Global accommodation listing portal Airbnb has reportedly been negotiating a deal to acquire the Chinese booking website Xiaozhu.com, reports Bloomberg.
A person, who wished to remain anonymous, reported that the the two companies are in advanced talks to discuss Airbnb's acquisition of the travel portal.
Although the San-francisco-based company is the largest global platform for people to rent out their homes, it's experience cracking Chinese markets and competing with rivals Xiaozhu and Tujia.com has been a challenge.
“It means Airbnb becomes a meaningful player in the domestic market in China,” if the deal goes through, Douglas Quinby, vice president of research at travel research firm Phocuswright. “It’s really about getting a foothold in a key market.”