From the Wires
HomeAway Inventory Now Accessible to China's Travel Market via Tujia.com
By: PR Newswire
Dec. 5, 2012 02:01 AM
AUSTIN, Texas, Dec. 5, 2012 /PRNewswire/ -- HomeAway, Inc. (NASDAQ: AWAY), the world's leading online marketplace of vacation rentals, has made selected property listings available to Chinese travelers through a distribution partnership with Tujia.com, a leader in the developing vacation rental industry in China.
This distribution agreement extends the relationship of the two companies beyond the investment HomeAway® made in Tujia.com earlier this year, and represents an important opportunity for HomeAway to introduce vacation rental properties outside of China to Chinese travelers, 39 million of whom traveled overseas in the first half of 2012 alone.
"We are excited about the potential in China, where the vacation rental industry is only now developing," says HomeAway CEO Brian Sharples. "Although this distribution agreement will not have a meaningful impact on our short-term financials, it opens China's travel market to HomeAway owners and property managers, and is reflective of our continued interest in growing our presence in Asia."
HomeAway's vacation rentals selected for inclusion on Tujia.com are in the most desirable destinations for Chinese nationals traveling abroad, including homes in Australia, Western Europe, Southeast Asia and the United States. Tujia.com has translated each HomeAway listing into Mandarin Chinese, and serves as an intermediary to help Chinese travelers book homes in countries where they are not familiar with the local language.
"Multigenerational travel is common among the Chinese because of the culture's focus on family. Vacation rentals are ideal for those kinds of trips," says Justin Jun Luo, chief executive officer of Tujia.com. "As vacation rentals grow in popularity and China's travel market matures, travelers will reap the benefits of having the extra space, kitchen, privacy and value."
HomeAway invested in Tujia.com in May 2012, joining C-Trip.com International, Ltd. (NASDAQ: CTRP), a leading travel service provider in China and largest investor in Tujia.com.
Tujia.com is a high-quality vacation rental reservation platform that provides online search, inquiry and booking services of properties in tourist destinations. It provides high-quality new vacation experience for travelers and flexible value-added service of idle asset trusteeship for owners. Since its formal operation on December 1st, 2011, it has become a leading brand of domestic vacation rental model in China.
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SOURCE HomeAway, Inc.
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