SAN FRANCISCO - Home-renting company Airbnb has bought HotelTonight, an app for finding hotel rooms at a discount, as it wades deeper into the hotel-booking business to attract a wider variety of travelers ahead of a hotly anticipated initial public offering.
Airbnb declined to provide the terms of the deal. HotelTonight has raised more than $115 million in funding and was last valued at $463 million in a funding around in 2017. San Francisco-based HotelTonight culls unsold inventory from hotels and offers discounted rooms to travelers, often targeting business districts and urban areas. It started as a service for last-minute room bookings, but now lets users book months in advance.
I absolutely love how this model is pricing me out of living in the neighborhood I’ve lived in for 15 years. Glad y’all are making extra money.
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