Sydney-based Fairfax Media recently sold its holiday rentals website Stayz, to the US-listed holiday rentals group HomeAway for about AUS$220 million (approx. US$208 million).
Stayz was launched back in 2001 as a way for holiday-home owners to list their properties online, and was acquired by Fairfax in 2005 for AUS$12.7 million. Recently, analysts from JP Morgan placed a value of AUS$140 million on the holiday property rental business.
HomeAway has had its foot in the Australia market since 2011 after purchasing a rental business website from Australia's REA Group Ltd.
This most recent endeavour is the second push in the region for HomeAway, after the company purchased a 55% stake in Bookabach Ltd., the operator of a top vacation rental site in New Zelaland, in November of 2013.
The Stayz purchase, should add nearly 35,000 additional Australian-based properties to the HomeAway network.
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