AccorHotels said on Wednesday it had entered exclusive talks to buy concierge service provider John Paul, further beefing up its response to the challenges of Airbnb.

Under the terms of the deal, AccorHotels - the world's fifth-largest hotel group - will acquire 80 per cent of John Paul for about $150 million in equity and debt, with the company's chief executive and founder David Amsellem keeping the remaining 20 per cent, AccorHotels said in a statement.

"The acquisition of John Paul enables us to accelerate our global strategy to position the customer experience at the very heart of our initiatives," said AccorHotels chief executive Sebastien Bazin.

Bazin has long warned that revenue from traditional hoteliers is under threat from companies like Airbnb, who have made it more popular to turn to accommodation other than hotels when on vacation or on business.

His response to the threat of the so-called sharing economy has been a flurry of acquisitions in the sector.

In February, AccorHotels bought a 30 per cent stake in Oasis Collections, an American marketplace for private rentals, and a 49 per cent stake in Squarebreak, a French start-up offering high-end rentals in France. In April, it bought British onefinestay, which specialises in renting out luxury private homes with hotel-style services.

Founded in Paris in 2007, John Paul merged with LesConcierges in 2015, creating a group with a consolidated turnover of $70 million and a combined workforce of 1,000 people across North America, Europe, Africa, Asia and Pacific.

AccorHotels said John Paul's enterprise value (EV) should be close to $150 million, or a ratio of 11 times 2017 EV over estimated core earnings before interest, tax, depreciation and amortization. - Reuters