Australia’s Fairfax Media Ltd.FXJ.AU +0.92% has hired Goldman Sachs Group Inc. after receiving bid approaches for its online vacation rental unit Stayz Group, a person familiar with the matter said Thursday.


The unit, which recorded 13 million Australian dollars (US$12 million) in earnings before interest, tax, depreciation and amortization in the 2012 fiscal year, has been growing at a compound annual rate of 30%, according to filings.

Based on price-to-earnings multiples of online accommodation-booking peers like Holdings Ltd.WTF.AU -1.02%, HomeAway IncAWAY -3.39% and Priceline IncPCLN -0.13%, Stayz could fetch A$200 million or more.

Stayz, which connects property owners with holidaymakers, receives 2.4 million visits a month, according to a Fairfax investor presentation in June. Its three portals–namely Stayz, Rentahome and Takeabreak–compete for Australia’s online accommodation market, which is estimated to be worth around A$3.1 billion by Euromonitor International.

According to the same Fairfax presentation, Stayz lists 48% of all vacation rentals in the Australian market.

Fairfax, which is 15%-owned by Australia’s richest person Gina Rinehart, acquired Stayz for A$12 million in 2005.

Its second-largest shareholder believes the company should explore the sale of its other online businesses. Allan Gray portfolio manager Simon Marais told MoneyBeat, “Domain is obviously their key digital asset, there’s no need to hang on it.”

Domain, which lists houses and apartments for sale or rent, was valued at up to A$370 million in a note by J.P.Morgan analysts dated June 7.