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Airbnb Acquires Montreal’s Luxury Retreats to Bolster Tourism Services

As we hinted at last week, Airbnb has acquired Montreal-based Luxury Retreats International for upward of $300 million.

With 4,000 properties in its portfolio, Luxury Retreats is Airbnb’s largest acquisition to date. The company was started in 1999 by website developer Joe Poulin.

The move is a blow to Canada’s homegrown tech sector but bolsters Airbnb’s tourism services, which it has been expanding recently.

Founded in San Francisco, Airbnb offers three million homes across 34,000 cities and 191 countries.

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