Tripadvisor Execs Suggest Viator and Hotel Auction Will Be Key to New Strategy

25.08.2023 - 14:44 / skift.com / Steve Kaufer / Dennis Schaal / Matt Goldberg

Further investments in Tripadvisor’s Viator tours and activities brand, as well as making Tripadvisor’s core hotel price-comparison feature more relevant to travelers will likely be key elements of the company’s turnaround strategy, executives hinted, although they plan on first laying out their complete vision to investors in 2023.

That was one of the takeaways of Tripadvisor’s third quarter earnings call Tuesday.

Tripadvisor invested in Viator brand advertising in social media and podcasts during the third quarter and is continuing to do so in the fourth quarter, as Viator was clearly the top performer in Tripadvisor’s portfolio of brands.

Outgoing chief financial officer Ernst Teunissen told financial analysts that Viator “has been on a spectacular path this year” with improved conversion and retention rates, as well as travelers booking more experiences before and during trips. Given Viator’s large supply of attractions, and the fact that 80 percent of the sector is still offline, there is tremendous upside, he said.

New Tripadvisor Chief Financial Officer Mike Noonan, who’s been on the job for a week or so, likewise said the company thinks it has an attractive opportunity to take advantage of a growing travel and experiences market. Teunnissen will stay on in a transitional role through the end of 2022.

“In light of this opportunity, we will assess areas of investment, opportunities to reallocate capital as well as look for ways to continue to drive operating efficiencies,” Noonan said. “We will continue to do so with a disciplined ROI-driven approach. I’m looking forward to catching up with everyone over the coming weeks.”

CEO Matt Goldberg, who started at his post in July, replacing longtime boss Steve Kaufer, was likewise bullish about the company’s hotel auction, which enables online travel agencies and hotels to bid for position in Tripadvisor’s price comparison search results.

This Tripadvisor metasearch service, he said, has bounced back strongly, and is providing high value to hotels and online travel agencies because consumers using it generally have a high intent to travel. Goldberg said there are opportunities to make the service more relevant to travelers, and improving its mobile features and grabbing certain geographic opportunities may be on the agenda.

Asked about competition from the online travel agencies and Google, Goldberg said:

“You have to think about what you’re going to do that’s going to be different than Google. And I think we have a lot that we can do that will be different from Google. If we focus on our content and our trust and the security that travelers have with us when they think about the decision that they’re going to make, the way that we’re able to guide