HomeAway Buys travelmob

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Vacation apartment rental website HomeAway (UNKNOWN: AWAY.DL  ) is expanding its floor plan a bit this morning, as the company announces the purchase, for an undisclosed sum, of a majority stake in Asia Pacific-focused vacation rental site travelmob.

In a statement, HomeAway noted that travelmob's website "supports 13 currencies and operates in Bahasa, Chinese, Japanese, Korean, Russian, Thai, Vietnamese and English." Travelmob says it has some 14,000 properties in its inventory, available for customers to rent in Asia.

According to HomeAway, it's not buying the whole company, instead leaving management of the start-up with a 37% stake, and buying only the remainder for itself. HomeAway says it also expects to be investing about $2 million in its new subsidiary "to further grow the travelmob business."

This deal is expected to close within a few weeks. HomeAway management, while keeping mostly mum on the details (and in particular, the purchase price) for now, says it will give further details when discussing the buy in its Q2 earnings conference call next Thursday, July 25.

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  • Report this Comment On May 27, 2014, at 5:03 PM, Winbkk wrote:

    Don't ever stay or use Travelmob service, I just use it first time and get me into trouble already, firstly you must paid in full immediately even three four months advance booking. Secondly the room is not same atmosphere as advertise in their website, it old and need renovate before rental out, so after I first check in, the room is not acceptable so I contact Travelmob immediately and send them the actual photos, so they promise to 100% refund to me, so I move out and check in new hotel in Tokyo with walk in price which is very expensive, but later on get message back from them that we refund me only 50%, even I did not stay there at all, for international practice standard, maximum they can charge for guest is first night, but I already paid in full over four months ago for four nights, they should at least refund me 75%, although they promise for 100% full refund at beginning. Now I still did not get any refund from them at all.

    Highly not recommend to use any of their service, they should send local rep to check and investigate the fact before rental the rooms.

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