HomeAway sees 40% growth

Holiday rental specialist HomeAway claims to have increased revenue by 40% in the past year and is predicting similar growth for next year.

HomeAway Europe managing director Petra Friedmann, who joined from Opodo earlier this year, described rentals as a new segment of the travel industry which is just starting to develop.

She also said that despite HomeAway being the dominant player worldwide the brand is still widely unknown.

Plans for the future include revamping the UK and European sites to make the more simple and bring on additional functionality as well as build the review section.

A ‘Guestbook’ facility is also being added for owners to include all the details of their property and any other tips and advice for holidaymakers.

Online marketing spend is also being ramped up to further awareness of the company following the launch of sites in Finland and Portugal.

“We still have work to do to improve these sites and add new functionality but it is more important to get the HomeAway brand out in Europe.”

The company is also in discussions over distribution partnerships in Europe.

A year ago HomeAway raised US$250 million in funding with money earmarked for further ‘strategic investments’ as well as for marketing.

The company has also rebranded its UK sites to HomeAway Holiday-Rentals and Owners Direct from HomeAway.