Airbnb Acquires Luxury Retreats, Beating Out Expedia, Accor
- Deal said to worth around $300 million in cash and stock
- Canadian company rebuffed higher bids from Accor and Expedia
Airbnb in Talks to Buy Canada’s Luxury Retreats
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Airbnb Inc. bought Luxury Retreats in its biggest acquisition yet as the apartment-rental website takes steps toward becoming a full-service global travel company.
Airbnb unveiled the acquisition of the Canadian manager of high-end rentals and services Thursday, declining to disclose financial terms. The cash and stock deal was worth roughly $300 million, people familiar with the matter said. Bloomberg reported the two were in talks last week.