Tripadvisor Inc stands as a prominent player in the global travel and experiences industry, operating a family of brands that connect people to memorable experiences worldwide. With a focus on trusted travel guidance, innovative platforms, and two-sided marketplaces, Tripadvisor Inc leverages its brands, technology, and capabilities to serve a large global audience.
Tripadvisor Business Segments: Detailed List and Revenue Breakup %
Tripadvisor Inc operates across three key business segments: Brand Tripadvisor, Viator, and TheFork. These Tripadvisor business segments form the core of the company’s strategy to empower travelers and connect them with experiences worth sharing. Each segment focuses on distinct aspects of the travel ecosystem, leveraging trusted brands, technology platforms, and capabilities to offer rich content, travel guidance products and services, and two-sided marketplaces for experiences, accommodations, restaurants, and other travel categories.
Brand Tripadvisor Segment
The Brand Tripadvisor segment empowers everyone to be a better traveler by serving as the world’s most trusted and essential travel guidance platform. Since its founding in 2000, the Tripadvisor brand has developed a relationship of trust and community with travelers and experience seekers by providing an online global platform for travelers to discover, generate, and share authentic user-generated content in the form of reviews and opinions for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises in over 40 countries and in more than 20 languages across the world. Tripadvisor offers more than 1 billion user-generated reviews and opinions on over 9 million experiences, accommodations, restaurants, airlines, and cruises. Tripadvisor’s online platform attracts one of the world’s largest travel audiences, with hundreds of millions of visitors annually.
Media and advertising revenue offers endemic and non-endemic advertisers opportunities to promote their brands primarily through display-based advertising placements across brands on the platform. Display-based advertising is predominantly sold on a CPM basis. Tripadvisor experiences and dining revenue includes intercompany revenue consisting of affiliate marketing commissions earned primarily from experience bookings and restaurant reservation bookings on Tripadvisor-branded websites and mobile apps, fulfilled by Viator and TheFork. Other revenue provides travelers additional offerings across cruises, vacation rentals, flights, and rental cars.
For the year ended December 31, 2024, the Brand Tripadvisor segment generated external revenue of $814 million, representing approximately 44.4% of consolidated revenue. Including intersegment revenue of $135 million, total segment revenue was $949 million. Revenue decreased by $82 million or 8% compared to 2023, primarily due to a decrease in hotel meta revenue and hotel B2B revenue. Adjusted EBITDA was $301 million, down 14% from $348 million in 2023, with adjusted EBITDA margin at 32%.
Viator Segment
Viator’s purpose is to bring extraordinary, unexpected, and forever memorable experiences to more people, more often, wherever they are traveling. Viator elevates tens of thousands of businesses, large and small, by enabling travelers to discover and book iconic, unique and memorable experiences from operators around the globe. The online marketplace is comprehensive and easy-to-use, connecting millions of travelers to the world’s largest supply of bookable tours, activities and attractions—nearly 400,000 experiences from more than 65,000 operators. Viator is a pure-play experiences OTA singularly focused on the needs of both travelers and operators with the largest supply of bookable experiences available to travelers.
Viator relies on the success of travelers and operators who join the marketplace and generate consistent bookings over time. Revenue is generated through commissions for each booking transaction facilitated directly and indirectly through the platform. Through Viator, traveler experience bookings are powered on behalf of third-party distribution partner websites, including the Tripadvisor platform and many of the world’s major OTAs, airlines, hotels, online and offline travel agencies, and other prominent content and eCommerce brands.
For the year ended December 31, 2024, the Viator segment generated revenue of $840 million, representing approximately 45.8% of consolidated revenue. Revenue increased by $103 million or 14% compared to 2023, primarily driven by growth in booking volume across all points of sale in all major geographies and an increase in pricing. Adjusted EBITDA was $33 million, up from $0 in 2023, with adjusted EBITDA margin at 4%.
TheFork Segment
TheFork’s purpose is to deliver happiness through amazing dining experiences as the leading online restaurant booking platform in Europe. At the forefront of championing restaurant culture, TheFork harnesses technology to promote real life connections between diners and restaurateurs. With a network of approximately 55,000 partner restaurants across 11 countries, nearly 40 million app downloads and more than 20 million reviews, TheFork is a go-to platform for all food lovers to enjoy unforgettable restaurant experiences. Through TheFork, users can easily find restaurants according to their preferences, check real-time availability, instantly book online 24/7, benefit from special offers and pay directly to the restaurants. For restaurateurs, TheFork’s technology enables them to optimize reservation management and occupancy rates, increase bookings and visibility, limit the impacts of no-shows, manage payments and streamline operations, all while accessing the broadest community of loyal diners.
TheFork generates transaction fees (or per seated diner fees) paid by restaurant partners for diners seated primarily from bookings through TheFork’s online reservation system. The transaction fee is recognized as revenue after the reservation is fulfilled, or as diners are seated by restaurant partners. Restaurants are invoiced monthly for transaction fees. Subscription fees are generated for providing access to premium online reservation booking software and related services offerings to help manage businesses, with revenue recognized over the subscription period on a straight-line basis.
For the year ended December 31, 2024, the TheFork segment generated revenue of $181 million, representing approximately 9.9% of consolidated revenue. Revenue increased by $27 million or 18% compared to 2023, driven primarily by increased booking volumes largely in direct channels and an increase in pricing. Adjusted EBITDA was $5 million, up from -$14 million in 2023, with adjusted EBITDA margin at 3%.
Tripadvisor Products or Services Offered: Detailed List and Revenue Breakup %
Tripadvisor Inc offers a wide array of products and services designed to connect travelers with experiences, accommodations, restaurants, and more. These Tripadvisor products and services are delivered through innovative platforms and marketplaces, focusing on user-generated content, booking capabilities, and advertising solutions. Below is a detailed list of key Tripadvisor products and services, along with revenue breakup % for 2024.
Tripadvisor-Branded Hotels
Tripadvisor-branded hotels products and services provide contextually-relevant booking links to partner websites on the hotel meta platform. This includes click-based advertising priced on CPC basis, where payments are determined by clicks multiplied by CPC rates from dynamic auctions. Additional B2B offerings include subscription-based advertising for hotels, B&Bs, and specialty lodging properties, enabling promotion of businesses, management of website URLs, email addresses, phone numbers, special offers, and other information. Hotel sponsored placements offer CPC-based advertising.
Revenue from Tripadvisor-branded hotels in 2024 was $585 million, representing approximately 31.9% of consolidated revenue.
Media and Advertising
Media and advertising products and services allow endemic and non-endemic advertisers to promote brands through display-based advertising placements across platforms. Clients include direct suppliers of hotels, airlines, cruises, destination marketing organizations, OTAs, and non-travel businesses. Display-based advertising is sold on CPM basis, with revenue recognized as impressions are delivered.
Revenue from media and advertising in 2024 was $150 million, representing approximately 8.2% of consolidated revenue.
Tripadvisor Experiences and Dining
Tripadvisor experiences and dining products and services merchandise bookable experiences available on Viator and bookable dining reservations on TheFork, earning affiliate marketing commission revenue on bookings driven by the platform. For restaurants, additional B2B offerings include subscription-based advertising providing access to premium online reservation management services, marketing analytic tools, and menu syndication services. Revenue is recognized over subscription period on straight-line basis. Restaurant media advertising placements are priced on CPC basis.
Revenue from Tripadvisor experiences and dining in 2024 was $169 million (including intersegment), but external contribution is part of overall segment. Consolidated, experiences and dining contribute through Viator and TheFork segments.
Other Products and Services
Other Tripadvisor products and services include cruises, vacation rentals, flights, and rental cars offerings. Vacation rentals provide information and services for researching and booking properties like full homes, condominiums, villas, beach properties, cabins, and cottages, listed on Tripadvisor-branded websites and mobile apps, and portfolio brands including flipkey.com, holidaylettings.co.uk, and niumba.com. Revenue is generated from commissions on rental transactions through free-to-list model, recognized net at booking time. Cruises, flights, and rental cars generate revenue primarily through click-based and display-based advertising.
Revenue from other products and services in 2024 was $45 million, representing approximately 2.5% of consolidated revenue.
Viator Products and Services
Viator products and services offer an online marketplace for researching and booking tours, activities, and attractions, with nearly 400,000 experiences from over 65,000 operators. Bookings are powered for third-party distribution partners. Commissions are earned for facilitating bookings, recognized upon experience completion. “Reserve Now, Pay Later” option defers payment.
Viator revenue in 2024 was $840 million, 45.8% of consolidated.
TheFork Products and Services
TheFork products and services provide an online marketplace for discovering and booking reservations at approximately 55,000 restaurants in 11 countries. Users find restaurants by preferences, check availability, book instantly 24/7, benefit from special offers, and pay directly. For restaurateurs, technology optimizes reservation management, increases bookings and visibility, limits no-shows, manages payments, and streamlines operations. Revenue from per seated diner fees recognized after fulfillment, and subscription fees for premium services recognized over period.
TheFork revenue in 2024 was $181 million, 9.9% of consolidated.
Consolidated, Tripadvisor products and services revenue in 2024: Tripadvisor-branded hotels 31.9%, media and advertising 8.2%, experiences and dining (intersegment included in segments), other 2.5%, Viator 45.8%, TheFork 9.9%.
Tripadvisor products and services are designed to reduce friction in traveler journeys, providing trusted guidance, booking ease, and partner value. Investments in data, product, marketing, and technology enhance these offerings, driving engagement and monetization. The portfolio of Tripadvisor products and services positions the company to capture growth in travel, experiences, and dining markets.
Tripadvisor Company History
Tripadvisor Inc has a rich history in the travel industry, evolving from a startup to a global leader in travel guidance and experiences.
Tripadvisor was founded in February 2000. In April 2004, Tripadvisor was acquired by IAC/InterActiveCorp, or IAC. In August 2005, IAC spun-off its portfolio of travel brands, including Tripadvisor, into Expedia, at the time a separate newly-formed Delaware corporation. On December 20, 2011, Expedia completed the spin-off of Tripadvisor into a separate publicly-traded Delaware corporation, referred to as the Spin-Off. Following the Spin-Off, on December 21, 2011, Tripadvisor began trading on Nasdaq as an independent public company under the symbol “TRIP.”
On December 11, 2012, Liberty Interactive Corporation purchased an aggregate of approximately 4.8 million shares of common stock of Tripadvisor from Barry Diller, former Chairman of the Board of Directors and Senior Executive, and certain affiliates. As a result, Liberty beneficially owned approximately 18.2 million shares of common stock and 12.8 million shares of Class B common stock.
On August 27, 2014, the entire beneficial ownership of common stock and Class B common stock held by Liberty was acquired by Liberty TripAdvisor Holdings, Inc., or LTRIP. Simultaneously, Liberty, LTRIP’s former parent company, distributed, by means of a dividend, to the holders of its Liberty Ventures common stock, Liberty’s entire equity interest in LTRIP, referred to as the Liberty Spin-Off. As a result of the Liberty Spin-Off, effective August 27, 2014, LTRIP became a separate, publicly traded company holding 100% of Liberty’s interest in Tripadvisor.
As a result of these transactions, as of December 31, 2024, LTRIP beneficially owned approximately 14.0 million shares of common stock and approximately 12.8 million shares of Class B common stock, constituting approximately 11% of outstanding common stock and 100% of outstanding Class B common stock. Assuming conversion of all LTRIP’s Class B common stock into common stock, LTRIP would beneficially own approximately 19% of outstanding common stock. Because each share of Class B common stock is entitled to ten votes per share and each share of common stock is entitled to one vote per share, LTRIP may be deemed to beneficially own equity securities representing approximately 56% of voting power.
On December 18, 2024, the Company, LTRIP, and Telluride Merger Sub Corp., a Delaware corporation and indirect wholly-owned subsidiary of the Company, entered into an Agreement and Plan of Merger, pursuant to which, subject to terms and conditions, Merger Sub will be merged with and into LTRIP, with LTRIP surviving as an indirect wholly-owned subsidiary of the Company, and immediately following, LTRIP will be merged with and into TellurideSub LLC, a Delaware limited liability company and direct wholly-owned subsidiary of the Company, with ParentSub LLC surviving as the surviving company and wholly-owned subsidiary of the Company.
In connection with the Merger, the shares of LTRIP Series A Common Stock and Series B Common Stock will be converted into the right to receive $0.2567 per share in cash, totaling approximately $20 million; all shares of LTRIP’s 8% Series A Cumulative Redeemable Preferred Stock will be converted into approximately $42 million in cash and 3,037,959 shares of the Company’s common stock; and LTRIP’s 0.50% Exchangeable Senior Debentures of approximately $330 million will be repaid. The Company will provide a loan facility to LTRIP of approximately $330 million to repay LTRIP debentures prior to closing.
Following consummation of the Merger, the Board of Directors simultaneously retired and canceled the shares of Tripadvisor common stock and Class B common stock held by LTRIP. As a result, the Company is no longer a controlled company and no longer subject to the Governance Agreement.
Effective April 29, 2025, Tripadvisor effected the redomestication of the Company to the State of Nevada by conversion, approved by stockholders in June 2023. A Certificate of Conversion was filed with the Delaware Secretary of State and Articles of Conversion and Articles of Incorporation with the Nevada Secretary of State.
This Tripadvisor company history reflects a journey of acquisitions, spin-offs, and strategic mergers that have shaped its independent status and growth in the travel sector. From its roots in user-generated content to a diversified portfolio, Tripadvisor company history underscores resilience and innovation.
Tripadvisor Brands: Detailed List and Revenue Breakup %
Tripadvisor Inc operates a family of brands that connect people to experiences worth sharing. These Tripadvisor brands are integral to the company’s vision of being the world’s most trusted source for travel and experiences. Below is a detailed list of Tripadvisor brands with revenue breakup % where applicable.
Tripadvisor Brand
The Tripadvisor brand, founded in 2000, is the flagship offering, providing an online global platform for travelers to discover, generate, and share authentic user-generated content in reviews and opinions. It covers destinations, points-of-interest, experiences, accommodations, restaurants, and cruises in over 40 countries and more than 20 languages. With more than 1 billion user-generated reviews and opinions on over 9 million places, it attracts hundreds of millions of visitors annually.
Revenue attributed to the Tripadvisor brand falls under the Brand Tripadvisor segment, which generated $949 million in 2024 (including intersegment), or 51.7% of consolidated revenue.
Viator Brand
Viator is a pure-play experiences OTA, enabling travelers to discover and book tours, activities, and attractions. The Viator brand offers nearly 400,000 experiences from over 65,000 operators, available through website, mobile web, and mobile app. It powers bookings for third-party partners and focuses on traveler and operator needs.
The Viator brand corresponds to the Viator segment, generating $840 million in 2024, or 45.8% of consolidated revenue.
TheFork Brand
TheFork is the leading online restaurant booking platform in Europe, with approximately 55,000 partner restaurants across 11 countries. The TheFork brand harnesses technology to connect diners and restaurateurs, offering real-time availability, instant booking, special offers, and payments. It has nearly 40 million app downloads and over 20 million reviews.
The TheFork brand corresponds to the TheFork segment, generating $181 million in 2024, or 9.9% of consolidated revenue.
Other Brands
Tripadvisor Inc’s portfolio includes additional travel media brands such as flipkey.com, holidaylettings.co.uk, and niumba.com, which complement the main brands by listing vacation rentals and providing related services.
Revenue from these brands is included in other revenue within the Brand Tripadvisor segment, contributing $45 million in 2024, or 2.5% of consolidated revenue.
Tripadvisor brands are leveraged to connect large global audiences with partners, offering rich content and marketplaces. Trusted brands like Tripadvisor, Viator, and TheFork drive scale and engagement, with revenue breakup % reflecting diversification across segments. Investments in these Tripadvisor brands enhance value for travelers and partners, positioning the company for growth.
Tripadvisor Geographical Presence: Detailed List and Revenue Breakup %
Tripadvisor Inc has a strong global footprint, operating in multiple countries and regions. The company’s geographical presence is measured by the physical location of subsidiaries generating revenue, aligning with long-lived assets. Below is a detailed list of Tripadvisor geographical presence with revenue breakup % for 2024.
United States
The United States is the primary market, with headquarters in Needham, Massachusetts, and various offices. Revenue is generated from all segments, with significant contributions from Brand Tripadvisor, Viator, and TheFork activities targeted at U.S. travelers.
Revenue from the United States in 2024 was $1,230 million, representing approximately 67% of consolidated revenue.
United Kingdom
The United Kingdom hosts key operations, particularly for Viator and TheFork. Revenue includes bookings from U.K.-based subsidiaries and travelers.
Revenue from the United Kingdom in 2024 was $334 million, representing approximately 18% of consolidated revenue.
All Other Countries
Tripadvisor Inc operates in over 40 countries, including Europe (e.g., France, Spain, Italy for TheFork), Asia Pacific (e.g., Singapore), and others. This includes nearly 200 countries for Viator experiences and 11 countries for TheFork restaurants.
Revenue from all other countries in 2024 was $271 million, representing approximately 15% of consolidated revenue.
Property and equipment net for the United States was $144 million, and for all other countries $56 million as of December 31, 2024.
Tripadvisor geographical presence spans North America, Europe, Asia Pacific, and beyond, with offices in nearly 25 locations aggregating 165,000 square feet. This global reach supports diverse revenue streams, with the U.S. dominating at 67%, followed by the U.K. at 18%, and other countries at 15%. The strategy leverages international markets to expand brands and services, driving growth in experiences and dining.
Tripadvisor Financial Statements: Consolidated P&L, Balance Sheet, and Cash Flow Statement
Tripadvisor Inc financial performance is reflected in its consolidated statements. Below are the fully tabulated consolidated P&L, balance sheet, and cash flow statement for the years ended December 31, 2024, 2023, and 2022.
Consolidated Profit and Loss Statement (P&L)
| Item | 2024 ($ in millions) | 2023 ($ in millions) | 2022 ($ in millions) |
|---|---|---|---|
| Revenue | 1,835 | 1,788 | 1,492 |
| Costs and expenses: | |||
| Cost of sales (exclusive of depreciation and amortization) | 131 | 119 | 78 |
| Marketing | 729 | 705 | 576 |
| Personnel (including stock-based compensation of $120, $96, and $88) | 595 | 570 | 503 |
| Technology | 91 | 80 | 63 |
| General and administrative | 91 | 79 | 74 |
| Depreciation and amortization | 85 | 87 | 97 |
| Restructuring and other related reorganization costs | 21 | 22 | — |
| Total costs and expenses | 1,743 | 1,662 | 1,391 |
| Operating income (loss) | 92 | 126 | 101 |
| Other income (expense): | |||
| Interest expense | (46) | (44) | (44) |
| Interest income | 48 | 47 | 15 |
| Other income (expense), net | (7) | (4) | (5) |
| Total other income (expense), net | (5) | (1) | (34) |
| Income (loss) before income taxes | 87 | 125 | 67 |
| (Provision) benefit for income taxes | (82) | (115) | (47) |
| Net income (loss) | 5 | 10 | 20 |
| Earnings (loss) per share attributable to common stockholders: | |||
| Basic | 0.04 | 0.07 | 0.14 |
| Diluted | 0.04 | 0.08 | 0.14 |
| Weighted average common shares outstanding: | |||
| Basic | 139 | 139 | 140 |
| Diluted | 145 | 145 | 146 |
Consolidated Balance Sheet
| ASSETS | December 31, 2024 ($ in millions) | December 31, 2023 ($ in millions) |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | 1,064 | 1,067 |
| Accounts receivable, net | 207 | 192 |
| Prepaid expenses and other current assets | 49 | 38 |
| Total current assets | 1,320 | 1,297 |
| Property and equipment, net | 200 | 191 |
| Operating lease right-of-use assets | 17 | 15 |
| Intangible assets, net | 36 | 43 |
| Goodwill | 814 | 829 |
| Non-marketable investments | 30 | 32 |
| Deferred income taxes, net | 101 | 86 |
| Other long-term assets, net | 43 | 44 |
| TOTAL ASSETS | 2,561 | 2,537 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | December 31, 2024 ($ in millions) | December 31, 2023 ($ in millions) |
|---|---|---|
| Current liabilities: | ||
| Accounts payable | 49 | 28 |
| Deferred merchant payables | 255 | 237 |
| Deferred revenue | 47 | 49 |
| Current portion of debt | 5 | — |
| Income taxes payable | 23 | 6 |
| Accrued expenses and other current liabilities | 249 | 252 |
| Total current liabilities | 628 | 572 |
| Long-term debt | 831 | 839 |
| Finance lease obligation, net of current portion | 43 | 51 |
| Operating lease liabilities, net of current portion | 11 | 6 |
| Deferred income taxes, net | 1 | 1 |
| Other long-term liabilities | 104 | 197 |
| Total Liabilities | 1,618 | 1,666 |
| Stockholders’ equity: | ||
| Preferred stock | — | — |
| Common stock | — | — |
| Class B common stock | — | — |
| Additional paid-in capital | 1,605 | 1,493 |
| Retained earnings | 276 | 271 |
| Accumulated other comprehensive income (loss) | (91) | (71) |
| Treasury stock | (847) | (822) |
| Total Stockholders’ Equity | 943 | 871 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 2,561 | 2,537 |
Consolidated Cash Flow Statement
| Operating activities: | 2024 ($ in millions) | 2023 ($ in millions) | 2022 ($ in millions) |
|---|---|---|---|
| Net income (loss) | 5 | 10 | 20 |
| Adjustments: | |||
| Depreciation and amortization | 85 | 87 | 97 |
| Stock-based compensation expense | 120 | 96 | 88 |
| Deferred income tax expense (benefit) | (14) | (25) | (19) |
| Provision for expected credit losses | 8 | 6 | 6 |
| Other, net | 9 | 9 | 7 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, prepaid expenses and other assets | (24) | 6 | (87) |
| Accounts payable, accrued expenses and other liabilities | 13 | 11 | 72 |
| Deferred merchant payables | 19 | 32 | 99 |
| Income tax receivables/payables, net | (75) | (1) | 107 |
| Deferred revenue | (2) | 4 | 10 |
| Net cash provided by (used in) operating activities | 144 | 235 | 400 |
| Investing activities: | 2024 ($ in millions) | 2023 ($ in millions) | 2022 ($ in millions) |
|---|---|---|---|
| Capital expenditures | (74) | (63) | (56) |
| Other investing activities, net | 1 | — | 4 |
| Net cash provided by (used in) investing activities | (73) | (63) | (52) |
| Financing activities: | 2024 ($ in millions) | 2023 ($ in millions) | 2022 ($ in millions) |
|---|---|---|---|
| Repurchase of common stock | (25) | (100) | — |
| Proceeds from the issuance of Term Loan B Facility, net | 493 | — | — |
| Principal payments on Term Loan B Facility | (1) | — | — |
| Payment of 2025 Senior Notes | (500) | — | — |
| Payment of financing costs related to Credit Facility | (1) | (3) | — |
| Payment of withholding taxes on net share settlements | (21) | (17) | (20) |
| Payments of finance lease obligation and other | (8) | (7) | (7) |
| Net cash provided by (used in) financing activities | (63) | (127) | (27) |
| Effect of exchange rate changes on cash | (11) | 1 | (23) |
|---|---|---|---|
| Net increase (decrease) in cash | (3) | 46 | 298 |
| Cash at beginning of period | 1,067 | 1,021 | 723 |
| Cash at end of period | 1,064 | 1,067 | 1,021 |
| Supplemental disclosure: | 2024 ($ in millions) | 2023 ($ in millions) | 2022 ($ in millions) |
|---|---|---|---|
| Cash paid (received) for income taxes, net | 170 | 140 | (40) |
| Cash paid for interest | 58 | 39 | 40 |
| Stock-based compensation capitalized | 13 | 10 | 10 |
These Tripadvisor financial statements highlight steady revenue growth to $1.835 billion in 2024, up 3% from 2023, marking an all-time high. Net income was $5 million, adjusted EBITDA $339 million, and free cash flow $70 million, impacted by $96 million IRS settlement. Operating income was $92 million, with costs at $1.743 billion. The balance sheet shows total assets of $2.561 billion, liabilities $1.618 billion, equity $943 million. Cash flows from operations were $144 million, investing -$73 million, financing -$63 million.
Tripadvisor financial performance reflects progress in strategic priorities, portfolio diversification, and financial results. Consolidated revenue grew 3% year over year, with more than half from growth marketplaces in experiences and dining. All segments positively contributed to profit mix for the first time. Investments in marketing efficiency, product enhancements, and supply growth drive flywheel value. Stabilizing traffic and growing monthly active members reverse prior declines, building foundation for growth.
Tripadvisor Subsidiaries, Wholly-Owned Subsidiaries, and Associates: Full List with Details and Revenue Breakup %
Tripadvisor Inc has numerous subsidiaries, wholly-owned subsidiaries, and associates supporting its global operations. The full list from Exhibit 21.1 includes wholly-owned entities across regions. Revenue is not broken out by subsidiary but consolidated by segment.
Wholly-Owned Subsidiaries
- Tripadvisor LLC (U.S.): Core operations for Tripadvisor brand.
- Viator Ltd (U.K.): Operates Viator platform.
- TheFork SAS (France): Operates TheFork platform.
- FlipKey, Inc. (U.S.): Vacation rentals brand.
- Holiday Lettings Ltd (U.K.): Vacation rentals brand.
- Niumba.com (Spain): Vacation rentals brand.
- And over 50 other wholly-owned subsidiaries in countries like Singapore, Barcelona, Paris, London, New York, supporting sales, operations, and international activities.
All are 100% owned, contributing to consolidated revenue. No specific revenue breakup % by subsidiary, as reported by segment: Brand Tripadvisor 44.4%, Viator 45.8%, TheFork 9.9%.
Associates
- Chelsea Investment Holding Company PTE Ltd (Singapore): 40% equity investment, equity method. Carrying value $28 million as of December 31, 2024. Loss of $2 million in 2024. No revenue breakup, but related party transactions not material.
- Other minority investment: 2% equity in privately-held company, cost method, $2 million carrying value.
Tripadvisor subsidiaries are wholly-owned, enabling control over brands and operations. Associates like Chelsea provide China market access via license. Revenue flows through segments, with no individual subsidiary revenue >10%.
Tripadvisor Physical Properties: Offices, Plants, Factories, and List
Tripadvisor Inc does not own any real estate, focusing on leased facilities for operations. Physical properties include offices across regions.
- Corporate Headquarters: Lease approximately 280,000 square feet in Needham, Massachusetts, expiration December 2030, option to extend two 5-year terms.
- Other Offices: Aggregate 165,000 square feet in nearly 25 locations in North America (e.g., New York), Europe (e.g., London, Paris, Barcelona), Asia Pacific (e.g., Singapore). Leases expire up to March 2034.
No plants or factories, as Tripadvisor Inc is a technology and platform company. Facilities are adequate for current operations, with ability to obtain additional space on reasonable terms if needed.
Tripadvisor physical properties support global teams in product development, marketing, sales, and operations, ensuring efficient delivery of services.
Tripadvisor Founders Details
The report does not provide specific details on founders of Tripadvisor Inc.
Tripadvisor Board of Directors: List Every Director with Details
The Tripadvisor board of directors consists of experienced leaders guiding strategy and governance. As of the 2025 proxy, eight nominees for election:
- Gregory B. Maffei (Age 64, Director since 2013): Chairman. Served as President and CEO of Liberty Media Corporation from 2007 to 2024. Extensive experience in media, telecom, financial. Committees: Compensation, Executive.
- Matt Goldberg (Age 54, Director since 2022): President and CEO of Tripadvisor Inc since 2022. Global travel, media expertise. Committee: Executive.
- Betsy L. Morgan (Age 56, Director since 2019): Co-founder Magnet Companies, associate professor Columbia. Digital media leadership. Committees: Compensation (Chair), Section 16 (Chair), Nominating and Corporate Governance.
- M. Greg O’Hara (Age 59, Director since 2020): Founder Certares Management. Travel investment expertise. No committees.
- Jeremy G. Philips (Age 52, Director since 2011): General Partner Spark Capital. Tech, media strategy. Committees: Nominating and Corporate Governance (Chair), Audit, Executive.
- Albert E. Rosenthaler (Age 65, Director since 2016): Senior Advisor Liberty Media. Financial, tax expertise. No committees.
- Trynka Shineman Blake (Age 51, Director since 2019): Board member SEMRush, Caputara, Steer. Digital transformations. Committee: Audit.
- Robert S. Wiesenthal (Age 58, Director since 2011): CEO Blade Air Mobility. Media, entertainment finance. Committee: Audit (Chair).
The board has 63% independent, 25% female, average age 57.4, average tenure 7.0 years. Skills include CEO/CFO experience, international expertise, governance.
Jay C. Hoag and Jane Jie Sun ceased service after 2025 meeting.
Tripadvisor board of directors provides diverse expertise, overseeing risk, strategy, and performance.
Tripadvisor Shareholding Details
As of April 29, 2025, Tripadvisor shareholding includes:
- 5% Beneficial Owners: BlackRock Inc 13,382,953 shares (11.3%), Vanguard Group 12,876,614 shares (10.9%).
- Directors and NEOs: Gregory B. Maffei 135,907 shares, Trynka Shineman Blake 62,871, Jay C. Hoag 68,674, Betsy Morgan 62,871, Greg M. O’Hara 1,772,062 (1.5%), Jeremy G. Philips 73,483, Jane Jie Sun 55,764, Albert Rosenthaler 79,061, Robert S. Wiesenthal 73,483, Matt Goldberg 487,441, Michael Noonan 119,892, Seth J. Kalvert 493,865, Kristen Dalton 126,123, Almir Ambeskovic 80,156.
- All executive officers and directors (14 persons): 3,691,653 shares (3.1%).
Outstanding common stock: 118,090,851 shares. All Class B shares retired post-merger.
Tripadvisor shareholding reflects institutional confidence, with major holders like BlackRock and Vanguard.
Tripadvisor Parent Company Details
Tripadvisor Inc was controlled by Liberty TripAdvisor Holdings, Inc. (LTRIP) until April 29, 2025, when the merger closed. LTRIP beneficially owned 14.0 million common shares (11%) and all 12.8 million Class B shares (56% voting power). Post-merger, shares were retired, ending controlled status. Now independent Nevada corporation.
Tripadvisor Investment Details: List Every Passive Investment with %
Tripadvisor Inc holds passive investments:
- Chelsea Investment Holding Company PTE Ltd: 40% equity, equity method. Carrying value $28 million (as of Dec 31, 2024), loss $2 million in 2024. No % of total assets specified, but part of $30M non-marketable.
- Other minority equity in privately-held company: Cost method, $2 million carrying value.
No other passive investments detailed. Investments position Tripadvisor Inc in China market via license.
Tripadvisor Future Investment Plan
Tripadvisor Inc plans to invest in leadership position with experiences at center, leveraging AI to reshape traveler journey. Lean into group capabilities: trusted brands, broad reach, authentic content, high-quality data, deep supply. Leverage GenAI to enhance products, drive productivity, create partnership value.
In Brand Tripadvisor, invest in world-class guidance/planning products, deeper engagement via data/technology for relevant content.
At Viator, invest in marketing efficiency, product enhancements, supply growth for flywheel value.
At TheFork, invest in B2C diner base, B2B partners for growth/profitability.
