The Tripadvisor Earnings Call That Became a Sales Pitch for Viator
Photo Credit: A view of the lobby in the global headquarters of TripAdvisor in Needham, Massachusetts. Tripadvisor may spin out Viator through an IPO. TripAdvisor
Skift Take
Whether it is hotel-like commission levels on the online travel agencies, new product features, or market share gains, Tripadvisor was unabashedly selling the virtues of a Viator IPO — or deal. It's not a winner-take-all market, but rivals have narrowed any competitive gap.
Tripadvisor's fourth quarter earnings call with financial analysts amounted to a sales pitch for its potential Viator initial public offering — or other options under discussion with third parties that Tripadvisor said are taking place in "parallel."
No company files a registration statement with the U.S. Securities and Exchange Commission to spin out a brand, as Tripadvisor has done for Viator, as a bargaining chip, but the prospect that Tripadvisor has a viable alternative in taking Viator public and strengthening it as a competitor could give it leverage in talks with potential acquirers or partners.
During the discussion about Tripadvisor's fourth quarter and full-year 2021 results, Tripadvisor Chief Financial Officer Ernst Teunissen said Viator has traditionally been strong in selling experiences in English-speaking countries, particularity in cities as part of international travel.
However, in 2021, although Tripadvisor saw a European rebound i
