Airbnb is acquiring the last-minute hotel booking site HotelTonight for an undisclosed amount of money.
The privately owned home-sharing company announced on Thursday that it had signed an agreement with HotelTonight in advance of a potential public float this year.
HotelTonight, which is also privately held and was valued at $463m (£354m) in its last fundraising round in 2017, works with hotels to fill their vacant rooms to last-minute travellers at lower prices.
The deal brings Airbnb, which was built around letting users rent out their own homes or rooms but which has grown to encompass dedicated hostels and bed and breakfasts, squarely into the traditional hotel industry.
It will allow users…