HomeAway Reports Q4 Loss Because of Stayz Acquisition
Skift Take
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.
Photo Credit: HomeAway recorded a loss in the fourth quarter of 2013 because of its acquisition of Australia vacation rental group Stayz, but the HomeAway says the purchase puts it into good shape in Asia Pacific. PlaceIt by Breezi
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