This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HomeAway Expands Asia Pacific Presence With Acquisition Of New Zealand’s Bookabach

HomeAway, Inc. (NASDAQ: AWAY), the world’s leading online marketplace for vacation rentals, today announced it has secured a 55 percent stake of Bookabach Limited, the operator of a leading vacation rental site in New Zealand, in an all-cash transaction. The acquisition also includes Bookastay, the company’s affiliated Australian vacation rental site. Bookabach and Bookastay together feature more than 8,000 property listings in New Zealand, Australia and the Pacific islands. While the price and terms of the deal have not been disclosed, HomeAway® will talk about the acquisition during its third quarter 2013 earnings conference call today, Wednesday, November 6 at 4:30 p.m. Eastern Time.

The partnership strengthens HomeAway’s presence in Australia and New Zealand, as each country is the leading provider of foreign tourists to the other. It also broadens HomeAway’s reach within the Asia Pacific market, providing highly appealing accommodation options to travelers globally.

This announcement follows a series of investments by HomeAway in the Asia Pacific region over the last year, including its August acquisition of short-term rental site, travelmob.com; a distribution partnership with Wego.com; and a minority investment in China-based vacation rental company, Tujia.com. HomeAway has had a presence in Australia since 2011 after purchasing the vacation rental business website from REA Group Limited and subsequent launch of HomeAway.com.au.

“New Zealand is one of the most beautiful destinations in the world and we’re excited about adding thousands of New Zealand properties to our portfolio,” says HomeAway CEO Brian Sharples. “The Bookabach team has built a great brand among vacation rental owners and travelers in New Zealand, and we will build upon that by delivering more value to owners over time and continuously seeking ways to improve the experience for all travelers who choose vacation rentals.”

Bookabach features vacation rentals found in popular New Zealand North and South Island destinations such as the Bay of Islands, Coromandel Peninsula, Waiheke Island, Rotorua and Queenstown-Lakes. Founded in 2000, the company’s name was derived from the New Zealand term “bach,” (pronounced “batch”) meaning a modest holiday home or beach house. Bookabach is both a subscription and transaction-based model that features properties operated by owners and property managers.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs