Tripadvisor To Sell TheFork for $700 Million to Fuel Its Bet on Experiences

Key Points

• Tripadvisor is selling its European dining reservation platform TheFork to American Express for $700 million in cash.
• The sale follows pressure from activist investor Starboard Value and enables Tripadvisor to focus on its experiences segment, especially Viator.
• Tripadvisor sees significant growth potential in the travel experiences market, which is valued at over $1 trillion globally.

Summary

Tripadvisor has agreed to sell its European dining reservation platform TheFork to American Express for $700 million, a move influenced by activist investor Starboard Value's push for asset sales. The transaction allows Tripadvisor to intensify its focus on the experiences segment, particularly through Viator, as it aims to capitalize on the booming travel experiences market, which is estimated to be worth over $1 trillion. The deal is pending regulatory and labor approval, with completion expected by year-end.