HomeAway Extends Pay-Per-Booking Model to VRBO.com
HomeAway, Inc. (NASDAQ: AWAY), the world’s leading online marketplace for vacation rentals, today launched its pay-per-booking model and Professional Referral Network on VRBO.com®. Having already launched both services on HomeAway.com in 2013, owners and property managers on VRBO.com now have the same opportunity to pay just 10 percent of each booking with no up-front subscription fee. The commission-based model provides an alternative to the company’s existing subscription offering. HomeAway’s Professional Referral Network, a directory connecting owners to professional property management services during the sign-up process, is now also available to new VRBO.com owners.
The pay-per-booking model is ideal for owners new to renting or with a property in a destination that's focused on a particular season or event such as the Super Bowl or World Cup. HomeAway® believes this model gives some vacation rental owners and property managers, who may be holding off due to cash constraints, a chance to start renting their vacation rentals.
"Since launching pay-per-booking on HomeAway.com in October, customers have responded positively, while our subscription business has not been adversely affected and remains our bread and butter," says Brian Sharples, HomeAway CEO and co-founder. "I'm pleased we can now offer owners and property managers even more options for distribution with pay-per-booking on VRBO.com, one of the oldest and most well-known brands in the industry."
Now, customers can either choose to list their properties personally; or through the Professional Referral Network, they can team up with a partner company to build their VRBO listing and handle all inquiries and reservations, while still overseeing on-site management or simply outsource all the work to a property manager.
Since October 2013, nearly 70 professional management companies have joined the Professional Referral Network to support new HomeAway.com and VRBO.com owners. To qualify for the network, managers must list a minimum percentage of their properties with HomeAway and guarantee all referred properties purchase annual subscriptions.
HomeAway, Inc. based in Austin, Texas, the world's leading online marketplace for the vacation rental industry, with sites representing over 773,000 paid listings of vacation rental homes in 171 countries. Through HomeAway, owners and property managers offer 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 and Toprural.es in Spain; AlugueTemporada.com.br in Brazil; HomeAway.com.au in Australia; and Bookabach.co.nz in New Zealand. Asia Pacific short-term rental site, travelmob.com, is also owned by HomeAway.
HomeAway also 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.
Cautionary Statement Regarding Forward-looking Statements
This press release contains "forward-looking" statements, subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which are based on HomeAway management's beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning HomeAway's launch of its pay-per-booking and Professional Referral Network offerings (the “Offerings”), the impact those Offerings will have on HomeAway’s business and the benefits such Offerings may provide to owners and travelers.
Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "continues," "plans," "believes," "expects," "anticipates," "could," "look forward to," or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the performance of the Offerings to be materially different from any future performance expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to the following: (a) the adoption of the Offerings by property ownrs and managers, (b) the performance of the Offerings, and (c) such other risks and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission (the "SEC"). All information provided in this press release is as of the date hereof and, except as required by law, HomeAway assumes no obligation to update this information, even if new information becomes available in the future.
HomeAway media contact: Victor Wang, 512-505-1504, vwang@HomeAway.com