TripAdvisor announced financial results for the first quarter ended March 31, 2018.
“We had a strong start to 2018; our Hotel results were ahead of our expectations, and we delivered accelerated Non-Hotel revenue growth,” said Chief Executive Officer Steve Kaufer. “We are expanding our global platform for the benefit of users and partners and we are executing along our key product, supply and marketing initiatives that position our business for long-term profitable growth.”
First Quarter 2018 Operational and Financial Highlights
* User reviews and opinions grew 26% year-over-year and reached 630 million at March 31, 2018, covering approximately 7.5 million places to stay, places to eat and things to do including 1.2 million hotels, inns, B&Bs and specialty lodging, 800,000 rental properties, 4.6 million restaurants and 940,000 travel activities and experiences worldwide.
* Average monthly unique visitors on TripAdvisor-branded websites and apps grew 12% year-over year to approximately 433 million and average monthly unique hotel shoppers remained flat year-over-year at approximately 149 million.
* TripAdvisor rebranded its Attractions offering to “Experiences” and grew bookable products by more than 80% year-over-year in Q1 to 104,000.
* Total Revenue was USD 378 million, an increase of USD 6 million, or 2% year-over-year. Total Adjusted EBITDA was USD 80 million, an increase of USD 7 million, or 10% year-over-year.
* Hotel Revenue was USD 299 million, a decrease of USD 15 million, or 5% year-over-year. Hotel Adjusted EBITDA was USD 88 million, or flat compared to Q1 2017, and Hotel Adjusted EBITDA margin improved to 29%.
* Non-Hotel Revenue was USD 79 million, an increase of USD 21 million, or 36% year-over-year driven by growth in Experiences and Restaurants. Non-Hotel Adjusted EBITDA was negative USD 8 million, an improvement of USD 7 million, or 47% year-over-year.
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