Airbnb is buying last-minute hotel room booking site HotelTonight, firmly moving them into the hotel room booking business. According to travel news site Skift, Airbnb will be paying in excess of $400 million in cash and stock. The deal is expected to close in June.
“Airbnb CEO and co-founder Brian Chesky said the purchase of HotelTonight was a key component of Airbnb’s desire to become a comprehensive travel marketplace. ‘A big part of building an end-to-end travel platform is serving every guest, whether they plan their trip a year or a day in advance…'”