Airbnb has revealed plans to purchase the last-minute hotel booking platform HotelTonight for $400 million. The acquisition will allow for the development of an end-to-end travel platform that enables users to track down last-minute Airbnb lodgings as well as hotel accommodations.
“A big part of building an end-to-end travel platform is serving every guest, whether they plan their trip a year or a day in advance,” says Brian Chesky, Airbnb cofounder, CEO, and head of community. “Working with the incredible team at HotelTonight, we will offer guests an unparalleled last-minute travel experience that provides unique, memorable hospitality on every trip, on any schedule, at any time.”
“We started HotelTonight because we knew people wanted a better way to book an amazing hotel room on-demand, and we are excited to join forces with Airbnb to bring this service to guests around the world,” adds Sam Shank, cofounder and CEO of HotelTonight. “Together, HotelTonight and Airbnb can give guests more choices and the world’s best boutique and independent hotels a genuine partner to connect them with those guests.”
Data provided by Airbnb also demonstrates the benefits the deal could have for those who list homes for rental through the platform. The company reports that nearly 90 percent of guests who first used Airbnb to book a hotel room returned to book a home listing for their second trip.
