Tripadvisor CEO Defends Subscription Service Changes That Rattled Investors
Skift Take
Tripadvisor CEO Stephen Kaufer acknowledged that hotels objected to the discounted rates being advertised on the Plus program, but said the change to a points-based wallet will be a hit with consumers. Wall Street wasn't too sure, wiping out $374 million in the day after the news broke.
Tripadvisor CEO Stephen Kaufer defended the company’s overhaul of its Tripadvisor Plus subscription product by arguing that the change actually benefits both consumers and hotel chains.
“Consumers are likely to be getting the same savings, just at a slight different time,” Kaufer said Thursday at the Skift Global Forum in New York. "It's literally the same to hoteliers," he said.
Skift reported earlier this week that the $99 subscription model was shifting to a points-based reward program, and Wall Street punished the company's share price, which fell by 8 percent and wiped out
