AA, founders sells 55 percent of Bookabach site to Texas-based HomeAway

Wed, 06 Nov 2013

Nov. 7 (BusinessDesk) – The New Zealand Automobile Association has sold its stake in online holiday home booking site Bookabach to HomeAway, a global vacation rental home company based Austin, Texas. The deal includes Bookastay, an Australian affiliate, HomeAway said in a statement. Terms of the all-cash deal weren’t disclosed though the US company said it would discuss the transaction on a conference call for its third-quarter earnings later today. Bookabach was a 50-50 joint venture between the AA and the website’s founders. AA sold its en...
Primary Sector
$25m for Milford tunnel as Southland gets pre-election funding
Brent Melville | Thu, 16 Jul 2020

The Homer Tunnel, a transport lifeline into and out of Milford Sound, Fiordland, will receive a $25 million upgrade as part of a swathe of pre-election government investment into Southland that also i...

Economy
Cheaper petrol, accommodation through lockdown tames inflation
Paul McBeth | Thu, 16 Jul 2020

Cheaper petrol and accommodation slowed the annual pace of inflation through the covid-19 lockdown, more than offsetting price spikes in other consumer goods. The consumers price index shrank 0.5 p...

Retail
Delegat profits up 37%
Victoria Young | Thu, 16 Jul 2020

Wine maker Delegat Group's unaudited profit after tax for the year to June 30 rose 37 percent to $64.1 million, the company reported. The figure includes fair value movements in its vines and deriv...