Gloomy Economy Drives Growth of Vacation Rental Industry

Spurs Increased Interest in Renting Among Second Home Buyers

AUSTIN, Texas, March 30 /PRNewswire/ -- HomeAway, Inc. the world's largest
online vacation rental marketplace, today released research confirming the
economy is playing a significant role in the growth of the vacation rental
industry and in creating opportunities for second home owners.

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According to proprietary research commissioned by HomeAway(R) as part of the
National Association of Realtors' (NAR) 2008 Investment and Vacation Home
Buyers Survey released today, the economy has more second home owners than
ever before deciding to rent their homes to vacationers.

While the NAR reports a sharp decline in total second home sales for the
second consecutive year, the percentage of buyers purchasing with the intent
to rent has more than doubled since 2005, reaching a record-high of 27 percent
in 2008.

Even for the second home buyers who do not intend to rent over the next 12
months, nearly two-thirds (66 percent) say the economy has increased their
interest in renting at some point in the future, reveals the HomeAway
proprietary questions.

It also shows owners plan to make their vacation properties available to rent
for 15 weeks per year - up from 12 weeks in 2007 -- and consider the Internet
an important marketing tool, with 74 percent planning to advertise online, up
from 70 percent in 2007.

These results are consistent with the first major study on the industry
released in January 2009, PhoCusWright'sVacation Rental Marketplace: Poised
for Change, which estimates the U.S. vacation rental industry at more than $24
billion, and also projects significant growth in online vacation rental
revenues over the next two years.

This same study found owners advertising on the HomeAway sites, HomeAway.com,
VRBO.com and VacationRentals.com, spend on average 43 percent less on
marketing their vacation rentals, and yield more online booking inquiries and
revenue than other sites.

"The down economy has had a significant positive impact on the vacation rental
market," says Brian Sharples, founder and CEO of HomeAway. "NAR's survey
shows more second home owners than ever are realizing that from the get-go
they can offset the cost of ownership and in many cases profit from their
second homes by renting them out." In fact, HomeAway owners average $20,000 a
year in rental revenue.

Sharples also notes two other important factors influencing the industry: not
only have vacation homes sales hit an all-time high of 1.07 million in 2006,
but many homeowners also begin to rent their vacation home after one or two
years of purchasing it because it's not used as much as anticipated.

"Not surprisingly, HomeAway is experiencing strong new listings growth across
our sites. This increase in supply is being met by an upswing in demand from
travelers, who continue to discover the exceptional value that vacation
rentals offer compared to hotels," says Sharples.

About HomeAway, Inc:
HomeAway is the worldwide leader of online vacation rentals, representing more
than 360,000 vacation rental home listings across 118 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,
FeWo-direkt.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.

For information contact:
Eileen Buesing
Director of Global Public Relations
HomeAway, Inc.
Office- 512-493-0375
ebuesing@homeaway.com

SOURCE HomeAway, Inc.

Eileen Buesing, Director of Global Public Relations of HomeAway, Inc.,
+1-512-493-0375, ebuesing@homeaway.com