Instead of its hotel price comparison service, where online travel agencies and hotels bid for placement in its hotel listings, Tripadvisor will be focusing revenue growth efforts on experiences, dining, hotel business-to-business, and media efforts.
Tripadvisor Co-Founder and CEO told analysts the company expects:
“Our non-hotel auction revenue will drive the lion’s share of our future growth. We expect E&D (Experiences & Dining) revenue alone will exceed the hotel auction in 2020. And over the coming years, the relative sizes of these revenue lines will reduce the hotel auction’s influence on our overall results.”
In the fourth quarter, Experiences & Dining revenue grew 16 percent to $109 million while Hotel, Media & Platform revenue fell 6 percent to $194 million, and Other revenue, including short-term rentals, cars and cruises, dipped 30 percent to $32 million. Total revenue in the fourth quarter dropped 3 percent to $335 million.
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