Search

×

Airbnb nabs Luxury Retreats

Tech giant Airbnb has acquired Montreal-based Luxury Retreats, a luxury vacation rental company with over 4,000 homes in 100 destinations around the world.

Luxury Retreats CEO Joe Poulin will join Airbnb and lead the company’s luxury home sector. Though details of the acquisition weren’t released, sources who spoke with Bloomberg said the cash and stock deal was worth roughly $300 million. Those same sources said that both Accor and Expedia had also put bids in.

Luxury Retreats will continue to operate as a standalone entity, with listings ultimately highlighted and integrated into Airbnb. All of the approximately 250 Luxury Retreats staff members will be brought on to Airbnb.

Comment