The vacation rental industry just got a shake-up. HomeToGo, a major player in European vacation rentals, has finalized its acquisition of Interhome, a well-known rental provider. This move is making waves across the industry, and this article will break down what it means for vacation rental managers—whether you’re in Europe or the U.S.
What’s Happening? (And Why Interhome Isn’t Your Typical PMC)
HomeToGo started as a metasearch engine—think Kayak or Google Flights, but for vacation rentals. It aggregated listings from various sources to help travelers find the best deals. Over time, HomeToGo evolved into a booking platform, allowing travelers to book directly on its site, earning a commission on each transaction.
Interhome, on the other hand, operates as a rental agency rather than a traditional full-service property management company (PMC). It handles bookings and some operational support, but unlike U.S.-based PMCs such as Vacasa, Interhome does not manage every aspect of a property. Instead, it often partners with local providers for services like cleaning, maintenance, and guest support.
This distinction is key: Interhome is more of a marketing and distribution platform than a full-scale property manager.
By acquiring Interhome, HomeToGo is engaging in vertical integration, aiming to control more of the process—from the initial search and booking to the actual guest stay. It’s similar to a major hotel booking platform deciding to own some of the hotels it lists.
The Take Rate Quest: Why HomeToGo Wants a Bigger Slice of the Pie
“Take rate” refers to the percentage of revenue a platform keeps from a booking.
- Before: HomeToGo made money mainly through ads and referral clicks (low take rate).
- Transition: It shifted to a direct booking model, taking a commission per reservation (higher take rate).
- Now: By owning Interhome, HomeToGo can capture even more revenue—not just from bookings, but also from property management fees and additional services.
Additionally, HomeToGo is growing its SaaS business (HomeToGo Pro), selling software tools to property managers. This further boosts its take rate by increasing the revenue generated from each booking.
Strategic Context: The Interhome Acquisition
The acquisition of Interhome was first announced in October 2024, when HomeToGo entered non-exclusive discussions to purchase the company from Swiss retail giant Migros. The deal was finalized in early 2025, with a purchase price reportedly in the low three-digit million range in Swiss francs, financed through capital increases, senior debt, and available cash.
Interhome’s 40,000 vacation rentals across 28 countries provide HomeToGo with a strong inventory base, particularly in German-speaking markets, where the brand is well-established.
However, as with any major acquisition, investors and industry stakeholders have raised questions about how smoothly the integration will go.
Synergies: Where the Magic Could Happen
This merger isn’t just about expanding—it’s about combining strengths:
- Tech Integration → HomeToGo’s tech expertise can optimize Interhome’s operations. AI-driven pricing tools could automatically adjust rates, and smarter communication systems could enhance guest management.
- Marketing Power → Interhome is a well-known brand in Germany, Switzerland, and Austria, helping HomeToGo expand its direct booking footprint in these key regions.
- Data Sharing → Merging data from both companies can improve targeting and personalization. HomeToGo learns more about traveler behavior, and Interhome gains insights into property performance.
- Cross-Selling → HomeToGo can promote Interhome’s properties to its massive user base, while Interhome can introduce HomeToGo Pro to its property owners.
Risks: Where Things Could Go Wrong
Mergers are complex, and potential challenges include:
- Integration Headaches → Merging two companies with different structures and cultures is rarely smooth.
- Owner & Employee Resistance → Interhome’s property owners and staff may be hesitant about changes to the business model.
- Brand Balancing Act → HomeToGo and Interhome have distinct identities. Managing both without confusion will be tricky.
- Industry Pushback → Other platforms that list Interhome properties (e.g., Airbnb, Booking.com) may not welcome this move, leading to competitive tensions.
- Regulatory Scrutiny → A larger market share could attract regulators concerned about fair competition.
Conclusion: The Future is Uncertain, But Change is Coming
The HomeToGo-Interhome deal signals a broader industry shift toward vertical integration and tech-driven efficiency. Whether you’re managing vacation rentals in Europe or the U.S., the key takeaway is clear:
- Stay informed about platform changes.
- Adapt to evolving distribution models (e.g., platforms blending bookings with partial management).
- Prioritize guest experience—because no amount of tech or consolidation replaces great hospitality.
The vacation rental landscape is evolving, and those who embrace innovation will be best positioned for success.
