Airbnb's acquisition of HotelTonight has online travel booking giants and hotel chains paying attention to the home-sharing unicorn. A look at financing and market trends for the online travel booking space.
On March 7th, Airbnb acquired HotelTonight, a last-minute hotel booking startup backed by Accel, Battery Ventures, Coatue Management, and First Round Capital, among others. HotelTonight is Airbnb’s largest acquisition to date. HotelTonight started offering last-minute hotel bookings via its mobile app in 2011 and has raised over $117M. HotelTonight’s CEO has said that the startup has been profitable since 2016.
We take a look at the HotelTonight transaction to understand:
