In a major move in the industry, Expedia purchased HomeAway for $3.9 billion, adding to its assets which include Orbitz and Travelocity. The move signals the travel industry’s realization that consumers are interested in different lodging options beyond hotels.
“’We’re eager to benefit from Expedia’s distribution, technology and expertise, which will allow us to provide an even better product and service experience for our owners, property managers and travelers,’ said HomeAway CEO Brian Sharples in a statement. ‘In this way, I believe our combination with Expedia will turbocharge our growth and industry leadership for many years to come.’”
The acquisition of HomeAway by Expedia bodes well for the short-term rental industry, demonstrating willingness to invest long term in this lodging solution.