HomeAway (VRBO.com Parent Company) Press Release

Vacation Rentals Growing in Popularity Among Travelers Looking for Better Value

New HomeAway Report Reveals Travelers Choosing Vacation Rentals for More Family Vacations, Weekend Getaways and Even Business Trips

Story Highlights:

· Travelers are considering vacation rentals for everything from weekend getaways (65 percent) to business trips (20 percent)
· 66 percent of vacation rental property owners have offered special deals this year
· One in five owners new to the vacation rental market cited economic conditions as the reason why they started renting out their vacation home

AUSTIN, TEXAS, May 21, 2009 – Vacation rental homes and condominiums are becoming even more attractive to consumers looking for greater value from their travel dollar, according to HomeAway – the world’s leading online vacation rental marketplace – which today released the first edition of its new quarterly “HomeAway Vacation Rental Marketplace Report.”

According to the report, approximately 66 percent of vacation rental property owners are offering or have offered special deals or incentives at some point this year in response to the current economic climate.

· 27% discount rental rates by a specific dollar amount
· 24% offer a set percent off the normal rental rate
· 16% offer a free night with the purchase of a specific number of nights
· 15% offer free cleaning services
· 11% do not require a minimum stay
· 7% offer a complimentary product or service, such as tickets to a local attraction

While travelers may come across some unique deals this summer including pre-arrival grocery shopping services and complimentary meals or gift  askets upon arrival, 34 percent of  owners surveyed did not offer special deals or incentives. By way of explanation, one of those owners said, “I didn’t offer anything but a great house, in a great location, at a very reasonable price.”

“With or without deals or special offers, there is an underlying value to vacation rentals,” said Mike Butler, chief commercial officer of HomeAway.  Vacation rental homes enable you to rent a whole home for less than the cost of a hotel room and then even stretch your travel budget further by taking advantage of the full kitchens and extra amenities.”

Looking to a Vacation Home for Extra Income

While a vacation rental affords travelers many benefits, it can also provide a steady stream of revenue for the owners. In fact, Butler said more and  ore owners are renting out their properties to generate extra income. The HomeAway report found that the economy played an important role among owners who began to rent their vacation homes to travelers in the past 12 months.  One in five owners (21 percent) new to the vacation rental market  ited economic conditions, including the need to generate additional income, a recent job loss, the inability to sell the home or the risk of foreclosure,  as the reason why they started renting out their vacation home. In addition to citing economic conditions as a factor, many owners new to renting their vacation homes are entering the market to generate a profit.

“The research suggests that in the past, many second home owners entered the rental market with a desire to cover all their expenses, but now listing their properties to cover expenses is an economic necessity,” said Butler.

About HomeAway, Inc.

HomeAway is the worldwide leader of online vacation rentals, representing nearly 400,000 vacation rental home listings across more than 120 countries. The company has contributed significantly to the popularity of the vacation rental industry, making it easier than ever for both owners to advertise and profit from their second homes and for millions of travelers to find the perfect vacation rental. The HomeAway sites include HomeAway.com, VRBO.com, VacationRentals.com, Holiday-Rentals.co.uk, OwnersDirect.co.uk, FeWodirekt. de, Abritel.fr and Homelidays.com.

HomeAway is funded by Austin Ventures, Institutional Venture Partners, Redpoint Ventures, Technology Crossover Ventures and Trident Capital. The company is based in Austin, Texas and has offices in London and Ashtead in England; Kassel, Germany; and Marseille and Paris, France.

Shopping

Have I ever mentioned how much I loathe shopping? If I could spend as much as I wanted, I might like it a little, but that’s just part of the issue. I don’t mind shopping the discount stores to get around the prices. I couldn’t even tell you what the popular labels are these days, and frankly couldn’t care less! However, I do care about style and still won’t go out looking like Steve Erkel’s long lost cousin. Luckily, dressing with some sense of fashion doesn’t have to come at a high cost if you know where to look. So far, my boys have never revered popular labels as important, and my girls are following the same path as well. I must be doing something right there!

Aside from the absolutely insane prices of clothes these days, almost nothing seems to fit right. Of course, it doesn’t help that I’m extremely picky about the way things fit. Having long legs and a short torso doesn’t help either. Jeans either reveal things that should not be revealed at this stage of the game or they come up so high that the waistband can be used as an underwire! And shirts… I now realize that the “grandma arms” have arrived. I tried on a breezy cotton short-sleeved shirt in a small, which fit my body nicely. However, I thought I might have to amputate my arms to get out of the darn thing! I then tried it on in a medium. The arms were perfect, but when I raised my arms, the shirt was so wide, it looked like a maternity shirt. (Despite some misunderstandings or miscommunications somewhere, I am not, nor will I ever again be, pregnant. )

So mall crawls for us are for quirky boutique purchases and the food court only. Ali and I walked into Gap yesterday and walked back out after seeing the price of a pair of jean shorts (not the bootie shorts either). For about one third of a whole pair of jeans, they wanted $49.50! I’m sorry, if you are spending this amount of money on about 1.5 yards of denim and some notions, you are seriously due for a psychiatric evaluation! We went to Old Navy next where the prices were much better, but they only have even sizes. The zero was too tight, and the 2 was too loose. Off to JCPenney, where more disappointment set in. For a store that had such a huge selection of jeans in the winter, their denim selection for spring/summer is pathetic. We did find one pair of denim shorts in a size 1 that fit, though. Final price? Just $14.50! Next stop: Target, Kohls, & Marshall’s (in that order).

The final part of shopping that I don’t care for is the amount of time it takes. Shopping by myself isn’t as bad because I know exactly what I want and how I want it to fit. Miranda would buy everything, but Ali is picky like me. Waiting on her decisions sometimes is exhausting, but I do understand her frustrations.

Hopefully today will bring better results. There may be a “Shopping – Part II” to follow.