Airbnb to acquire Luxury Retreats for $200 million

George Sell George Sell Uploaded 10 February 2017


US: Airbnb is making a major move in to the luxury rentals sector with the acquisition of Montreal-based Luxury Retreats.

Described as a full service villa rental company dedicated to creating authentic travel experiences, Luxury Retreats has a rental portfolio of more than 3,000 villas in over 90 destinations.

A source close to the deal was quoted in Bloomberg as saying Airbnb "is deeply interested in the company because of their extremely talented team with deep experience in the luxury segment. Their capability in the luxury sector is unrivalled and complimentary to the capabilities at Airbnb."

Homes on the platform include a villa owned by Francis Ford-Coppola in Puglia, Italy; and Richard Branson's Necker Island.

Commentators say the acquisition fits in with Airbnb's wider remit to continue diversifying its user base and income, ahead of a potential public listing.

Luxury Retreats works on a 20 per cent commission "and in some instances a bit more," depending on the needs of its high-end clientele.


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