HomeAway Solidifies Market Leadership in Spain and Adds to Rural Accommodations in Europe with Acquisition of Toprural
AUSTIN, Texas, April 2, 2012 — HomeAway, Inc. (NASDAQ: AWAY), the world’s largest online marketplace for vacation rentals, today announced its acquisition of Top Rural S.L. (dba Toprural®), the leading site for independently-owned rural accommodations in Southern Europe, in an all cash transaction. The site, www.toprural.com, incorporates both bed and breakfasts and vacation rentals, which reflects the core of HomeAway’s inventory. As of December 31, 2011, Toprural had more than 11,600 paid listings and approximately 29,900 free listings in rural France, Spain, Italy and Portugal.
The acquisition of Toprural broadens HomeAway’s reach within the European market. It also adds inventory that appeals to a desirable European traveler segment that seeks long weekend getaways to small towns or countryside destinations as an escape from the city.
“Adding Toprural’s unique lodging options to our international network of vacation rentals supports our mission of making every vacation rental and bed and breakfast in the world easily available to every traveler,” says HomeAway® chief executive officer Brian Sharples. “We are thrilled to have Toprural in our family so more vacationers than ever have the opportunity to stay together and experience rural Europe.”
Founded in Madrid in 2000 by François Derbaix, the site operates in eight languages, including Spanish, Portuguese, French, Catalan and Dutch and features accommodations varying from farmhouses in Tuscany to fincas in Mallorca, Spain.
“At Toprural, we share HomeAway’s belief that where you stay on vacation is as important as where you go,” says Toprural founder François Derbaix. “We are not only excited to introduce HomeAway’s traveler base to the joys of rural travel, but we’re also thrilled by the increased visibility we can deliver to Toprural customers by joining HomeAway’s unparalleled network of sites.”
Toprural and its 46-person staff will continue to operate as an independent brand from its office in Madrid. Chief operating officer, Rafael Pérez-Olivares Hoepfl, will now serve as General Manager and replace François Derbaix, who will stay on as a consultant during the transition.
HomeAway will provide additional details on the Toprural acquisition during its first quarter earnings conference call on Tuesday, April 24, 2012.
Conference Call & Webcast Information
HomeAways first quarter 2012 earnings conference call takes place Tuesday, April 24, 2012 at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time. To participate in the call, investors should join ten minutes prior to the scheduled start time. Callers in the US and Canada should join by dialing (877) 941-8416, passcode 4528539. Callers outside the US and Canada should join by dialing (480) 629-9808, passcode 4528539. In addition, a live webcast of the call will be accessible through the Investor Relations section of HomeAway's website at http://investors.homeaway.com and will be archived online for 60 days upon completion of the conference call.
For information contact:
Public Relations Manager