Expedia to pay $three.9 billion for Airbnb competitor HomeAway
The brief-time period rental market is rising, and Expedia understandably needs a bit of it. After snapping up Orbitz and Travelocity earlier this yr, it has now determined to buy HomeAway. It is an internet service that focuses on renting out trip houses, additional intensifying Expedia’s rivalry with Airbnb. The journey empire has been displaying HA properties alongside lodges for a few years, however it’ll now utterly personal the corporate and all its manufacturers. In its press launch, Expedia admits that it has agreed to pay a hefty $three.9 billion for HomeAway, as a result of it has “lengthy had [its] eyes on the quick rising ~$one hundred billion various lodging area.” Each corporations expect to shut the deal in 2016, and in the event that they acquire regulatory approval, Expedia can pay in money and inventory value $38.31 per share.
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Tags: acquisition airbnb expedia brief-termrental journey