Onefinestay

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onefinestay
Private
Industry Travel
Genre Travel agency
Founded 2009
Founder Greg Marsh
Demetrios Zoppos
Tim Davey
Evan Frank
Headquarters London, United Kingdom
Area served
London, New York, Paris, Los Angeles, Rome
Products Hospitality
Website http://www.onefinestay.com

onefinestay is a hospitality company headquartered in London founded in 2009.[1]

onefinestay operates in London, New York, Paris, Los Angeles and Rome. The company provides a service to owners of distinctive and upmarket homeowners, by enabling them to let out their home to guests while the home is unoccupied.[2]

As of April 2016, onefinestay has 2,600 private homes in its collection.[3]

In May 2016, onefinestay became a member of the British Hospitality Association.[4]

Origins and history[edit]

The idea behind onefinestay was thought up by CEO and co-founder Greg Marsh in 2009, following a trip to Pisa. A tip off from a local friend took him off the beaten track to Piazza delle Vettovaglie. He realised he’d never have experienced Pisa the same way if he hadn’t had this connection with someone who lived there. When Marsh returned to his flat in London he had a second realisation: it had been empty while he was abroad, and every time he travelled someone else could be experiencing London while staying in his home.[5] Marsh’s home was the first to be listed on the onefinestay website.

Founded in 2009, onefinestay launched its unique concept in London in May 2010 with just six homes. Over the course of 2011 the business grew tenfold, and soon expanded internationally, launching in New York in May 2012, and in Los Angeles and Paris in September 2013 before launching in Rome in March 2016.[6][7][8][9]

In April 2016, AccorHotels acquired onefinestay for at least $170 million (£117 million). The company is also committing to a $70 million investment in Onefinestay (£50 million) over the next few years.[10]

4 months following Accor's acquisition of onefinestay, Greg Marsh resigned in September 2016. [11]

Funding[edit]

Marsh, along with Demetrios Zoppos and Tim Davey founded onefinestay in September 2009, and raised a small amount of seed funding from family and friends in 2009.[12]

The website launched in May 2010 with just six homes listed. In February 2011, onefinestay raised $3.7 million Series A funding in a round led by Index Ventures. Other angel investors included Brent Hoberman, co-founder & CEO of Lastminute.com, Andy Phillipps, co-founder of ActiveHotels, and David Magliano, former Director of Marketing for London’s 2012 Olympic bid.

In June 2012, the company announced a $12.2 million Series B funding round, led by US venture capital firms.[13]

In June 2015, the company announced a $40 million Series D funding round. The round included participation from investors including Intel Capital, Quadrant Capital Advisors, and leading global hospitality brand Hyatt Hotels, as well as a number of angel investors including Joss Kent, CEO of &Beyond and former global CEO of Abercrombie & Kent.[14][15]

Business model[edit]

onefinestay homeowners[edit]

onefinestay allows homeowners to rent out their homes to vetted guests. onefinestay manages everything for the homeowner including all reservations. Its in-house housekeeping team prepares everything for the guests’ arrival. They will clean the house before the guest's arrive and also after they leave. They will also put away any valuables the homeowner does not want on display. Members keep onefinestay up to date on their home's availability using an online calendar.[16]

Once a homeowner has been selected to join the service, the company turns down 9 out of 10 homes, onefinestay learns everything about the home, enabling them to answer any guest queries.[17][18]

The homes listed range from one-bedroom apartments to town houses and boats. The home owners earn an income from a home which would otherwise sit empty.

Guest Experience[edit]

Travel advisors help guests find their home. Before arrival, each home is prepared, by onefinestay staff, with white sheets, towels and toiletries. All guests are welcomed on arrival, and the onefinestay team is on call 24/7. Guests are given a onefinestay iPhone, with unlimited data and local calls, as well as local neighbourhood recommendations from onefinestay homewowners.[19][20]

Travel Trade and partners[edit]

onefinestay works with hospitality distribution partners and travel agents. The company has Virtuoso status and also work with Centurion (the travel agent from American Express) and Signature.[21][22]

Guestbook[edit]

Guestbook is onefinestay’s inhouse magazine, given for free to members of onefinestay who list their homes with the company, as well as guests who stay in homes.[23]

A journal about living beautifully, Guestbook is intended to capture the novel concept and lifestyle choice represented by the company’s proposition, which goes beyond offering a new way of travelling or a smart way of earning an extra income.[24]

Alex Bagner joined onefinestay in September 2012 from Wallpaper*, where she was a senior editor and is now onefinestay’s Head of Editorial.[25]

Sherlock™[edit]

Sherlock™ is onefinestay’s patented keyless entry technology. Consisting of a physical device and a smartphone app, Sherlock enables secure keyless access to all types of homes including apartment buildings and walk-ups by using a mobile phone.[26][27]

Reception[edit]

The Guardian described onefinestay as “a fantastic option for staying in London” as it is “Better than house-sitting, in that you have no responsibilities, more interesting than a self-catered property or serviced apartment because the owner's possessions, their style, their touch and their personality remain.” [28] Country Life magazine also encouraged it readers to try onefinestay when they wrote “So next time you're heading into town for a meeting, dinner or trip to the theatre, think twice before booking the familiarity of your usual hotel, and live like a local instead”.[29] This point was echoed by The Financial Times who said "Glitterballs, private lifts and antique cocktails might be fun but how much more compelling is the chance to step into the shoes of a local?".[30] These reviews have also been reflected by the European Startup Awards which named onefinestay as Best Travel and Hospitality Startup in 2011.

References[edit]

  1. ^ http://www.bha.org.uk/bha_news/bha-welcomes-onefinestay-membership/
  2. ^ Strauss, Karsten. "Disrupting the hotel biz: enter the Un-hotel". Forbes. 
  3. ^ https://next.ft.com/content/5d552e26-fa76-11e5-8f41-df5bda8beb40
  4. ^ http://www.bha.org.uk/bha_news/bha-welcomes-onefinestay-membership/
  5. ^ "BRUMMELL BLOG: Greg Marsh". http://www.brummellmagazine.net. Retrieved 20 June 2012.  External link in |publisher= (help)
  6. ^ https://skift.com/2013/09/17/high-end-rental-startup-onefinestay-launches-in-los-angeles-and-paris/
  7. ^ https://techcrunch.com/2013/09/17/onefinestay-paris-la/
  8. ^ https://www.ttgmedia.com/luxury/luxury/onefinestay-expands-in-italy-3307
  9. ^ http://www.afar.com/magazine/how-to-sleep-like-a-local-in-rome
  10. ^ Dillet, Romain. "AccorHotels acquires onefinestay for $170 million". TechCrunch. Retrieved 2016-04-05. 
  11. ^ http://www.businessinsider.com/onefinestay-ceo-greg-marsh-has-left-the-company-2016-9/
  12. ^ "Startups: it's the era of the unhotel". http://www.siliconroundabout.org.uk. Retrieved 27 September 2011.  External link in |publisher= (help)
  13. ^ Ha, Anthony. "onefinestay Series B". 
  14. ^ http://techcitynews.com/2015/06/29/onefinestay-closes-40m-funding-round/
  15. ^ https://skift.com/2015/06/29/onefinestay-to-embark-on-very-deliberate-expansion-with-40-million-funding-round/
  16. ^ https://www.nytimes.com/2015/06/21/realestate/taking-the-work-out-of-short-term-rentals.html?_r=0
  17. ^ http://www.mydomaine.com/onefinestay-host
  18. ^ http://uk.businessinsider.com/using-onefinestay-airbnb-for-the-rich-2015-4
  19. ^ http://www.harpersbazaar.co.uk/travel/travel-guides/news/a36969/live-like-a-local-in-paris-london-newyork-los-angeles-and-now-rome/
  20. ^ http://www.telegraph.co.uk/luxury/travel/100217/onefinestay-review-holiday-homes-and-apartments-to-rent-in-london-paris-new-york-and-los-angeles.html
  21. ^ http://www.travelweekly.co.uk/articles/48875/carrier-and-onefinestay-join-forces
  22. ^ https://www.virtuoso.com/hotels/14027311/onefinestay#.V4YXF_krLIV
  23. ^ https://www.creativereview.co.uk/cr-blog/2013/january/guestbook-an-inviting-new-magazine/
  24. ^ http://www.huffingtonpost.com/emily-elyse-miller/guestbook-3-a-journal-abo_b_3989028.html
  25. ^ http://magculture.com/at-work-with-alex-bagner-guestbook/
  26. ^ https://techcrunch.com/2013/02/01/onefinestay-sherlock/
  27. ^ http://www.dailymail.co.uk/sciencetech/article-2333375/The-smart-lock-lets-open-door-using-just-phone--let-guests-youre-home.html
  28. ^ Bowes, Gemma (June 2, 2011) (21 June 2011). "One fine stay in London". The Guardian. Retrieved 8 February 2012. 
  29. ^ Cooke, Alice (Sept 13 2011). "New places to stay in London – Onefinestay". County Life. Retrieved 8 February 2012. 
  30. ^ Robbins, Tom (Sept 23 2011). "Make yourself at home". Financial Times. Retrieved 10 February 2012.