HomeAway buys Australian rental listing company

Dec 4, 2013
Austin Business Journal

HomeAway Inc. has bought an Australia-based online vacation rental listing company for $198 million

Austin-based HomeAway (Nasdaq: AWAY) acquired the Stayz Group, the publisher of Stayz.com.au, Rentahome.com.au, TakeABreak.com.au, and YesBookIt. The Stayz Group is owned by a division of Fairfax Media Ltd., company officials said Wednesday

The deal is expected to add 33,000 Australian-based properties to the HomeAway network

HomeAway, founded in 2005, operates websites listing vacation home rentals. It employs about 1,443 workers, with 754 based in Austin

In November, the company disclosed an agreement to partner with Switzerland-based Interhome AG in a deal expected to add tens of thousands additional listings to HomeAway’s inventory. It also bought an ownership stake in New Zealand-based Bookabach Ltd. for an undisclosed amount

Last month, HomeAway posted a third-quarter profit of $8.3 million on revenue of $90.1 million compared with a profit of $5.1 million on revenue of $73.1 million during the same period last year

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