The website and mobile app that's built its business on arranging homes for vacation stays, is buying the last minute hotel booking service called "HotelTonight".
It will allow users. CEO Sam Shank explained to Bloomberg in October, "hotels are catering to this idea of providing experiences, Instagram-able moments for Millennials, and we help people get this for a great price".
Since introducing deluxe features early a year ago, Airbnb has more than doubled the number of rooms available in hospitality venues that aren't someone's half-finished basement, and tripled hotel bookings between 2017 and 2018.
Airbnb co-founder, CEO and head of community, 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".
The move comes with Airbnb set to launch a stock listing as soon as this year, in a sign of the maturation of "sharing economy" firms including Uber and Lyft. "Once these new guests come to Airbnb, they're returning to book with our Home hosts". Airbnb and HotelTonight will operate as separate entities, Airbnb said, with HotelTonight keeping its own app and website.
"Working with the incredible team at HotelTonight, we will offer guests an unparalleled last-minute travel experience that provides unique, memorable hospitality on every trip, on any schedule, at any time", he added.
Although the company has struggled to stand out from the travel-booking giants, HotelTonight is profitable.
HotelTonight's listings include large hotel chains such as Sheraton and Hyatt that Airbnb has said will not have a place on its site. It was valued at more than $30bn in financing rounds between 2016 and 2017.
Airbnb, which was valued at US$31bn in a 2017 fundraising, is considering an IPO in the next two years.
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