On February 16, 2017, Airbnb announced the acquisition of Montreal-based Luxury Retreats for an amount according to various sources of between US$200 million and C$300 million. Congratulations to the team at Luxury and to Chris Arsenault at iNovia Capital!
Founded in 1999, Luxury Retreats is an online luxury vacation home rentals platform with over 4,000 properties in its portfolio. Airbnb, the well known online platform for rental accommodations is well positioned to expand its tourism services with the acquisition of Luxury Retreats and the launch of Trips. Luxury Retreats raised two rounds of VC capital totalling $16 million and was reportedly profitable for a number of years.
Transaction Table: Click Here!