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HomeAway Acquires Australia’s Leading Vacation Rental Group, Stayz



  HomeAway Acquires Australia’s Leading Vacation Rental Group, Stayz

Business Wire

AUSTIN, Texas -- December 4, 2013

HomeAway, Inc. (NASDAQ:AWAY), the world’s leading online marketplace for
vacation rentals, announced today it has acquired Stayz Group, the publisher
of Stayz.com.au and the leading online vacation rental marketplace in
Australia. The Stayz Group, which also includes Rentahome.com.au,
TakeABreak.com.au, and YesBookIt, was purchased from Fairfax Digital, a
division of Fairfax Media Limited (ASX:FJX), for approximately US$198 million
in an all-cash transaction. Stayz, which generated AU$25.4 million in revenue
in its last fiscal year 2013 (ended in June 2013), has long employed a
commission-based business model, which produces the majority of its revenue.

“The acquisition of Stayz adds 33,000 additional Australian-based properties
to the HomeAway network. It also provides HomeAway a strong momentum to our
newly-launched pay-per-booking business, something Stayz has worked over the
years to optimize,” says HomeAway CEO Brian Sharples. “Additionally, they have
demonstrated that a vacation rental business can generate attractive margins
operating on primarily a pay-per-booking model, and we look forward to
learning from their team.”

The acquisition of Stayz continues HomeAway’s investment and reach into the
Asia Pacific region. In 2011 the company purchased the vacation rental
business from REA Group Limited and subsequently launched HomeAway.com.au and
in 2012 made a minority investment in China-based vacation rental company,
Tujia.com. HomeAway acquired majority control of short-term rental site
travelmob.com in July of this year and made a majority purchase of
New-Zealand-based vacation rental site, Bookabach, last month.

Founded in 2001, and purchased by Fairfax Media in 2005, the Stayz business
has grown into a portfolio of sites that generate both subscription and
performance-based revenues from properties operated by owners and property
managers. Stayz traffic outsizes their next biggest competitor by almost
8-to-1, generating strong levels of customer satisfaction for both owners and
travelers.

“HomeAway is absolutely the perfect partner for us,” says Anton Stanish,
General Manager for Stayz. “By joining forces, our customers benefit from the
global reach and technology leadership HomeAway can provide as the region’s
and the world’s largest vacation rental company.”

The business and its 40-person team will continue to operate from its
headquarters in Sydney and will be managed by Stanish. It is expected that
Stayz’ inventory will be integrated into HomeAway’s pay-per-booking inventory
in the US and Europe to generate additional traffic for Stayz properties from
international markets.

Conference Call & Webcast Information

HomeAway will host a conference call for investors today, Wednesday, December
4, 2013, at 9:00 a.m. Eastern Time. To participate in the conference call,
investors should join ten minutes prior to the scheduled start time. Callers
in the United States and Canada should join by dialing (877) 874-1565,
passcode 2879092. Callers outside the United States and Canada should join by
dialing (719) 325-4870, passcode 2879092. In addition, a live webcast of the
call will be accessible through the Investor Relations section of HomeAway's
website at http://investors.homeaway.com and will be archived online for 60
days upon completion of the conference call.

For those unable to participate during the live broadcast, a telephonic replay
of the call will also be available from 12:00 p.m. Eastern Time on December 4,
2013, until 11:59 p.m. Eastern Time on December 18, 2013, by dialing (877)
874-1565, passcode 2879092, in the United States and Canada or (719) 325-4870
outside the United States and Canada, passcode 2879092.

Cautionary Statement Regarding Forward-looking Statements

This press release contains "forward-looking" statements, subject to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995,
which are based on HomeAway management's beliefs and assumptions and on
information currently available to management. Forward-looking statements
include information concerning HomeAway's and Stayz' expected, possible or
assumed future results of operations and growth and the addition of Stayz to
the HomeAway portfolio. Forward-looking statements include all statements that
are not historical facts and may be identified by terms such as "continues,"
"plans," "believes," "expects," "anticipates," “can,” "could," “provides,”
"look forward to," or similar expressions and the negatives of those terms.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause HomeAway's and Stayz' actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to the following: (a) HomeAway's and/or Stayz'
inability to continue to attract and maintain a critical mass of property
listings and travelers, (b) the performance of the pay-per-booking business,
(c) the lack of or slow growth in the vacation rental market in Australia (d)
the impact of general economic conditions and (e) such other risks and
uncertainties described more fully in documents filed with or furnished to the
Securities and Exchange Commission (the "SEC"). All information provided in
this press release is as of the date hereof and, except as required by law,
HomeAway assumes no obligation to update this information, even if new
information becomes available in the future.

About HomeAway:

HomeAway, Inc. based in Austin, Texas, the world's leading online marketplace
for the vacation rental industry, with sites representing over 773,000 paid
listings of vacation rental homes in 171 countries. Through HomeAway, owners
and property managers offer an extensive selection of vacation homes that
provide travelers with memorable experiences and benefits, including more room
to relax and added privacy, for less than the cost of traditional hotel
accommodations. The company also makes it easy for vacation rental owners and
property managers to advertise their properties and manage bookings online.
The HomeAway portfolio includes the leading vacation rental websites
HomeAway.com, VRBO.com and VacationRentals.com in the United States;
HomeAway.co.uk and OwnersDirect.co.uk in the United Kingdom; HomeAway.de in
Germany; Abritel.fr and Homelidays.com in France; HomeAway.es and Toprural.es
in Spain; AlugueTemporada.com.br in Brazil; HomeAway.com.au in Australia; and
Bookabach.co.nz in New Zealand. Asia Pacific short-term rental site,
travelmob.com, is also owned by HomeAway.

HomeAway also operates BedandBreakfast.com, the most comprehensive global site
for finding bed-and-breakfast properties, providing travelers with another
source for unique lodging alternatives to chain hotels. For more information
about HomeAway, please visit www.HomeAway.com.

Contact:

HomeAway, Inc.
Eileen Buesing, 512-505-1554
Vice President of Communications
ebuesing@homeaway.com
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