Did you just remember you need to book a hotel for the Paris Olympics? If so, now might be a good time to settle your lodging.
Tripadvisor's Potential Sale: Apollo Still a Suitor
24.04.2024 - 21:59 / skift.com / Dennis Schaal / Liberty Tripadvisor
More than two months after Tripadvisor formed an independent committee to mull a potential sale, there has been silence from both controlling shareholder Liberty Tripadvisor Holdings and Tripadvisor itself.
That may change soon when both companies report quarterly results on May 8.
One thing is clear about the sales process so far: Private equity firm Apollo Global Management is still a suitor, as reported in early March, and there has been ample interest from other parties, according to a source.
There are several scenarios in play, the source said. These include acquiring Tripadvisor and spinning off its Viator tours and activities brand, or keeping the company intact, among other options.
Tripadvisor formed a committee of independent directors to evaluate any offers.
One factor influencing the ultimate decision: Liberty Tripadvisor faces a late March 2025 deadline to redeem $330 million of Series A preferred stock for cash.
That obligation grew out of a $325 million preferred stock investment that private equity firm Certares made in Liberty Tripadvisor in March 2020 near the onset of the Covid-19 pandemic.
“One question is how LibertyTripadvisor will pay off that preferred stock before or in March 2025,” said Brian Fitzgerald, managing director at Wells Fargo Securities. “The company could issue Liberty TripAdvisor stock or possibly reach a merger deal with Tripadvisor that could result in the retirement or assumption of the preferred on tax-efficient terms.”
Investors we spoke with disagreed on how much this will impact negotiations.
One investor argued that Liberty Tripadvisor, which got delisted from Nasdaq in October, is in a weak bargaining position because of the March 2025 deadline, which puts pressure on it to sell.
Another source said Liberty Tripadvisor has ample resources to redeem the preferred stock in the next year, and has plenty of options to refinance it.
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
thepointsguy.com
01.05.2024 / 14:03
Big changes to American Airlines program delayed, but still coming: AA wants you booking direct
American Airlines has delayed the rollout of a controversial new system for awarding AAdvantage miles and Loyalty Points.
travelandleisure.com
30.04.2024 / 19:05
Southwest Still on the Hook for 2022 Holiday Meltdown — and Will Now Provide New Vouchers for Delayed, Canceled Flights
Southwest Airlines' settlement terms with the Department of Transportation (DOT) are kicking in — leading to future customers receiving compensation if they experience a significant flight delay. As part of the settlement sparked from the airline’s 2022 holiday meltdown, Southwest has agreed to award $75 or more in transferrable vouchers to travelers who reach their destination at least three hours late due to an airline-caused disruption or cancellation, according to the DOT.
travelandleisure.com
30.04.2024 / 15:25
Amtrak Is Bringing Back Its Popular Berkshires Train for the Summer — and Tickets Are on Sale Now
Amtrak is bringing back — and expanding — its seasonal service between New York City and the Berkshires this summer, and has started selling tickets for the picturesque ride.
thepointsguy.com
29.04.2024 / 15:51
You can still book these Mother’s Day hotel packages for a relaxing getaway
Arguably, no one deserves to be spoiled more than Mom, and what's more special than a weekend away with daughters, sons or multiple generations, or even a solo trip? This Mother's Day, dozens of fabulous hotels and resorts in the U.S., Mexico and the Caribbean are offering experiences and packages that go far beyond the typical Mother's Day brunch (although many offer those, too!), from wine tastings to sunset yoga sessions. You might even be able to earn and burn some points while treating your mom, too.
lonelyplanet.com
29.04.2024 / 09:37
5 road trips through Oregon’s amazing landscapes
What’s the best way to experience Oregon’s gorgeous scenery? From the open road.
lonelyplanet.com
28.04.2024 / 14:37
10 superb wineries in Oregon’s Willamette Valley
The Willamette Valley in Oregon is famous for two things: scenery and its wine. And rightfully so.
travelandleisure.com
27.04.2024 / 13:57
Frontier Just Put 1 Million Seats on Sale — With Flights Starting at $19
A summer or fall getaway just got cheaper. Frontier Airlines' “1 Million Seats" fare sale is underway with deals starting at $19. The promotion ends on Monday April 29 and offers deals to many popular destinations in Frontier’s network including Atlanta, Austin, New York, Orlando, and more. While the fare sale may provide deep discounts, there are several restrictions on when passengers can actually use the tickets. The sale applies to flights on Tuesdays, Wednesdays, and Saturdays from May 10 through June 30 and then again from August 15 through October 31. International destinations, Florida destinations, and Las Vegas have additional booking restrictions.
euronews.com
24.04.2024 / 14:29
French air traffic controllers call off strike but passengers still face cancellations
SNCTA, the largest union representing air traffic controllers in France, has dropped plans for a 24-hour strike on Thursday after reaching a deal on pay and working conditions.
travelpulse.com
23.04.2024 / 16:19
I Visited Israel Days Before Iran’s Attack – What I Experienced Shows Why The Destination Will Thrive With Tourists Once Again
Much to the astonishment of some of my friends and family, I traveled to Israel on a seven-night press trip, returning home on April 8, less than a week before Iran launched its attack on the country.
travelpulse.com
23.04.2024 / 16:18
Playa Hotels & Resorts Offers Another Big Sale in Jamaica
Some people like to travel with family. Some like to travel with friends.
forbes.com
23.04.2024 / 15:19
The 10 Best Hotels In The World According To Tripadvisor Travelers Choice Awards
Travelers from around the world have decided their favorite hotels for 2024 and Tripadvisor has unveiled the final results of winners for its annual Travelers’ Choice Best of the Best Hotels Awards. The awards celebrate this year’s highest rated hotels based on Tripadvisor reviews.