The acquisition is part of the company's plan to further push its business beyond short-term home rentals and attract a wider variety of travelers.
Home-renting company Airbnb has acquired HotelTonight, an app for finding hotel rooms at a discount. The acquisition is part of the company’s plan to further push its business beyond short-term home rentals and attract a wider variety of travelers.
With this acquisition, Airbnb will expand its inventory by adding a number of listings from hotels.
HotelTonight has raised over $115 million in funding. The firm was last valued at $463 million in a funding round in 2017.
Brian Chesky, Chief Executive Officer of Airbnb, has called the acquisition a big part of building an end-to-end travel platform.
Moving into new businesses outside of homes, Airbnb has added guided tours and activities, luxury homes and restaurant reservations and is pursuing adding transportation services. In early 2018, the company made changes to its site for making it easier for boutique hotels and bed-and-breakfasts to list their rooms.