Thursday, July 18, 2013

HomeAway Acquires Travelmob

Homeaway.Com announced this week they are acquiring a majority stake in Travelmob - a relatively new listing site for vacation rentals in the Asian-Pacific region.  This will be Homeaway's first major incursion into that part of the world.

Travelmob will continue to operate as a seperate entity after accepting Homeaway's all cash offer, at least for a while.  History has shown that many Homeaway acquisitions are eventually merged into the mother ship.

Travelmob was founded last year.  It supports 13 currencies and operates in 8 different languages.

Homeaway CEO Brian Sharples said recently "Economists note over 100 million people will enter the Asian middle class each of the next several years, and Asia will have an increasing influence over the world's economic growth. We believe this will have significant implications for not only travel but also for the purchase of homes, both of which drive HomeAway's growth. We view Asia as a region where we can build tremendous incremental value for our shareholders and existing customers over the next several years.

"Given this opportunity, we're excited to work with the experienced travelmob team to address today's market needs in Asia — where vacation rentals are mostly new, but alternative accommodations are not — to build scale and accelerate the development of the vacation rental industry."

Last year Homeaway took partial ownership of Tujia.Com - the top provider of short term rental homes in China, and signed another agreement with Wego - a travel search website based in Singapore.

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