Hotel and hospitality company Marriott International (MAR) - Get Report is fighting back against home rental unicorn Airbnb by introducing its own home rental service, The Wall Street Journal reported Monday.
Details for the company's first phase could be unveiled as soon as next month, sources told the Journal.
The rooms listed on Airbnb currently dwarf the number of hotel rooms Marriott has available by a nearly four-to-one margin, according to the Journal. People had 4.29 million rooms listed on Airbnb as of December, compared to 1.29 million Marriott rooms in the first quarter of this year.
Meanwhile, Airbnb is moving into the traditional hospitality business after its purchase of excess room inventory aggregation company Hotel Tonight.
Airbnb was rumored to be seeking to go public this year, but co-founder Nathan Blecharczyk told Business Insider that it might not occur in 2019.
Year to date, Marriott shares have gained more than 27%. The stock is down 0.1% Monday.