Key Stats
Vrbo is a wholly owned subsidiary of Expedia Group (Nasdaq: EXPE).
Expedia Group reported $13.7 billion in revenue and $110.9 billion in gross bookings for 2024.
Vrbo generated an estimated $3.8 billion in revenue in 2024, roughly 28% of Expedia’s total.
No single individual or entity holds a majority of Expedia Group’s economic shares — ownership is spread across institutional investors, with Vanguard and BlackRock at the top.
Vrbo is owned by Expedia Group, Inc., a publicly traded travel technology company headquartered in Seattle. Expedia acquired Vrbo in 2015 as part of its $3.9 billion purchase of HomeAway, and the platform now operates as Expedia’s dedicated vacation rental brand. There is no separate Vrbo stock — anyone wanting a stake in Vrbo must buy Expedia Group shares on the Nasdaq exchange under the ticker EXPE.
The platform connects travelers with whole-home vacation rentals including houses, condos, cabins, and apartments. Since 2023, Vrbo has been integrated into Expedia’s One Key loyalty program alongside Hotels.com, and its consumer-facing technology now runs on Expedia’s unified tech stack. Ariane Gorin became Expedia Group’s CEO in May 2024, succeeding Peter Kern. Barry Diller, the media executive who has shaped the company since 2005, remains chairman and senior executive.
History of Vrbo’s Founders and Ownership
From a Ski Condo to a Global Brand
David Clouse, a software programmer in Aurora, Colorado, created the VRBO website in 1995 to rent out his condo near Breckenridge Ski Resort. The site — originally standing for “Vacation Rentals by Owner” — took off with other property owners who wanted to list homes for short-term stays. By 2006, Vrbo had more than 65,000 rental listings and was adding roughly 100 new properties per day. HomeAway, another vacation rental aggregator, acquired Vrbo that year and kept it running as a separate brand alongside a portfolio of regional rental sites.
The Expedia Acquisition and Rebrand
In November 2015, Expedia Group acquired HomeAway — and with it, Vrbo — for $3.9 billion. Expedia initially kept both the HomeAway and Vrbo brands active. In March 2019, the company rebranded VRBO to “Vrbo” with a new logo and the pronunciation “ver-boh.” By 2020, Expedia retired the HomeAway name entirely in the United States and consolidated all vacation rental operations under Vrbo. The goal was a cleaner brand identity to compete with Airbnb, which had come to dominate the short-term rental market globally.
Who Owns Vrbo?
Vrbo has no independent shareholders. It is entirely owned by Expedia Group, which is itself a public company with dispersed ownership. The chain runs: Vrbo → Expedia Group → Expedia’s shareholders.
Expedia Group’s Corporate Structure
Expedia Group started in 1996 as a division inside Microsoft. It was spun off as a public company in 1999, then acquired by IAC (Barry Diller’s holding company) in the early 2000s. A 2005 spinoff separated Expedia from IAC, and in 2019 Liberty Expedia Holdings unwound its supervoting shares, giving Expedia a one-share-one-vote structure. Today, institutional investors hold about 94.8% of Expedia Group’s shares. Insider ownership sits at roughly 1.3%.
Vrbo Ownership Chain
Barry Diller’s Influence
Barry Diller does not hold a majority economic stake in Expedia Group, but his Class B shares carry 10 votes each, giving him roughly 29% of total voting power. That outsize influence, combined with his role as chairman and senior executive, makes him the most powerful individual in Expedia’s governance. Before Expedia, Diller ran Paramount Pictures and created the Fox Broadcasting Company — the same network that became part of what is now Disney’s media empire after the 2019 acquisition of 21st Century Fox assets.
Who Is on the Board of Directors?
Vrbo does not have its own board. Governance sits with Expedia Group’s board of directors, which as of April 2025 consists of 11 members.
Key Executives
Ariane Gorin took over as CEO in May 2024 after spending more than 11 years at Expedia in various executive roles, most recently running the company’s B2B business. Peter Kern, the previous CEO (2020–2024), moved to vice chairman and remains on the board. Scott Schenkel became chief financial officer in February 2025. Diller, who has chaired Expedia since 2005, provides strategic direction alongside Gorin’s operational management.
Board Composition
The board includes a majority of independent directors, in line with Nasdaq listing requirements. Members bring backgrounds across finance, technology, consumer products, and media. Beyond Diller and Gorin, the board includes Peter Kern as vice chairman. Independent directors fill the audit, compensation, and nominating committees. The board approved a $2 billion share repurchase program and reinstated a quarterly cash dividend of $0.40 per share starting in March 2025.
Largest Shareholders of Expedia Group
Since Vrbo is a subsidiary, its indirect owners are the shareholders of Expedia Group. Institutional investors overwhelmingly dominate the shareholder register.
Top Institutional Shareholders (% of Expedia Shares, May 2025)
Institutional Ownership
Vanguard Group is Expedia’s largest shareholder with about 15.2 million shares, roughly 12% of the company. BlackRock holds approximately 9.7 million shares (7.6%), and State Street also maintains a sizable position. These firms hold Expedia stock through index funds and ETFs, not as active managers directing strategy. Under Expedia’s one-share-one-vote structure (for common stock), their economic and voting stakes are equal, though Diller’s Class B shares give him disproportionate voting power.
Capital Returns
Expedia repurchased over 12 million shares for $1.6 billion during 2024 and bought another 1.7 million shares for $330 million in early 2025. The buyback program and quarterly dividends signal confidence in Expedia’s cash generation, which benefits Vrbo indirectly through continued investment in the platform’s technology and marketing.
FAQs
Who owns Vrbo now?
Vrbo is wholly owned by Expedia Group, Inc., a publicly traded travel technology company that also operates Expedia.com, Hotels.com, Orbitz, and Travelocity.
Is Vrbo the same company as Airbnb?
No. Vrbo belongs to Expedia Group. Airbnb is a separate, independent public company (Nasdaq: ABNB) with its own ownership structure and leadership.
Can you buy Vrbo stock?
Not directly. Vrbo has no separate stock listing. To invest in Vrbo, buy shares of Expedia Group (Nasdaq: EXPE).
Who founded Vrbo?
David Clouse created the VRBO website in 1995 in Colorado to rent out his ski condo near Breckenridge.
How much did Expedia pay for Vrbo?
Expedia Group acquired HomeAway, Vrbo’s parent at the time, for $3.9 billion in November 2015.