HomeAway, Inc. (NASDAQ:AWAY) is a U.S. based vacation rental service that lets users rent out their second homes. The company has now hit 1 million listings. HomeAway hit 500,000 listings in the second half of 2010, which is more than 5 years after launching, but it took less than a year to double that number.
HomeAway launched its pay-per-booking in late 2013. The company accelerated to nearly 30% growth per year, which is up from 10-15% per year through 2012 and most of 2013. HomeAway takes a 10% commission per booking, unlike traditional subscription models where owners pay an upfront fee per booking.
HomeAway is targeted at owners that rent six weeks or less and for people that are new to renting. According to TheNextWeb, HomeAway is transitioning away from a period where it is focused on buildings its technology platform and consolidating inventory to making sure vacation rentals are as easy to find and stay in as a hotel.
HomeAway will be releasing a new mobile platform for travelers that will provide them with more information that simply booking a vacation rental. This means that renters will be able to get contact information, key codes, information on how to use equipment in the house, and information about location restaurants.
Earlier this year, HomeAway acquired a hospitality app company called Glad To Have You. Glad To Have You was integrated into the HomeAway platform.