Airbnb has snapped up last-minute hotel booking platform HotelTonight for an undisclosed sum.
It is thought to have paid close to HotelTonight’s market valuation, which was estimated at $463 million last year. The company has raised a total of $126 million from investors.
Like Airbnb, the hotel booking site is based in San Francisco. When the deal is finalised, it will continue to operate as a standalone business with CEO Sam Shank reporting to Airbnb’s president of homes, Greg Greeley.
The company offers late bookings for unsold rooms in the Americas, Europe and Australia, in mostly independent and boutique properties.
Airbnb says same-day bookings on its own platform are up 200% year on year.