Tripadvisor - TRIP STOCK NEWS

Tripadvisor announced the winners of its 2021 Travelers' Choice 'Best of the Best' Things to Do Awards, recognizing top activities globally and in major cities. The revamped awards now feature 12 subcategories, including Outdoor and Water Activities to reflect pandemic trends. The global top experience is the Jet Ski Tour of Dubai, while the U.S. top experience is the Clear Kayak Tour of Shell Key Preserve. With nearly 400,000 bookable activities, Tripadvisor aims to inspire travelers by showcasing experiences loved by previous guests.

Tripadvisor has launched Tripadvisor Plus, a new annual subscription service aimed at enhancing travelers' experiences by providing significant savings. For $99 per year, members can access member-only prices on hundreds of thousands of hotels, saving an average of $350 per stay, discounts on nearly 400,000 bookable experiences, and exclusive benefits from Hertz rentals. As tourism rebounds, the service aims to meet the demand for better travel value, with 74% of vaccinated U.S. travelers planning summer trips. This initiative represents a strategic move to capitalize on the recovering travel market.

Tripadvisor's latest report highlights how global vaccine rollouts are increasing demand for summer vacations. Insights from consumer surveys and Tripadvisor's first-party data reveal that vaccinated travelers are booking vacations more frequently and planning to spend more time and money on trips. In the U.S. and U.K., high vaccination rates are driving strong tourism recovery, while regions with slower vaccine rollouts, particularly in Asia-Pacific, face challenges. Notably, 51% of U.S. respondents plan on summer vacations, with more travelers feeling confident about dining and urban tourism.

On June 1, 2021, Trip.com Group and Tripadvisor announced an expansion of their strategic partnership, initially established in November 2019. This new collaboration includes a commercial arrangement to support Tripadvisor Plus, offering preferential pricing on over 10,000 properties for subscribers. Trip.com has received approval to sell a portion of its 6.95 million shares in Tripadvisor, relinquishing its right to nominate a director on Tripadvisor's board. Despite this, CEO Jane Sun will maintain her board position, indicating a commitment to continued collaboration.

Tripadvisor announced its 2021 Travelers' Choice Best of the Best Awards for Hotels, highlighting top-rated accommodations based on user reviews. With 45% of Americans planning international travel and 64% intending to stay in hotels this year, the awards showcase winners from six continents, including new categories like Hottest New Hotels and Top Rooftop Hotels. The top U.S. hotel is Mint House at 70 Pine, while Hotel Colline de France in Brazil claims the global title. Tripadvisor's awards are based on traveler reviews and a qualitative editorial process.

Tripadvisor and Accenture's joint study highlights a resurgence in travel confidence among U.S. Millennials, with a particular focus on luxury vacations in 2021. The report indicates that 61% of respondents who did not travel in 2020 are comfortable planning trips this year. High-income Millennials are leading the charge, with 34% already booking trips. Beach destinations remain popular, yet city breaks are gaining traction. Notably, 32% of affluent Millennials aim to increase their travel spending, with many planning luxury trips exceeding $5,000.

Tripadvisor, Inc. (NASDAQ: TRIP) released its Q1 2021 earnings report on May 6, 2021, detailing the company's performance during the period. The earnings release and management remarks are accessible on the company's investor relations site. A conference call to discuss the results is scheduled for May 7, 2021. The company operates as the world's largest travel guidance platform, assisting millions in their travel planning with over 887 million reviews across nearly 8 million businesses worldwide.

Tripadvisor (NASDAQ: TRIP) will audiocast its first quarter 2021 conference call on May 7, 2021, at 8:30 a.m. ET to discuss financial results. A press release detailing these results will be issued after market close on May 6, 2021. Interested parties can participate in the live call via phone or access it through the provided webcast link. Tripadvisor is a leading travel guidance platform, helping travelers with over 884 million reviews across nearly 8 million businesses.

Tripadvisor's 2021 Summer Travel Index indicates a robust rebound in travel activity, with 67% of Americans planning trips this summer, marking a 17% increase from spring. Millennials lead the excitement with 72% planning vacations. A significant rise in searches includes hotel searches up 65%, experiences up 78%, and restaurant searches up 53%. Domestic travel remains popular, with 74% traveling within the U.S. Americans plan to spend 9% more than the global average on trips. Popular destinations include Cancun, Orlando, and Myrtle Beach.