Airbnb is set to join hands with RXR Realty, a major estate developer in the New York. A portion of the city is said to be converted from commercial stature into a new category of urban lodging by this merger.
Airbnb makes its boldest move yet by expanding its regime of traditional hotel space, their essential line of work is providing hotel rooms with living rooms and kitchen. These accommodations are accessible by the Airbnb platform.
Both the companies had started their work from the famous Rockefeller Plaza in Manhattan. There were talks of converting RXR personal properties as well, which included areas across the Brooklyn Navy Yard.
This was not the first time that Airbnb and other property developers had joined arms to redevelop Airbnb apartment complexes. But the experience of converting floors into high-end luxury suites was something that was never been done before.
In a recent press release the companies gave an inside on who will be the in charge of what. They have decided that the RXR would hold responsibilities of the execution and management of the locations, whereas Airbnb will work towards the commercial aspects of the project.
Airbnb co-founder Nathan Blecharczyk had recently indicated that the companies were planning to go public in the near future, but that does not necessarily mean that it would be made public in 2019.
But when it will be really available to the public, the company might want to see itself as a Super brand for travels. It had launched a restaurant reservation service by incorporating with Resy in 2016, launched trips and even provided with an experience platform. The company might just get into the market of flight bookings as well. In the near future, we will be able to see the results of the partnership between both the companies.