TripAdvisor CEO: Summer Isn’t Going Great For Us
TripAdvisor did warn previously that it will go through major pains this year as it transitions to hotel metasearch, but missing traffic goals is troubling.
Excerpt from Investors.com
TripAdvisor shares fell more than 9% on the stock market today after CEO Steve Kaufer told…investment conference that summer travel trends have been weaker than expected and that visitor traffic has been missing the company’s target for what is typically the travel industry’s busiest season…”I’m not seeing a lot of positive stuff,” Kaufer said.
Kaufer also said the summer “so far has been bumpier than I had been forecasting. Our traffic is holding, but not as strong as had been expected, and pricing has been a bit down for us.”