Tripadvisor reports underwhelming Q2 results

Profit margins were negatively impacted by a decline of 7% in hotel revenue, the most profitable segment for the company

Aug 4, 2023

Despite overall revenue rising by 18% to $494 million, segment revenue for the TripAdvisor core brand increased by only 2% to $279 million. However, the tours and activities company, Viator saw a significant growth in revenue of 59% to $216 million, and now accounts for nearly half of Tripadvisor's revenue.

Key takeaways

  • Tripadvisor CEO Matt Goldberg acknowledged Viator is the company’s “high growth business,” with gross booking value of $1.1 billion in Q2, up 40% year-over-year;
  • Investors were disappointed with the margin compression and underperformance in the hotel segment, particularly as the travel sector is still recovering from the impact of the pandemic;
  • TripAdvisor announced a cost-cutting program, including layoffs in the TripAdvisor core segment, which is expected to save the company $35 million annually.

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