Onefinestay co-founder steps down as chief exec
Onefinestay co-founder, Greg Marsh, is stepping down as chairman and chief executive of the business after seven years to “move on to new opportunities.” Marsh will continue to serve in an advisory role for the home-sharing platform over the coming months. Onefinestay was acquired by AccorHotels in April for €148m and today employs more than 700 people in offices in London, New York, Paris, Los Angeles, Rome, Sydney, and Miami.

Home rental provider Onefinestay has lost its CEO and chairman Greg Marsh - he is quitting the company this week for "new opportunities".

The departure of its co-founder comes just four months after Onefinestay was acquired by global hotel chain Accor in a €148 million deal.

Marsh's decision to leave is not a huge surprise given that many startup (TLabs here) CEOs find another challenge or simply dislike being part of a larger empire - but the timing may raise some eyebrows as it comes such a short time after the sale.

Onefinestay would not comment on whether Marsh had a personal earn-out period or lock-in clause contained within the acquisition, although he is expected to stay on in an advisory capacity "for the coming months".

In a statement, Marsh says Accor is a "natural partner and strong advocate" for what Onefinestay is doing, adding:

"AccorHotels has a clear vision for how it wants to build the business in the next phase of its development, and I have full confidence in the management team I leave behind me to fulfil that vision." Share this quote

Replacing Marsh as CEO will be co-founder Evan Frank, who moves up from his current role as vice president for the Americas.

Vice president for Europe, Keyvan Nilforoushan, will become deputy CEO.

Accor's CEO for hotel services in northern Europe and Russia, Steven Daines, assumes the additional role of chairman of Onefinestay and will oversee Frank.