Airbnb mulling takeover of vacation rental platform Luxury Retreats
Monday, 10 Feb, 2017
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Home sharing platform Airbnb is reportedly in discussions to purchase high end vacation rental service Luxury Retreats International.
Talks are ongoing with the Canadian firm which represents more than 4,000 properties globally.
According to sources, a cash and stock purchase would cost no more than $300 million, Bloomberg reported.
Neither company has confirmed an impending deal.
"We are always looking to provide our community with access to new and different options, but we have no announcements to make," Airbnb spokesman Nick Papas said.
Luxury Retreats brings in about $150 million in gross bookings a year, and operates a concierge service including availability of private chefs
According to one Airbnb source, interest in Luxury Retreats stems from the ‘extremely talented team with deep experience in the luxury segment. Their capability in the luxury market is unrivalled and complimentary to the capabilities at Airbnb.’
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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