Airbnb buys out rental vacation company

Airbnb has snatched up Montreal-based vacation rental company, Luxury Retreats, which has 4000 homes in 100 destinations worldwide, including 14 properties over in New Zealand, although none in Australia yet.

As some of the more major competitors to big disruptors like Airbnb, Luxury Retreats offers high-quality listings, concierge service and a range of amenities to travellers.

Naturally, as Airbnb continues its steep growth, such a business not only complements Airbnb’s existing offerings, but an acquisition ensures competition becomes almost none existent.

Luxury Retreats CEO Joe Poulin will join Airbnb and lead luxury homes, reporting to Airbnb co-founder and CEO Brian Chesky, while the Luxury Retreats team will remain based in Montreal.

In the short-term, Luxury Retreats will continue to operate as a standalone entity, but over time, Luxury Retreats listings will be highlighted and integrated into the Airbnb community.

All of the approximately 250 members of Luxury Retreats team will join the Airbnb global family and continue to focus on bringing more high-quality homes to the Airbnb listings.

“From airbeds in an apartment to castles to villas, Airbnb has always been focused on providing a broad range of amazing experiences and trips,” said Chesky.

“I have spent countless hours with Joe and his team and seen firsthand their passion for delivering amazing hospitality and unforgettable experiences in spectacular places around the world. They share our values and I’m excited to work with the Luxury Retreats team to serve more travelers.

“The incredible energy and talent in these teams will help support our mission and grow our community and I’m confident that we will expand our team in Canada in the months and years ahead.”

“Montreal is known as an innovative city that is looking forward,” said Montreal Mayor Denis Coderre. “I’m pleased that a large company like Airbnb has chosen to invest in Montreal by their investment in Luxury Retreats and that its activities will continue to be based here.

“This proves that Montreal, as a large metropolis, is open to the sharing economy when it is done correctly. Having recently met Brian Chesky and Joe Poulin, I am convinced that they will find in Montreal an ideal place to invest and continue their activities.”

“Airbnb has revolutionized global hospitality, connecting a vibrant community of hosts and guests to deliver a tremendous amount of unique travel experiences,” said Luxury Retreats founder and CEO Joe Poulin.

“Brian’s vision, values and approach mirror what Luxury Retreats has been focused on in the luxury market since 1999. We are thrilled to join the Airbnb family with a continued commitment of delivering quality, luxury travel experiences.”

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