Forget about renting someone’s extra bedroom through Airbnb on your next trip, now you can book a luxury villa, thanks in part to Airbnb’s recent acquisition of high-end lodging company Luxury Retreats.
Airbnb announced the deal Thursday, adding 4,000 additional properties in 100 destinations to its roster of rental options.
While Airbnb did not disclose the value of the deal, Bloomberg reports that it is expected to cost about $300 million.
For now, Montreal-based Luxury Retreats will continue to operate as a stand-alone entity, while CEO Joe Poulin will head Airbnb’s luxury homes division. The company’s 250 employees will transition to Airbnb’s global network.
In addition to offering high-end lodging options, Luxury Retreats also includes a concierge-based service that will build on Airbnb’s “Trips” service.
Back in November, Airbnb debuted Trips, which acts as a concierge of sorts for travelers, providing them with personalized suggestions on activities based on city guidebooks, dining, and happy hour events.