Fairfax trades Stayz for home improvement

Fairfax’s Stayz sell-off may signal further divestments of underperforming digital assets such as RSVP in pursuit of capital to grow its Domain business and new content and events units.

There can be no denying Fairfax’s $220 million sale of Stayz, announced at the close of Wednesday’s trade, is a solid result for the company. Acquired in 2004 for the modest sum of $6 million, Fairfax has managed to grow the business significantly, with the sale price representing an impressive compound annual growth rate of 49 per cent.

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