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Once viewed as budget-friendly hotel alternatives, short-term rentals now dominate the luxury hospitality space. Their demand has gradually risen among affluent travelers seeking more than just accommodation. According to data by AirDNA, luxury vacation properties’ occupancy rates rose from 49.1 percent in 2019 to 55.9 percent in 2023.
“Vacation rentals are here to stay. Experience-led travel has gained momentum, with travelers prioritizing experiences that allow them to connect with their destinations. Luxury travelers are increasingly aware of the benefits of having a ‘home away from home’ — many have tested the experience and become new adopters. In parallel, there’s also increased trust in the short-term rental market as it continues to become more professionalized,” said Dorothée Guiol, deputy CEO of Accor’s luxury short-term rental brand, onefinestay.
New Leadership, New Vision
Onefinestay plans to capture this momentum by strategically focusing on key destinations, guided by a new leadership team. With the recent appointment of five C-suite positions, the company is setting its sights on a bold new vision. The newly appointed leaders include Deputy CEO Dorothée Guiol, Chief Marketing and Digital Officer François Mare, Chief Financial Officer Kelly Wheeler, Chief Legal and Compliance Officer Isabelle Garcin, and Chief Sales Officer Sophie Howse.
According to Guiol, the new positions will strengthen the company’s position as a leader in luxury short-term rentals while expanding its influence in the medium-term space, which focuses on stays of 30 days or longer.
“We now have a team that has the required breadth, knowledge, and experience to grow our business while delivering a best-in-class experience for our guests,” said Guiol. “Many of our executives, including myself, previously worked at onefinestay’s parent company, Accor. We’re ideally positioned to identify and implement synergies with Accor, such as our integration with its loyalty program ALL, which now extends to onefinestay guests.”
With the new leadership at the helm, the brand is zeroing in on select destinations with high demand and the potential for standout guest experiences, including London, Paris, Los Angeles, Italy, the Caribbean, and Costa Rica, an emerging luxury destination.
“We’re focusing on strengthening and increasing our footprint in these destinations in 2024 instead of expanding into new ones. In parallel, we’re growing our portfolio in some of our newly added destinations, such as Paris and New York, as well as in some of our existing destinations, such as Florence, Provence, and St. Tropez, as we want to be the best luxury player in the markets we operate in,” Guiol said.
With the Paris Olympics on the horizon, the company is particularly focused on expanding its presence in the French capital.
“As an international brand under the trusted French hospitality group Accor, which is also the Olympics’ premium partner, we offer a level of personalized service that traditional hotels simply cannot match. We have homes in all corners of the city, so our sales advisors can help guests find the perfect location based on their event tickets to minimize travel during their stay,” Guiol said.
With its sights set on mindful expansion, maintaining consistent quality across its destinations remains a top priority for onefinestay. However, this comes with its own set of challenges, particularly around supply. The demand for luxury accommodations can significantly outpace supply, especially during peak seasons when scarcity becomes even more pronounced. The challenge is not just a matter of quantity but also of maintaining the caliber of the homes.
“Almost 90 percent of homes that apply to be part of onefinestay’s collection are rejected — we have very high standards and aim to keep our quality consistent across the globe. Our Net Promoter Score (NPS) is one of the highest in the industry and has an upward trajectory, in line with ultra-luxury hotels. Because we’re part of the Accor ecosystem alongside other luxury brands like Raffles and Fairmont, we’re always keeping a careful eye on this,” Guiol said.
She continued, “We constantly invest and reinvest in our product starting from the first brand touchpoint guests encounter. This means providing a flawless experience from the moment they engage with us. We’re continuing to advance our technology to design fully bespoke experiences.”
Innovating for the Future
As onefinestay sets its sights on the future, it’s also focusing on the development of its Residence Hotels — a project designed to merge private residences with the full range of services offered by luxury hotels. These properties will include a curated collection of apartments and villas operated as hotels that deliver the experience of refined residential living.
“This new initiative is supported by Accor One Living, Accor’s industry-first platform for developing and operating mixed-use projects and branded living communities. It’s a major milestone for onefinestay, and we’re excited to see this newest vision come to life,” Guiol said.
The brand is simultaneously adapting to the changes in short-term rental laws in cities like New York, where new rules restrict rentals of less than 30 days unless the permanent resident is present. In response to these new legislations, onefinestay shifted its focus on longer stays or “medium-term rentals.”
“After New York City introduced new laws, we adapted our model to focus on medium-term rentals of 30 nights or more. This type of traveler may be relocating temporarily for work or going through a home renovation in the city. They don’t need to worry about lease agreements, setting up cleaning services, or accessing WiFi with us — everything is taken care of. We’re one of the few companies that offer legal rentals in New York City without sacrificing luxury,” Guiol said.
Looking ahead, the brand aims to solidify its leadership in the luxury private rental market and raise the bar for quality, technology, and guest experiences.
Guiol said, “Onefinestay was one of the first players in this segment, and we continue to be a market leader. We hope to be seen as an industry benchmark in terms of quality, technology, experiences, and the overall guest experience.”
To find out more about onefinestay, visit onefinestay.com
This content was created collaboratively by onefinestay and Skift’s branded content studio, SkiftX.
