US based online marketplace, HomeAway, has acquired Stayz Group, that operates Stay.com.au, online vacation rental site in Australia, for US$198 million in cash. 

Stayz, which also includes Rentahome.com.au, TakeABreak.com.au and YesBookIt, was purchased from Fairfax Digital, a division of Fairfax Media Limited.

Founded in 2001, and purchased by Fairfax Media in 2005, Stayz generated A$25.4 million in revenue in its last fiscal year 2013 (ended June 2013). It operates under a commission-based business model, which produces the majority of its revenue.

“The acquisition of Stayz adds 33,000 additional Australian-based properties to the HomeAway network. It also provides HomeAway a strong momentum to our newly-launched pay-per-booking business, something Stayz has worked over the years to optimise,” said HomeAway CEO Brian Sharples. “Additionally, they have demonstrated that a vacation rental business can generate attractive margins operating on primarily a pay-per-booking model, and we look forward to learning from their team.”

The acquisition of Stayz continues HomeAway’s investment and reach into the Asia Pacific region. In 2011 it purchased the vacation rental business from REA Group Limited, and subsequently launched HomeAway.com.au.

In 2012 the company made a minority investment in China-based vacation rental company, Tujia.com. In July this year it acquired majority control of short-term rental site, travelmob, followed by a majority purchase of New-Zealand-based vacation rental site, Bookabach, last month.

Stayz and its 40-person team will continue to operate from its headquarters in Sydney, and will be managed by its current general manager, Anton Stanish, Its inventory will be integrated into HomeAway’s pay-per-booking inventory in the US and Europe to generate additional traffic for Stayz properties from international markets.