Short-term home rental service Airbnb is innovating in the luxury travel space and responding to consumer demand with its soon-to-be-finalized purchase of Luxury Retreats, a similar service working with only upscale properties. The online marketplace will likely be focusing on bringing more luxury services to its users after the takeover is complete. The move is likely due to demand from users, who are interested in an easy experience in renting luxury homes for vacation or business stays.

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