HomeAway Invests In Chinese Vacation Rentals Site

Austin-based HomeAway has made an investment in a Chinese operator of an online vacation rental site, the firm said yesterday. HomeAway said it has purchased a minority stake in Tujia which it says is the first site in China to target the high end, online vacation rental market. Financial terms of the investment were not disclosed. HomeAway is joining venture capital firms Lightspeed China Partners and CDH Investments, and Chinese travel services firm International in the investment round. HomeAway said the transaction is subject to regulatory approval of the Chinese government.