Airbnb buys Montreal-based Luxury Retreats to bolster high-end vacation offerings

In an effort to appeal to higher-end clientele, Airbnb acquired the Canadian vacation home rental company, Luxury Retreats International Inc. The new addition will help Airbnb compete against Expedia’s HomeAway and VRBO because the guests of luxury rentals usually choose longer-term stays than the majority of homes currently listed on Airbnb. Furthermore, Airbnb hopes to draw more cooperation from property management companies by encouraging them to list their homes on their site.

Source: Airbnb buys Montreal-based Luxury Retreats to bolster high-end vacation offerings

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