Luxury Retreats, an “Airbnb for mansions,” raises $11M

Miami /
Jun.June 09, 2015 02:00 PM

From the New York website: A luxury rental site that can best be described as Airbnb for mansions raised $11 million in Series B funding, in another sign of how the sharing economy is making inroads into real estate.

Montreal-based Luxury Retreats, which lists vacation mansions and apartments with prices often exceeding $1,000 per night, has now raised a total of $16 million from investors. The latest round was led by Canadian venture capital firm iNovia Capital, as first reported by TechCrunch.

Luxury Retreats was founded by Joe Poulin in 1999. Many of its competitors in the home-sharing space have picked up serious cash from investors in recent years. Onefinestay, a rival site that lists short-term mansion rentals, raised $40 million from investors including Hyatt Hotels in late 2014. Meanwhile, Airbnb, which lists homes — and sometimes treehouses — in all price categories, is expanding across the globe, and is reportedly valued at more than $20 billion.

As the largest real estate market in the U.S., New York City has drawn significant interest from these startups and Luxury Retreats is reportedly planning to expand its presence in the Big Apple. The site currently lists five apartments on Central Park South and one unit in an Upper West Side high rise, with nightly rents ranging from $450 to $3,000.


Related Articles

arrow_forward_ios
Miami skyline
Miami predicted to be world’s second-best luxury market in ’23
Miami predicted to be world’s second-best luxury market in ’23
71 Curlew Road and James and Kimberly Caccavo (LinkedIn, Steelpoint Capital Partners, Google Maps)
PE boss James Caccavo drops $11M on waterfront Manalapan spec home
PE boss James Caccavo drops $11M on waterfront Manalapan spec home
Sean Hannity with 9 Sloans Curve Drive (Getty, Google Maps)
Palm Beach green-lights addition for Sean Hannity’s oceanfront townhouse
Palm Beach green-lights addition for Sean Hannity’s oceanfront townhouse
404 East Coconut Palm Road in Boca Raton (Google Maps, Getty)
Waterfront Boca Raton spec mansion sells for $19M
Waterfront Boca Raton spec mansion sells for $19M
211 Dunbar Road (Google Maps)
Good ROI? Wealth manager sells non-waterfront Palm Beach estate for $21M
Good ROI? Wealth manager sells non-waterfront Palm Beach estate for $21M
Estée Lauder and 144 Everglade Avenue (Getty, Google Maps)
Estée Lauder’s former Palm Beach estate gets designated historic
Estée Lauder’s former Palm Beach estate gets designated historic
Mount Vernon Company's Bruce Percelay and 210 Palmo Way, Palm Beach (Google Maps, Linkedin, Getty)
Boston real estate chief sells non-waterfront Palm Beach lot for $10M
Boston real estate chief sells non-waterfront Palm Beach lot for $10M
124 Brazilian Avenue (Google Maps)
VC head Robert Burch sells Palm Beach estate for $24M
VC head Robert Burch sells Palm Beach estate for $24M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...