HomeAway buys rental rival Stayz for $200M
Big deal in the vacation rental sector – HomeAway has splashed out some $198 million to buy the Stayz Group, a major player in the market in Australasia.
The deal to acquire Stayz Group from Australian publishing giant Fairfax Digital includes brands Rentahome, TakeABreak and YesBookit.
Stayz generated AUD $25.4 million ($22.9 million) in revenue for the year ending June 2013, primarily via its commission-based model. Around 99% of Stayz’s listed properties are in Australia.
The Sydney-based company, with a headcount of 40, will continue to operate as a brand in its own right under general manager Anton Stanish.
Read full story at:http://www.tnooz.com/article/homeaway-stayz