Airbnb will be buying HotelTonight, the San Francisco–based service in which lets people book discounted hotel rooms last minute in 40 countries around the globe. The company did not disclose how much in which paid for the 9-year-old service.
Airbnb’s move mirrors an industry trend going the additional direction. Competing booking sites like Expedia along with TripAdvisor have been branching out by hotels to vacation rentals. HotelTonight was reportedly profitable in 2018. The acquisition could make in which more attractive to investors as the company reportedly prepares to go public.
You can already reserve rooms in boutique hotels, bed along with breakfasts, hostels, along with resorts on Airbnb; adding HotelTonight will make in which easier for people to find hotels to stay in at the last minute when home hosts are already booked, the company said. “Nearly 0% of guests who first used Airbnb to book a hotel room along with returned to our platform for a second trip then booked a home,” according to Airbnb.
“A big part of building an end-to-end travel platform will be serving every guest, whether they plan their trip a year or a day in advance,” Airbnb CEO Brian Chesky said in a statement announcing the acquisition. With HotelTonight, the company “will offer guests an unparalleled last-minute travel experience in which provides unique, memorable hospitality on every trip, on any schedule, at any time.”
Airbnb has more than 5 million listings in 191 countries, nevertheless in which has been trying to fashion itself as an “end-to-end travel platform” before its IPO, which will be widely supposed to happen later This particular year. In 2017, for instance, in which added “experiences,” letting people book cooking classes along with guided tours, although in which hasn’t genuinely brought in a significant amount of revenue, according to a January report inside Wall Street Journal. The HotelTonight acquisition will increase the supply along with diversity of rooms the company has to offer.