AUSTIN (KXAN) — Austin’s HomeAway is ready for growth in the vacation rental business and announced Friday the company will occupy a new 16-story office tower in The Domain, the location’s largest.
“We’re very excited about this,” said John Kim, HomeAway president. “It really allows us to double down on Austin and really take advantage of the talent.”
The new 315,000 square foot building, which will be located at the intersection of Domain Drive and Alterra Parkway, will accommodate an extra 2,000 employees on the product and design, engineering and information technology teams. HomeAway’s tech team has grown by 50 percent in the past two years. The company, which was created in 2006, currently has 1,500 employees.
“We’re already hiring at a rapid rate across all disciplines worldwide, and our new offices will help us continue to grow, especially as we look for talented designers, engineers and data scientists,” said Kim.
Expedia acquired HomeAway in 2015 and ever since then, they’ve been more aggressive about raising brand awareness, especially as Airbnb has become more popular. VRBO.com is also owned and operated by HomeAway.
“One of the things that is fueling our growth is the vacation rental industry and the home rental industry is just growing like crazy,” explained Kim. “It’s the fastest growing category in all of travel.”
Dallas-based TIER REIT will co-develop the building with Austin-based Endeavor Real Estate Group. A groundbreaking is expected to happen in the next 60-90 days.
The company plans to maintain its presence downtown and in south Austin, with a move-in to the new location in 2019.