Tripadvisor Shutters Vacation Rental Direct Bookings in Favor of Third-Party Providers

Key Points

• Tripadvisor will cancel all vacation rental reservations with check-in dates on or after November 1, offering full refunds.
• The company is transitioning to a new business model that leverages third-party providers for vacation rentals.
• Tripadvisor disclosed $10 million in liabilities related to its vacation rentals business, which is not a core part of its revenue.

Summary

Tripadvisor announced that it will cancel all vacation rental reservations with check-in dates on or after November 1, offering full refunds to guests. The company is shifting to a new business model that utilizes third-party providers for vacation rentals, aligning it with its hotel offerings. This move comes amidst $10 million in liabilities related to its vacation rentals business, which only accounts for a small portion of Tripadvisor's overall revenue.