Wednesday, July 17, 2013

Homeaway Acquires travelmob for Asia Pacific expansion


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HomeAway has signed an agreement to acquire majority control of travelmob™, an online start-up for vacation rental properties in Asia Pacific.

HomeAway has a previous relationship with travelmob through a distribution partnership announced in March of this year. Built on a transaction-based model, travelmob features over 14,000 Asia Pacific short-term rental listings including luxury villas, urban apartments, houseboats, a private island and even some shared spaces.

"Economists note over 100 million people will enter the Asian middle class each of the next several years, and Asia will have an increasing influence over the world's economic growth. We believe this will have significant implications for not only travel but also for the purchase of homes, both of which drive HomeAway's growth," says Brian Sharples, chief executive officer of HomeAway. "We view Asia as a region where we can build tremendous incremental value for our shareholders and existing customers over the next several years. Given this opportunity, we're excited to work with the experienced travelmob team to address today's market needs in Asia -- where vacation rentals are mostly new, but alternative accommodations are not -- to build scale and accelerate the development of the vacation rental industry."

Could be the start of something big  :)


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