Smith’s comments are a departure from the party line typically espoused by upscale hotels — that Airbnb Inc. opens up a new market but doesn’t compete directly with them. The San Francisco-based firm moved closer to becoming a full-service global travel company in February when it bought Montreal-based Luxury Retreats, a manager of high-end rentals and services, in a deal valued at $300 million. It marked the home-sharing service’s biggest acquisition yet. Luxury rentals are a main growth area for the vacation market, which has seen online home-sharing companies muscle in on traditional lodging providers. Airbnb’s push into the space gives it further potential to “capture the millennial category at all price points,” Jan Freitag, a senior vice president at Hendersonville, Tennessee-based STR Inc., a hotel data and analytics firm. The customer who initially used Airbnb to save money now sees the option to splurge, he said. Get the full story at Skift Read also "Airbnb simplifies check-in process"