images-5Austin-based HomeAway just increased its presence in Asia with the acquisition of Bookabach Limited, a New Zealand-based vacation rental site.
The world’s largest online marketplace for vacation rentals announced Wednesday that is has secured a 55 percent stake in Bookabach which has more than 8,000 property listings in New Zealand, Australia and the Pacific islands.
HomeAway did not disclose the terms of the deal of the all cash transaction.
The acquisition also includes Bookastay, the company’s affiliated Australian vacation rental site. Bookabach and Bookastay together feature more than 8,000 property listings in New Zealand, Australia and the Pacific islands.
The partnership broadens HomeAway’s presence in the Asia Pacific region and strengthens its presence in Australia and New Zealand.
“New Zealand is one of the most beautiful destinations in the world and we’re excited about adding thousands of New Zealand properties to our portfolio,” HomeAway CEO Brian Sharples said in a news release. “The Bookabach team has built a great brand among vacation rental owners and travelers in New Zealand, and we will build upon that by delivering more value to owners over time and continuously seeking ways to improve the experience for all travelers who choose vacation rentals.”
Bookabach Co-founder Peter Miles will serve as the general manager of Bookabach’s seven employee office in Auckland.
HomeAway executives will discuss the acquisition during its third quarter earnings conference call today at 3:30 p.m. central time.