Expedia Buys HomeAway for $3.9 Billion
Look out, Airbnb.
Expedia is already well known as a vacation-planning tool, but now the brand is looking to get more involved in temporary home rentals. The website already hosts a "Hotels" tab, but recently bought Airbnb competitor HomeAway for $3.9 billion. Matched with Expedia's previous purchase of Orbitz and Travelocity earlier this year, and it's safe to say the brand is looking to expand in a big way. In a press release, Expedia shares that they've "long had its eyes on the fast-growing ~$100 billion alternative accommodations space." The deal won't close until 2016, but the writing is on the wall. Watch your back, Airbnb.
Erika Owen is the Audience Engagement Editor at Travel + Leisure. Follow her on Twitter and Instagram at @erikaraeowen.