Airbnb says the acquisition of HotelTonight in its work would contribute to the construction of an "end-to-end travel platform". In other words, Airbnb wants to become a website that people come to for all their travel needs, not just vacation rentals. Airbnb began its ascent to traditional hotels last year by more than doubling the number of its boutique hotels, resorts, bed and breakfasts and other accommodation.
The company, first formed in 2008, currently has more than 6 million real estate listings available in 81
Airbnb is dealing with setbacks from cities that are impacting the service on the domestic hotel industry and the real estate market. Cities like Tel Aviv, New York City, San Francisco, Austin, Los Angeles and Chicago are already charging higher municipal taxes to Airbnb tenants or hosts. Airbnb was banned altogether in other cities.
Yet, such struggles have done little to influence Airbnb's outcome. Airbnb's market value has been estimated at $ 31 billion, just behind the world's most valuable hotel company, Marriott, which is valued at $ 39 billion, according to Australian Financial Review .