HomeAway Acquires Australian-based Stayz Group

imgres-2In another move to expand its reach into the Asia Pacific Region, HomeAway announced its acquisition of Stayz Group, the leading online vacation rental marketplace in Australia.
Austin-based HomeAway paid $198 million to Fairfax Digital, owner of Stayz Group, which publishes Stay.com.au, Rentahome.com.au, TakeABreak.com.au and YesBookIt.
Stayz reported revenue of $25.4 million for its fiscal year 2013, which ended in June.
“The acquisition of Stayz adds 33,000 additional Australian-based properties to the HomeAway network,” CEO Brian Sharples said in a news release. “It also provides HomeAway a strong momentum to our newly-launched pay-per-booking business, something Stayz has worked over the years to optimize. Additionally, they have demonstrated that a vacation rental business can generate attractive margins operating on primarily a pay-per-booking model, and we look forward to learning from their team.”
The Stayz Group and its 40 employees will continue to be based in Sydney.

Comments

  1. Interesting. Even more consolidation. I was indirectly a part of ResortQuest and EastWest M&As back in the early 2000’s and thought I had seen it all. {grin}

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