Greg Maffei travel tips

Liberty Tripadvisor Holdings is looking to do a deal, one that could remove what Tripadvisor chairman Greg Maffei characterized as “probably a cloud on Tripadvisor’s stock.”

Good morning from Skift. It’s Friday, August 9, 2024, and now here’s what you need to know about the business of travel today.

Tripadvisor offered a muted outlook across its major businesses, and attributed the softness to changes in Google’s travel search results pages.

Ever since Liberty Tripadvisor disclosed in early February that it was exploring a potential transaction in which itself and Tripadvisor would be acquired in an all-cash deal, speculation was rife that a private equity firm was behind the possible move.

Tripadvisor announced Monday that it was forming a special committee made up of independent directors of its board to review a potential acquisition by Liberty TripAdvisor Holdings, part of the Liberty Media empire run by Greg Maffei, which has long held a controlling stake in the travel company currently valued at $3.1 billion.

Tripadvisor said Monday it was reviewing a potential sale of the company to Liberty Tripadvisor, which has long held a controlling stake in the travel reviews site.