The French hotel group has also committed a further £50 million to help the company “scale internationally”.

Rival hotel group Hyatt previously had a stake in Onefinestay. Other investors included Intel Capital, Quadrant Capital Advisors and Index Ventures, according to the Financial Times [subscription].

Onefinestay operates in the luxury segment and was launched in 2010. It operates in London, New York, Paris, Los Angeles and Rome.

The company will remain an independent business unit within the AccorHotels Group and will continue to be led by chief executive and co-founder Greg Marsh and the key management team.

AccorHotels already had a small foothold in the market with stakes in niche operators Squarebreak and Oasis Collections.

Sebastien Bazin, chairman and chief executive of AccorHotels, said: “Onefinestay has successfully captured a sweet spot: a combination of needs that neither traditional hotels nor new actors of the sharing economy can meet.

“With the acquisition of this exceptional brand, unique operating model and outstanding management team, AccorHotels is developing as the worldwide leader of the serviced homes market.”

Greg Marsh, co-founder and chief executive of Onefinestay, said: “AccorHotels’ investment in Onefinestay is a tremendous invitation for us to write the next chapter in our story.”

With the home rental market continuing to grow, it was only a matter of time before a major hotel group made a significant acquisition.