Airbnb is officially getting into the luxury vacation home business
Now nearly 10 years later, Airbnb has expanded from a cheap air mattress in a crowded city apartment to renting out townhouses in Tuscany or geodesic domes in Californias.
These avant garde and luxury rentals are only increasingly a priority for the company looking to expand beyond its urban roots. On Thursday, Airbnb announced that it had acquired Montreal-based Luxury Retreats, which boasts properties like an eight-bedroom villa in Turks and Caicos.
Bloomberg first reported the deal and pegged the acquisition cost at under $300 million.
For now, Luxury Retreats will remain its own standalone company, but Airbnb will be working to integrate the listings into its own search results over time. Airbnb already has 3 million listings on its home-sharing platform, which includes over 1,400 castles, but the acquisition of Luxury Rentals will bolster its use among wealthy clientele that are looking for longer vacation rentals in places that are considered more traditional vacation destinations.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas