HomeAway Acquires Vacation Rental Management Software Provider Escapia, Inc.
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.
Escapia, Inc., founded in 2000, is leading the Internet revolution in the $24 billion vacation rental industry with a comprehensive Internet business platform and a breakthrough consumer booking service. Escapia empowers professional vacation rental management companies to reach new customers, manage properties and owner relationships, and perform trust-based accounting, housekeeping, maintenance and other mission critical aspects of their businesses. EscapiaONE is a comprehensive platform for vacation rental companies embracing the Internet future of the industry. EscapiaNET is the leading online distribution network for professional vacation rental managers. And ClearStay.com is the premier online vacation rental site helping consumers book lodging with vacation rental managers Seattle-based Escapia can be reached at 1-800-ESCAPIA, email@example.com or via the web at www.escapia.com. Visit the Escapia, Inc. Blog at www.escapiablog.com
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