TripAdvisor, Inc. reported consolidated revenue of $1.891 billion for the fiscal year ended December 31, 2025, an increase of 3% compared to $1.835 billion in 2024. The company's net income for 2025 was $39.8 million, a significant increase from the $4.9 million reported in the previous year. Adjusted EBITDA, a non-GAAP measure used by the company to assess operating performance, was $318.7 million, a decrease of 6% compared to $338.5 million in 2024. The company attributes the revenue increase to growth in its Experiences and TheFork segments, while the decrease in Adjusted EBITDA was primarily due to a decline in the Hotels and Other segment.
A key strategic development for TripAdvisor in 2025 was the completion of its merger with Liberty TripAdvisor Holdings, Inc. (LTRIP) on April 29, 2025. As a result of the merger, LTRIP became an indirect, wholly-owned subsidiary of TripAdvisor, and the company retired and cancelled the shares of TripAdvisor common stock and Class B common stock previously held by LTRIP. This resulted in a net reduction in shares outstanding and a simplified capital structure with a single class of common stock. The company also initiated a series of cost savings actions in November 2025, including a global workforce reduction, to realign its operating model and support its focus on experiences and AI.
Operationally, the Experiences segment saw a 16% increase in the number of experience bookings, reaching approximately 22.9 million in 2025. Gross Booking Value (GBV) for the Experiences segment also increased by 13% to $4.7 billion. TheFork segment experienced revenue growth of 22%, driven by booking volume growth and increased adoption of its premium online reservation booking software. However, the Hotels and Other segment experienced an 8% decrease in revenue, primarily due to declines in hotel metasearch and B2B revenue.
Looking ahead, TripAdvisor is focused on scaling its Experiences marketplace globally, leveraging complementary brands across the traveler discovery and booking funnel, and strengthening direct traveler relationships. The company also aims to optimize its Hotels and Other segment for profitability while growing user-generated content and proprietary data assets for AI-driven innovation. Additionally, TripAdvisor plans to continue scaling TheFork as a leading online dining marketplace in Europe. The company expects to realize at least $85 million in annualized gross cost savings from its recent restructuring actions, with the majority of savings expected in 2026 and fully realized by 2027.
About TripAdvisor, Inc.
Tripadvisor, Inc. operates a family of brands connecting travelers to experiences, accommodations, dining, and travel guidance. Its core platforms—Tripadvisor, Viator, and TheFork—offer user-generated reviews, booking services, and marketplaces for tours, activities, and restaurants worldwide. The company leverages trusted content, large audiences, and technology to facilitate bookings, advertising, and partner relationships in the global travel and experiences industry.
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