If you’re looking for a last-minute hotel booking app, Airbnb just acquired it. According to the New York Times, Airbnb bought HotelTonight, its second announced acquisition in 2019. Terms of the deal were not disclosed.
In a statement to the Times, Airbnb CEO Brian Chesky said “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.” For now, Airbnb told the Times that HotelTonight will continue to operate as a “stand-alone business.”
The HotelTonight deal marks Airbnb’s 20th acquisition, according to Crunchbase. HotelTonight raised nearly $127 million from investors. Previous rounds were led by investors like Accel and Battery Ventures.
Looking at Airbnb’s acquisition history, the HotelTonight deal is notable, but not out of left field. As far back as 2011, Airbnb acquired Accoleo, a German company that helps students rent out their spaces to other students. It has also purchased Luxury Retreats, which offers personalized villas; ChangeCoin, which zeroed in on micropayment services; and other competing marketplaces for rental homes like Gaest.
Yet none of these deals have come so close to Airbnb’s potential IPO, which we have written about before. What this does to the company’s timing of its public debut is anyone’s guess. But given that Airbnb has raised a known total of $4.4 billion, the travel rental giant likely has some cash, and time, to burn.