Expedia to buy HomeAway
Expedia is to purchase holiday rental firm HomeAway for $3.9 billion.
HomeAway, based in Texas, includes HomeAway.co.uk and Owners Direct in the UK.
Expedia chief executive Dara Khosrowshahi said: "We have long had our eyes on the fast growing $100 billion alternative accommodations space and have been building on our partnership with HomeAway, a global leader in vacation rentals, for two years.
"Bringing HomeAway into the Expedia family and adding its leading brands to our portfolio of the most trusted brands in travel is a logical next step.
"We have tremendous respect for the HomeAway team and the business they have built.
HomeAway chief executive Brian Sharples said it was keen to benefit from Expedia’s distribution, technology and expertise.
In September, Expedia acquired rival Orbitz Worldwide for $1.6 billion and earlier this year it bought Travelocity from Sabre Corporation for $280 million.
This latest deal is expected to be completed in the first quarter of next year.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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