Luxury Home Rentals & Travel: OneFineStay versus AirBnB
As the luxury real estate rental market takes off, service becomes a differentiator.
In 2009, Greg Marsh, CEO of the hospitality company Onefinestay, was on a trip to Pisa, Italy. He loved wandering off the beaten path to Piazza delle Vettovaglie and realized that he would never have ventured to the area if he had not had a friend living there. When he returned home, Marsh realized that his empty flat could have been occupied by someone else while he was on his trip. He also noticed that so many apartments in London were empty or half-occupied while the hotels nearby were booked to maximum capacity. He decided right then and there to launch his own luxury hospitality company, similar to AirBnB in concept, but focused on the luxury market. He launched the company Onefinestay with co-founders Demetrios Zoppos, Evan Frank and Tim Davey, and listed his own home as the first property on its new website in May 2010.
Venture Capital, Private Companies
Both Onefinestay and AirBnB are privately funded companies. While AirBnb launched in August 2008, Onefinestay launched two years later. Onefinestay succeeded in raising Series A funding of $3.7 million from Index Ventures in 2011, followed by a second round raising $12.2 million Series B funding by US venture capital firms. Then in June 2015, Onefinestay scooped up $40 million Series D funding with investors that included Hyatt Hotels and Intel Capital. By April 2016, Onefinestay was acquired by AccorHotelsfor $170 million (£117 million).
Today Onefinestay operates in London, New York, Paris, Los Angeles, Rome, Hawaii, Mexico and the Caribbean with over 2,600 private luxury homes under management. Recognized by the British Hospitality Association, Onefinestay is based in London and enables owners of luxury homes to rent out their properties to guests when the homes are unoccupied.
At 10,000 properties, Onefinestay is significantly smaller in size than AirBnb which has over four million locations worldwide. However, its return on investment per property is significantly higher as well. While Airbnb charges homeowners anywhere between 3 and 5 percent, Onefinestay charges homeowners a 50/50 split. This may seem steep,but the cost of rentals is also significantly higher, and enables these homeowners to rent out properties that would otherwise lay idle and unoccupied. Onefinestay also insists on security, privacy and ensuring the comfort of homeowners in renting out their luxury accommodations to guests.
Onefinestay differentiates itself from AirBnB by its emphasis on luxury and service. This includes attention to detail from the guest’s arrival such as having a friendly face greeting guests, high quality sheets and toiletries as well as 24/7 service as desired by the discerning traveler.
“We are not just putting up a website and allowing others to list their homes and then transact,” says Evan Frank, Onefinestay co-founder. “We are actually taking full accountability for the experience.” The company takes pride in accurately listing each property with a beautiful presentation including background information and photos. They take the time to get to know the property owners well and understand all aspects of the property itself. This is significantly different from AirBnb that does not require such careful curation for each individual property.
Partners include Centurion, the travel agent from American Express) and Signature.
Onefinestay uses Sherlock, its own patented keyless entry technology that enables keyless entry with just a cell phone. Onefinestay also provides guests with its own free luxury in-house magazine called Guestbook, run by Alex Bagner, the former editor of Wallpaper, the well-known, distinctive architecture and design magazine.
Onefinestay co-founders insist that their business model and approach is different from AirBnb as they focus on “providing an end-to-end, high touch management service for our homeowners.”
Without a doubt, the luxury real estate tourism industry has been growing in recent years, even faster than the travel industry as a whole, according to a report by Amadeus. Catering to this clientele requires more attention to detail and providing an impressive experience through concierge services and extended support that can range from having a personal chef to providing special entertainment tickets – all at the beck and call of the luxury traveler. Onefinestay provides its guests with a Higher Living app for up to a full year after their travel experience to help them stay connected.
It is clear that the luxury real estate rental market is in hot demand and expected to only grow for the foreseeable future. Who will own this growing market and be the top preferred choice among discerning luxury travelers? The answer remains to be seen.
It’s no secret that green has been trending in a major way lately. Not only does the leafy shade conjure the sensation of being outdoors after two years cooped up at home, it also is a versatile (and welcome) alternative to traditional colors like white and gray.
Sweet 3 bedroom home that has a light and airy feel to the interior. Vaulted ceiling with open concept design creates a welcoming feel with plenty of natural sunlight all afternoon. Hardwood floors in bedrooms. Updated interior ready to be moved in to. It is a special place to call home or cottage.
Large wrap-around deck features West-facing views of 2-acre park of which you would be a 1/10th owner. Private dock for all park owners. Deeded Lake Simcoe access is rare to find. Very private setting with mature trees.
Message us today for more information or to book private showing.
staging by @chateau_designandstaging
photography by @ishutterphoto
20 Quiet Heights Lane, Georgina provides views of the lake from all spaces on the west side of them home, including the great room, kitchen, dining area, and primary bedroom.
You will enjoy the morning sunrise from the front covered porch and of course, sunset views from the lakeside. The natural sunlight fills the home with warmth and light all day long. It’s tranquil, serene, and welcoming.
In the design stages, the current owner had some important “must-have’s” including a Muskoka like feel, spaciousness, sun-filled rooms, and an “understated elegance“ carried throughout the home.
Some of the interior features include:
– 3 bedrooms on main level and 2 additional bedrooms on the lower level
– 3 full bathrooms plus powder room
– 10.9 ft ceiling height on the main level and 9 ft ceiling height on the lower level
– Great room includes custom millwork and 13 ft vaulted coffered ceiling
– Gourmet kitchen with upgraded appliances
– Spectacular light fixtures including ceiling fans in each bedroom
– Custom drapery and blinds
– Radiant heated floors in kitchen, primary ensuite and the entire lower level
– Surround sound system both indoors and outdoors
A full list of room features, additional images, virtual tour, and more can be found on our website (link in bio).
This listing is also available on realtor.ca (MLS# N5657656)
When you combine the attention to detail of a quality builder with the owner’s vision to create a sanctuary home, the result is spectacular.
This home offers a “Zen” feel immediately upon your arrival.
The landscaping is wonderfully appointed with a collection of perennial gardens, shrubs, mature trees and privacy hedges on both sides, which is home to many birds. There are several seating areas promote great conversation with family and friends or a place to enjoy some quiet time when you want to be alone and enjoy nature all around you.
This is a wonderful home to entertain in both indoors and outdoors. The raised balcony includes a covered area where you can enjoy a summer rain shower. The open area provides lots of space for your chaise loungers to get some sun and watch an array of boats on the lake.
The lower deck is covered and a perfect location for the 7-seater plus lounger hot tub along with another separate seating area to enjoy the lake views.
Listing Price: $1,935,000
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The full listing can be found on our site & on realtor.ca (MLS# N5657656)
This charming 3+1 bedroom century home is located in an established area of Sarnia offering lovely streetscape, large mature trees, wide streets and boulevards.
The family have maintained the home and updated the interior features over their many years living here since 1975. The shingles were replaced in 2022. There were two additions including a a two-storey addition with a large family room, sun room and additional bedroom on the 2nd floor.
There is lots of space to entertain family and friends. The living room includes a gas fireplace and overlooks the formal dining room. The sun room includes a gas fireplace, large windows and double patio doors.
The oversized fully finished & insulated 3-car garage includes an upper level coach house which is completely finished. This is a great space for extended family and serves as an in-law suite or potential income if approved by the City as an auxiliary dwelling.
The mature front yard boasts beautiful mature trees, gardens and a seating area. The backyard has a large paved courtyard and provides parking for 3 vehicles.
PM is to book a showing today.
Staged by @chateau_designandstaging
Photos by @ishutterphoto