Fairfax Media Limited
(ASX:FXJ) has sold its holiday rentals website Stayz to US-listed group HomeAway for about $220 million.
The sale is a windfall for Fairfax, which acquired the business in 2005 for $12.7 million.
Analysts recently put a value of $140 million on the business.
Fairfax chief executive Greg Hywood said in a memo to staff, the media group had received some initial approaches for the business that were compelling.
The interest in Stayz follows last year's sale of Fairfax's remaining stake in New Zealand online auction house Trade Me for $616 million.
Fairfax booked a net loss of $971,000 in fiscal 2013.
