Airbnb has spent the past several years trying to grow the corporate side of its business and just took a big step forward with the acquisition of Urbandoor.
The demand for long-term accommodations for business travelers is growing at a rapid pace. Airbnb for Business has tripled in recent years and now accounts for 15% of all Airbnb bookings. However, the supply for these properties has been an issue.
Companies are looking for more upscale buildings with doormen, gyms, and other amenities that offer value for employees.
Urbandoor has focused solely on business travelers through negotiations with building owners instead of renters. The company has locations in 1,500 cities and 60 countries, which will significantly boost Airbnb’s supply of business traveler-friendly places to stay.