Lyric, a hospitality platform for business travellers, is what its co-founder and CEO Andrew Kitchell calls a “premium operator,” securing spaces in residential buildings by partnering with landlords and bringing its own brand and design aesthetic to the rooms. Airbnb was first reported to be in talks to lead Lyric’s fundraising round late last year. (Skift)
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Lyric, a hospitality platform for business travellers, is what its co-founder and CEO Andrew Kitchell calls a “premium operator,” securing spaces in residential buildings by partnering with landlords and bringing its own brand and design aesthetic to the rooms. Airbnb was first reported to be in talks to lead Lyric’s fundraising round late last year. (Skift)
Talking point: This is Airbnb’s third deal in the last six weeks. In March, the company acquired HotelTonight for over US$400 million and, earlier this month, it invested between US$100 million and US$200 million in Oyo, India’s biggest hotel chain. The efforts aim at expanding the company’s overall offerings leading up to its expected IPO sometime in 2020.
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