Airbnb acquired Hotel Tonight, Inc. (HotelTonight) for approximately $441.4 million, a transaction completed in April 2019, structured as primarily cash and 3.2 million Class A shares.
Hotel Tonight, Inc. (HotelTonight) operates in Hotel booking / boutique hotels, is based in San Francisco, California, United States. Airbnb completed its acquisition of HotelTonight, an on-demand mobile marketplace for last-minute bookings at boutique and independent hotels, on April 15, 2019 for total consideration of about $441.4 million. Airbnb's filing breaks the price into roughly $237.4 million cash and $201.1 million of Class A common stock (about 3.2 million shares), plus replacement equity awards. It was Airbnb's largest disclosed acquisition and pushed the company deeper into hotel accommodations.
Airbnb framed the deal as part of building an end-to-end travel platform spanning where guests stay, what they do, and how they get there, serving travelers whether they book a year or a day ahead.
Established boutique-hotel inventory and a strong last-minute, mobile booking behavior that complemented Airbnb's advance-planning demand. Added hotel supply and same-day booking demand; HotelTonight co-founder Sam Shank led the boutique-hotel category at Airbnb. Boutique hotel category, led by HotelTonight co-founder and CEO Sam Shank; app continued to operate.
Advisory firms were not disclosed for this transaction.