airbnb acquires luxury retreats beating out expedia accor
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Airbnb acquires Luxury Retreats, beating out Expedia, Accor

Arab Today, arab today

Arab Today, arab today Airbnb acquires Luxury Retreats, beating out Expedia, Accor

Airbnb
San Francisco - Arab Today

Airbnb bought Luxury Retreats in its biggest acquisition yet as the apartment-rental website takes steps toward becoming a full-service global travel company.

Airbnb unveiled the acquisition of the Canadian manager of high-end rentals and services on Thursday, declining to disclose financial terms. The cash and stock deal was worth roughly $300 million, people familiar with the matter said. Bloomberg reported the two were in talks last week. 

Accor, Europe’s biggest hotel operator, and Expedia, the global online travel giant, also bid for Luxury Retreats, people familiar with the matter said. Those companies’ cash offers were bigger, but Luxury Retreats decided on Airbnb partly because its founder, Joe Poulin, foresaw having more control than at those other firms, said the people, who asked not to be identified because the discussions were private.

Airbnb, Luxury Retreats and Expedia declined to comment on the bidding process. Accor didn’t immediately have comment.

Luxury Retreats, with more than 4,000 properties around the world, has built a concierge service that Airbnb will be able to offer to its customers. Premium vacation-home rentals are a key growth area for the travel industry, which seeks greater profit margins on properties rented to wealthy globe-trotters.

Luxury Retreats will remain based in Montreal, and Poulin will lead the San Francisco parent company’s luxury homes division, reporting to Airbnb Chief Executive Officer Brian Chesky, the company said in a statement.

Accor said this month it was in negotiations to buy Travel Keys, a broker of private villas in the Caribbean, Florida and Mexico, adding to its 150 million euro acquisition of luxury home rental site Onefinestay last year. Expedia is expanding its vacation listings business HomeAway, which has its own high-end division called Luxury Rentals. The heads of HomeAway and Onefinestay both left their companies soon after they were acquired.

Source :Times Of Oman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

airbnb acquires luxury retreats beating out expedia accor airbnb acquires luxury retreats beating out expedia accor

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

airbnb acquires luxury retreats beating out expedia accor airbnb acquires luxury retreats beating out expedia accor

 



GMT 00:19 2017 Wednesday ,20 September

France's Macron to meet Italian PM on Sunday

GMT 04:41 2015 Monday ,23 March

Kuwait's Wushu-kung fu championship ends

GMT 06:40 2017 Tuesday ,26 September

Palestinian gunman kills three Israelis at settlement

GMT 22:03 2017 Wednesday ,06 September

Pope Francis lands in Colombia to support peace

GMT 10:33 2017 Thursday ,20 April

Smoking to kill 200 million

GMT 02:12 2017 Friday ,14 July

Israel arrests "terror plot" Palestinians

GMT 11:32 2017 Thursday ,13 April

Malala Yousafzai becomes youngest ever

GMT 11:03 2012 Sunday ,05 August

Activist Jamal Al-Amwasi

GMT 13:48 2017 Tuesday ,21 November

Family ends row over legacy of artist Arman

GMT 23:11 2018 Thursday ,11 October

GCC renewable energy discussed in Kuwait

GMT 08:45 2011 Tuesday ,27 September

Tyra beautiful in pink

GMT 08:47 2018 Tuesday ,16 January

Football: Giggs set to be named as Wales boss

GMT 15:03 2011 Tuesday ,19 July

Al-Maliki voted Iran’s worst PM

GMT 08:36 2017 Monday ,25 December

Ashes gone, pride at stake for wounded England
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday