INTERNATIONAL – Airbnb on Thursday announced that it has signed an agreement to acquire last-minute hotel booking app HotelTonight for an undisclosed sum.
This is according to a report by the Verge, which states that the company has been working over the years to expand its home rental marketplace into a travel platform.
The company's platform already includes concierge services and optional tours for select bookings.
According to a report by Recode, HotelTonight was last valued at $450 million and Airbnb is valued at $31 billion and is expected to file for an initial public offering this year.
According to a press release, the HotelTonight app will continue to operate as usual.