in a $40 million investment in the business last year.

One Fine Stay launched in 2010. The idea came to co-founder Greg Marsh while walking through the Mayfair area of London one evening and seeing most of the homes had no lights on and appeared unoccupied.

People with money travel. This leaves many unoccupied homes at any given time.

I checked OneFineStay for one week in July and nearly 300 properties were available in four cities. When I checked a week in November 2015, there were more properties for London and Paris and fewer properties for Los Angeles and New York.

July 6-13, 2015

London = 135 properties

Los Angeles = 45 properties

New York  = 58 properties

Paris = 51 properties

One Fine Stay had 135 London properties listed for July 2015 rentals.

OneFineStay Mayfair

OneFineStay.com rental on Grosvenor Street, Mayfair, London at $360 per night. Standard Rate at $2,523 ($360/night) for a seven-night stay allows cancellation up to 14 days before arrival for a 50% refund. Flexible rate at $2,993 ($428/night) allows cancellation with full refund, minus a service fee, up to 48 hours before arrival.

Guest receives an iPhone to use for the stay.

I wrote an article last week about the Airbnb effect on midscale lodging and I suggested Airbnb is partially responsible for the recent enhancements improving the value of hotel points in Choice Privileges and Wyndham Rewards hotel loyalty programs. I also suggested the impact of Airbnb may play a role in the reduction of prices in the upper upscale hotel market in the future.

Loyalty Traveler – Airbnb effect makes 2015 year of the midscale and economy hotel chains (May 18, 2015)

Looks like Hyatt Hotels is making a proactive move to become part of the upper upscale home rental market with their $40 million investment in OneFineStay.com.

$300 to $400 per night is not cheap for a nightly rental through OneFineStay, but likely cheaper than staying at a London Hyatt hotel with more room to spread out as a family rental or short term business rental property in London.

The real game changer will come if Hyatt Gold Passport sets up an earning and burning scheme with OneFineStay.com to bring home rentals into the realm of hotel loyalty programs.

Herald CitizenHyatt Hotels Makes Investment in Home Rental Startup (May 24, 2015)

OneFineStay.com

 

Article update May 25, 2015: Originally this article stated Hyatt invested $40 million in OneFine Stay. Hyatt was part of a $40 million investment round.

About Ric Garrido

Ric Garrido of Monterey, California started Loyalty Traveler in 2006 for traveler education on hotel and air travel, primarily using frequent flyer and frequent guest loyalty programs for bargain travel. Loyalty Traveler joined BoardingArea.com in 2008.

More articles by Ric Garrido »

Comments

  1. my family of 5 used one fine stay in NYC last Thanksgiving. It was a bargain compared to the upcharge a lot of hotels wanted for thanksgiving week. And a lot more room. Maybe since they are based in the UK we got away with a deal? We loved staying in SOHO but pay attention to the fine print. It said some noise from street. It was as if the windows were wide open! Thank goodness I travel with ear plugs! Ugh. Saying it was luxury in NYC is a stretch. I’d try them again, but maybe they’d be more selective in Paris and London properties. 2 years earlier we did a small condo for 3 through VRBO and it was nicer. Just sayin.

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