Expedia buys HomeAway to compete with Airbnb

It is biggest acquisition in Expedia’s history at almost $4 billion
Expedia is to buy the vacation rental site HomeAway for around $3.9 billion in cash and stock, in a move designed to beef up competition with Airbnb.
It is the biggest acquisition in the history of the world’s largest OTA by bookings and follows its recent purchases of Orbitz Worldwide for $1.3 billion and Travelocity for $280 million.
The deal should close in the first quarter of 2016, subject to regulatory approval, Expedia said.
The move shines further light on the rise of the alternative lodging market, which Expedia says is worth some $100 billion.
One financial analyst called the purchase “transformational”, saying it allows Expedia to “participate in the sharing economy, which might be the next frontier” for leisure travel. Meanwhile, more business travellers are also flocking to Airbnb.
NBC

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