The exclusive members community, Stay One Degree, which offers more than 3,500 properties in more than 250 locations, confirms up to US$5 million in a funding series led by Mandarin Oriental Hotel Group…
Stay one Degree is an exclusive members community that allows discerning luxury travellers to rent the finest holiday homes around the world directly from like-minded members.
The funding round was led by a strategic investment from Mandarin Oriental and will enable Stay One Degree to accelerate the expansion of its global portfolio of exceptional luxury homes and move into new under-penetrated markets.
The investment also provides Stay One Degree’s fast-growing global network of members with access to new and exclusive experiences, including the launch of a mobile app, a new cutting-edge website, an online concierge service and a range of exciting collaborations with global luxury brands. These investments will enable Stay One Degree to continue to provide the most personalised and curated holiday experiences available in the luxury home rental market.
“We are absolutely thrilled to have closed this Series A funding round and have a new strategic partner and shareholder in Mandarin Oriental, which in my mind is the most luxurious hotel brand in the world, offering legendary service standards and impeccable attention to detail,” said Thomas Bennett, co-founder of Stay One Degree. “We share their core values and obsessive focus on offering our members a unique experience whenever they stay in our homes.”
Co-founder, Jorge Munoz adds: “With the boundaries between luxury holiday homes and hotels becoming increasingly blurred and the needs of the luxury traveller constantly evolving, we are delighted to be partnering with Mandarin Oriental, bringing together our two luxury brands via a strategic partnership. Customers of Mandarin Oriental have for decades enjoyed incredible, personalised service and we look forward to learning from their wealth of expertise in the luxury segment as well as offering a unique and unrivalled range of luxury accommodation and experiences to customers of both brands.”
Stay One Degree and Mandarin Oriental will also look for opportunities to collaborate and develop a range of curated luxury experiences, combining Mandarin Oriental’s legendary service and Stay One Degree’s exceptional luxury homes, that are unrivalled in the luxury home rental market. The two groups will also explore avenues for customers to benefit from exclusive access, privileged benefits and superior recognition across the combined portfolio of destinations offered by both brands.
“We look forward to working closely with Tom and Jorge as they expand their exceptional offering of wonderful homes and services to discerning global travellers. We see definite opportunities for our brands to collaborate together and look forward to exploring ways to introduce new luxury experiences that combine the best of both brands,” said James Riley, CEO of Mandarin Oriental Hotel Group.
Main image credit: Stay One Degree