HomeAway teaming with European company

Nov 21, 2013
Austin Business Journal

HomeAway Inc. is partnering with a European vacation home rental lister in a deal that’s expected to add tens of thousands additional listings to HomeAway’s inventory


Austin-based HomeAway (Nasdaq: AWAY) is teaming with Switzerland-based Interhome AG, which specializes in the rental of more than 32,000 holiday apartments, homes and chalets in 31 countries


Founded in 1965, Interhome operates 15 regional subsidiaries with a concentration of listings in France, Italy, Spain and Switzerland, according to a HomeAway news release


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


Earlier this 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


The company beat analysts’ estimates, reporting non-GAAP earnings of 19 cents a share for the latest period, three cents above the street’s expectations


Also this month, HomeAway said it would buy an ownership stake in New Zealand-based Bookabach Ltd. for an undisclosed amount. The company bought a 55 percent stake in Bookabach, the operator of a vacation home rental website


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