Airbnb is set to acquire Luxury Retreats International, a Montreal-based villa rental company, according to a report from Bloomberg.
According to sources, Airbnb’s board of directors is expected to approve the deal with week and will be valued at approximately $300 million.
With 4,000 properties in its portfolio, Luxury Retreats would be Airbnb’s largest acquisition to date. The move would bolster 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.