HomeAway opens door to APAC with majority stake in New Zealand’s Bookabach
HomeAway continues to expand aggressively into the worldwide vacation rental market, announcing today that it has invested in New Zealand’s Bookabach. The purchase is aimed at expanding their APAC presence, as Bookabach also covers other areas in the Pacific such as the Pacific Islands and Australia.
With an all-cash transaction, HomeAway has acquired a 55 percent stake of Bookabach Limited, which also includes the company’s Australian outpost, Bookastay.
The two vacation rental sites boast an inventory of over 8,000 properties, and often feed one another, given the tight link between the Australia and New Zealand tourism markets.
HomeAway CEO Brian Sharples offered the following context for the investment: