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Airbnb buys Urbandoor to boost corporate housing rentals

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Airbnb buys Urbandoor to boost corporate housing rentals

Airbnb Inc. said Aug. 5 that it acquired Urbandoor Inc., an online marketplace that offers accommodations to business travelers.

Financial terms of the deal were not disclosed. Both Airbnb and Urbandoor are headquartered in San Francisco.

The property rental company said the acquisition will help "strengthen Airbnb for Work's engagement with the more than 500,000 companies who use Airbnb for Work to help manage their business travel."

Airbnb for Work already offers work-friendly homes for business travels of any length. Accommodations under this service include spaces where business travelers can hold meetings.

Urbandoor, which was established in 2015, is backed by Greystar Real Estate Partners LLC. The platform's offering includes apartment communities in more than 1,500 cities in over 60 countries.

Following the completion of the transaction, Airbnb will absorb all Urbandoor employees, while Urbandoor's listings for long-term stays will soon be bookable through the Airbnb platform.