Merger with Liberty TripAdvisor Holdings
Tripadvisor closed its merger transaction with Liberty TripAdvisor Holdings, effectively purchasing all shares held by LTRIP and no longer having a controlling shareholder.
Positive Financial Performance
Consolidated revenue was $398 million, representing 1% growth, or approximately 3% growth in constant currency. Adjusted EBITDA was $44 million or 11% of revenue, exceeding expectations.
Viator Segment Growth
Booked experiences grew 15% and revenue grew 10%, or approximately 12% in constant currency to $156 million. The adjusted EBITDA loss of $18 million represented an 8 point improvement in margin.
TheFork Revenue Growth
Revenue grew 12% or 16% in constant currency to $46 million. Q1 revenue growth from software subscriptions exceeded 90%.
AI Integration and Strategic Partnerships
Tripadvisor established new strategic partnerships with Amazon Alexa and Microsoft Azure, and is integrating AI to enhance customer service, engineering, content moderation, and business analytics.