Luxury Retreats, An Airbnb For High-End Homes And Guests, Raises $11M

 

As Airbnb continues to add more features to its online accommodation rental marketplace to meet demands both from regulators and its growing audience of hosts and guests, a startup in the same space but focusing exclusively on high-end properties has raised funding. Luxury Retreats, a Montreal-based marketplace for people to list and find super fancy homes for short-term rentals, has raised $11 million in a Series B round, led by another Canada-based firm, iNovia Capital.

The company is not publicly disclosing its valuation in this round, but founder and CEO Joe Poulin did tell me a few other details: Luxury Retreats — where typical prices are between $1,500-$2,500/night for a 3-5 bedroom home — has already been profitable “for years,” (a detail we don’t know definitively for its much larger counterpart Airbnb), and it wasn’t out looking for funding but decided to take the money anyway to help expand in a couple of different areas.

Read more at TeleCrunch.