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HomeAway’s DNA is growth through acquisition. The acquisition of Stayz led to a fourth quarter loss, but that doesn’t mean much as these things can be expensive at times, and it puts HomeAway into a better strategic position in Asia-Pacific.
HomeAway reported a fourth quarter net loss of $1.6 million in part because of $3.8 million in expenses related to its acquisition of Australia’s largest vacation-rental group, Stayz.
HomeAway acquired the Stayz Group, which also includes Rentahome.com.au, TakeABreak.com.au, and YesBookIt, for $197 million in an all-cash transaction in December.
That net loss for the quarter contrasted with net income of $4.5 million a year earlier.
For the quarter, HomeAway’s revenue increased 26.1% to $71.6 million, and the company attributed that growth to a jump in average revenue per listing because of its tiered pricing and bundled listings’ offerings.
For full-year 2013, HomeAway reported net income of $17.7 million, an 18% increase compared with 2012. Revenue for 2013 rose 23.6% to $346.5 million.