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
Derek Jeter and his Tampa mansion (Getty, Smith & Associates Real Estate/Luxury Portfolio International)
Jeter sells waterfront Tampa estate for record $23M
Jeter sells waterfront Tampa estate for record $23M
Palazzo Della Luna at 6800 Fisher Island Drive (Photo via Palazzo Della Luna)
Miami-Dade weekly condo sales, dollar volume up at year-end
Miami-Dade weekly condo sales, dollar volume up at year-end
(Google Maps, Fisher Island)
Miami-Dade condo sales, dollar volume fall during holiday week
Miami-Dade condo sales, dollar volume fall during holiday week
Map and Palazzo Della Luna, Miami Beach (Google Maps)
Condo sales, dollar volume rise last week in Miami-Dade
Condo sales, dollar volume rise last week in Miami-Dade
515 East Dilido Drive with Jonathan Cox (Douglas Elliman, Federated Cos.)
Federated Cos. developer buys waterfront Venetian Islands home
Federated Cos. developer buys waterfront Venetian Islands home
(Google Maps)
$35M closing at Faena House leads Miami’s weekly condo sales
$35M closing at Faena House leads Miami’s weekly condo sales
(Google Maps)
Condo sales rebound in Miami-Dade after Thanksgiving
Condo sales rebound in Miami-Dade after Thanksgiving
Pamela Applebaum and The Bristol
Daughter of drugstore mogul sells Bristol condo unit for $16M
Daughter of drugstore mogul sells Bristol condo unit for $16M
arrow_forward_ios

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

Loading...