Published on : Monday, February 20, 2017
Although nothing was disclosed officially, the estimated price of purchase is anywhere from $200 million to $300 million. while the Luxury Retreats team will remain based in Montreal, Luxury Retreats CEO Joe Poulin will join Airbnb and lead luxury homes, reporting to Airbnb co-founder and CEO Brian Chesky.
Luxury Retreats provides concierge services and access to its support team for guests, as well as having dedicated villa specialists. It currently has a network of more than 4,000 homes worldwide.
Chesky said in a statement that he has spent countless hours with Poulin and his team. And, that level of interest in the serviced and luxury end of vacation rentals suggests Chesky and his team may have similar companies in their sights to acquire.
There were speculations a few months from now that Airbnb may debut a new Airbnb Lux and with the acquisition of Luxury Retreats, that could very well become a reality.
Airbnb’s marketing endorsements over the last couple of years with the high-profile celebrities seem to suggest the company’s willingness to move more toward the luxury space. Interestingly, Airbnb paid for Lady Gaga’s multi-million-dollar home that she stayed in while performing at the Super Bowl in Houston.
The expansion of Airbnb into the luxury segment is much of an organic step. With more than 3 million listings worldwide, it is a common marketing step for the company to expand into diverse business platforms.