HomeAway (Vrbo)
2015
$3.9B
Why
Facing an unprecedented, existential threat from the rapid rise of Airbnb in the alternative accommodations sector, Expedia executed an aggressive, $3.9 billion blockbuster acquisition of HomeAway to forcefully enter the vacation rental market.
Impact
rebranded entirely under the heavily promoted 'Vrbo' moniker, this acquisition established Expedia's defensible stronghold in whole-home, family-oriented vacation rentals, particularly dominating lucrative beach and mountain destinations.
Outcome
Vrbo created a strategic defensive moat against Airbnb, integrating a vast, unique alternative accommodation inventory directly into Expedia's global travel network and capturing demand during the pandemic-driven surge in remote domestic travel.