1) current top management are financial background guys without practical vacation rental industry experience. 2) Homeaway is a roll up company which has acquired thriving companies but then enacted policies which inhibit further growth of those acquired companies. 3)current Homeway policy for traveller reviews discourages the property owner from renewing an advertising subscription. 4) current one sided review policy makes Homeaway vulnerable to a class action lawsuit by property owners (advertisers)against the company. 5) Homeaway corporate culture is not customer service oriented and antagonizes existing advertisers. 6)current AWAY market cap is too high given the fundamental business problems, especially the alarmingly low advertsier renewal rates caused by nonsensical business policies.
Thanks. It was disconcerting that they marketed the company to investors as having been done with the acquisition phase, and then what did they do? Acquire. Quick! Build a website for rental homes and sell it to HomeAway while they still have funny money to burn! Sell them a website, quick, before they burn more money on fancy offices and such.
Also, a bit disconcerting to see nonstop insider selling. What an excellent sign of self-confidence and commitment. Where are the Carnegies and the Vanderbilts--people who believed in themselves and their businesses and tied their fortunes to them, accordingly? Not at HomeAway, apparently.
I like many of the things that HomeAway has done and is doing, but there are negatives, too. At this crazy valuation, those negatives carry weight. I wish them the best and have been content to watch from the sidelines for now.