AUSTIN, TX – October 20, 2010 – HomeAway, Inc. – the world’s leading online vacation rental marketplace – today announced its acquisition of vacation rental software provider, Escapia, Inc. This purchase follows the company’s October 5 announcement of its acquisition of Instant Software, Inc. (ISI), and adds the second half of the top two vacation rental management software providers in the United States to the HomeAway® portfolio.
“With Instant® and Escapia® joining the HomeAway team, it’s incumbent upon us to maintain and continue to develop the premier software solutions for property managers,” says Brian Sharples, CEO of HomeAway. “HomeAway’s goal is to make it easier than ever for professional property managers to operate their business and drive more customers to their listings through open distribution systems and additional marketing channels. Escapia is our industry’s most-used software as a service (SaaS) solution, which makes it a perfect companion for the extensive product suite offered by ISI.”
Together, ISI and Escapia represent nearly 1,700 property management customers. “The vacation rental industry continues to experience significant growth,” says Bill Furlong, CEO of the decade-old Escapia. “As our customers find themselves competing more and more with hotels, the Escapia and Instant products will make HomeAway well-positioned to serve the complex needs of professional property managers while making their properties more-easily found by travelers on a wide range of distribution partner platforms.”
HomeAway’s two existing property management businesses for the bed and breakfast industry, Webervations and RezOvation, as well as Escapia and ISI, are led by John Banczak, HomeAway VP and General Manager of HomeAway’s newly-formed Property Management Software Group.
Escapia and its 25-person staff will continue to operate from its headquarters in Seattle. HomeAway now has 735 global employees focused on alternative accommodations.
The terms of the deal were not disclosed.
HomeAway, Inc., based in Austin, Texas, is the worldwide leader in online vacation rentals, with sites representing more than 625,000 paid vacation rental home listings throughout more than 145 countries. HomeAway offers 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 in Spain; AlugueTemporada.com.br in Brazil; and HomeAway.com.au in Australia.
In addition, HomeAway 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.
Adam Annen, Public Relations Manager, HomeAway, Inc.
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