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4/29/2019, 7:01 PM (Source: TeleTrader)
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Marriott to launch home rental platform - report

The world's largest hotel chain company Marriott International is looking into launching a home rental platform, aiming to compete with Airbnb and similar home sharing firms, the Wall Street Journal repored on Monday, citing sources with knowledge on the matter. The news comes after Marriott started a partnership with Hostmaker, a home rental management firm offering locations in various cities in Europe. The hotel chain giant is considering expanding the business to the United States.

Marriott stated that users could earn loyalty points on the home rental platform, similar to the system already developed for Marriott and Starwood hotels. Additionally, the report indicated that Marriott's largest competitors Hilton Worldwide Holdings and Hyatt Hotels are also considering expanding into the home rental business. Meanwhile, Airbnb entered the hotel business last month, as it bought Hotel Tonight, a company that offers accommodation bookings at discounted rates.

Following the news, Marriott shares traded 0.15% in the green at 1:00 pm ET.

Breaking the News / SS