Tripadvisor Hotel Recovery Lags Rivals
Photo Credit: Tripadvisor
Skift Take
Tripadvisor CEO Steve Kaufer said Tripadvisor is "uniquely positioned as the world opens up again." Actually it isn't, as the company's first quarter performance shows. Yes, Tripadvisor has world-class traffic, and growing experiences and dining businesses, but it totally missed out on the short-term rental opportunity.
While the recovery of Tripadvisor's core hotel business lagged the accommodations recovery at rivals Airbnb, Booking Holdings and Expedia Group, Tripadvisor's experiences and dining segment was a bright spot.
Tripadvisor's hotels, media and platform segment grew 82 percent to $160 million in the first quarter compared to the same period in 2021, but that $160 million was just 63 percent of its 2019 mark.
In comparison to Tripadvisor competitors, Expedia Group saw its lodging bookings, including hotels and its Vrbo vacation rental brand, reach 89 percent of 2019 levels in the first quarter of 2022.
Similarly, Booking Holdings' accommodations business, including what it ca
