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Airbnb doubles down on luxury vacations

Photo Illustration: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Airbnb, the company whose brand is synonymous with budget-friendly home-sharing accommodation for travelers, is debuting a luxury rental tier on its marketplace, it told the New York Times Tuesday. The 2,000 properties have been selected from Luxury Retreats, which Airbnb acquired in 2017.

By the numbers: Airbnb saw a 60% increase in the past year in bookings that cost $1,000 or more a night (though it's unclear what portion of the company's overall business they make up).

Go deeper: Airbnb wants to go mainstream