Airbnb buys last minute hotel reservations service HotelTonight

Airbnb has announced an agreement to acquire the HotelTonight last-minute hotel reservations website to include these establishments in its offer, an operation for which neither party has provided the financial terms of the agreement. A valuation in 2017 made by PitchBook Data, encrypted the value of HotelTonight in 463 million dollars (more than 413 million euros).

In a statement, Brian Chesky, co-founder of Airbnb, stressed that this agreement will allow the vacation rental platform to offer guests an unparalleled «last minute travel experience» that will provide a unique and memorable hospitality on each trip, in any schedule, at any time. »

«A big part of building a complete travel platform is having the ability to accommodate all guests, whether they plan their trip a year or a day in advance,» he added.

Airbnb last year bought Luxury Retreats, a Canadian luxury vacation rental company that offers more than 4,000 homes in 100 destinations around the world, for about 300 million dollars (almost 268 million euros), which was the higher disbursement so far.

Founded in 2010 by businessmen Sam Shank, Jared Simon and Chris Bailey, HotelTonight specializes in offering last minute discounted prices in hotel rooms that have not been booked. Based in San Francisco (United States), it has more than 15 million users and its market is mainly focused on the entire American continent, Europe and Australia.