Expedia travel giant broadens its reach through acquisition of global vacation rental site HomeAway
Two leading forces in the tech travel industry world have just agreed to join forces to present an entirely new and convenient travel experience for their customers. Washington-based and online travel company giant Expedia recently announced that it will be purchasing Texas-based vacation rental website HomeAway for a hefty price tag of $3.9 billion, according to CNBC.
Company officials, such as Expedia's CEO Dara Khosrowshahi, explained that it has been interested in expanding its services through integrating alternative accommodations into its existing business structure and believes that buying HomeAway is the most effective step in achieving this goal, according to USA Today.
HomeAway currently boasts around 1 million listings in 190 countries, making it an ideal choice for Expedia's growth goals. Expedia made this decision following two years of building a partnership with HomeAway and careful deliberation.
Expedia's acquisition of HomeAway gives the company a chance to broaden its offerings from short- to long-term hotel accommodations, to being able to provide their customers with week-long or more stays unique to HomeAway's particular business model.
"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 prepared statement. "In this way, I believe our combination with Expedia will turbocharge our growth and industry leadership for many years to come."
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