Expedia’s recent purchase of vacation-rental company HomeAway has given it access to the same growing market as Airbnb and should result in “significant upside potential” for its stock, wrote CLSA analyst James Lee in a note this week. Before Expedia bought the company for $3.9 billion, HomeAway charged homeowners a fee every year to list their properties, but that brought in too little revenue. In 2015, HomeAway had $15 billion in gross bookings (the total amount people spent to book rooms on its platform) but only $500 million of that came back to HomeAway in the form of revenue.
- American City Business Journals•22 days ago
A San Francisco ordinance that fines short-term rental sites like Airbnb for using unregistered units has been temporarily blocked by a federal judge, who said that both sides need to work harder to find a solution. You haven't worked hard enough," U.S. District Court Judge James Donato told the lawyers for Airbnb, HomeAway and the City of San Francisco, reports KTVU. The case of Airbnb v. City and County of San Francisco, 16-cv-03615, U.S. District Court, Northern District of California (San Francisco) hinges on a specific point: Whether or not online businesses can be held liable for content produced by users on their sites.
- Benzinga•last month
Cantor Fitzgerald says Expedia Inc (NASDAQ: EXPE )’s third quarter performance shows signs of progress in room nights despite missing expectations. “While reported room nights growth lagged expectations, ...
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