Airbnb announced today that it has signed an agreement to acquire the HotelTonight last minute hotel booking application for an undisclosed sum. The acquisition comes just over a year after Airbnb first launched Airbnb Plus, a subsection of its service that includes boutique hotels and traditional bed and breakfasts.
Airbnb had been working for years to expand its rental housing market to a trip. Platform, which now includes concierge services and optional tours for selected reservations. Since the launch of Airbnb Plus and the addition of more hotel availability, the company said it tripled hotel reservations on its platform between 2017 and 2018.
Working with hotels should also facilitate the entry of Airbnb into certain markets that have more stringent housing regulations about who are allowed to rent your property for short stays. According to Recode HotelTonight was valued for the last time at $ 450 million. Airbnb, on the other hand, has a value of $ 31 billion and is expected to present an initial public offering sometime this year.
According to a press release, the HotelTonight application will continue to operate as usual, but the supplies are likely to also be available through the Airbnb Plus portal.