News from Expedia tells of the OTA’s coming purchase of holiday rental firm HomeAway. In a deal estimated at $3.9 billion, the Texas based startup could punch a hole in the alternative accommodations space for the famous brand.
According to the news, Expedia CEO Dara Khosrowshahi offered this comment:
“We have long had our eyes on the fast growing $100 billion alternative accommodations space and have been building on our partnership with HomeAway, a global leader in vacation rentals, for two years. Bringing HomeAway into the Expedia family and adding its leading brands to our portfolio of the most trusted brands in travel is a logical next step.”
HomeAway chief Brian Sharples noted how Expedia will boost his company’s distribution and other aspects of the business. In September, Expedia acquired Orbitz Worldwide for $1.6 billion, to add to its acquisition of Travelocity earlier in the year.
Earlier this month HomeAway announced the acquisition Dwellable, an online vacation rental search engine and top-rated vacation rental app.