2025-05-29-Bernstein-猫途鹰（TRIP）_Tripadvisor_伯恩斯坦SDC会议要点_11页_193kb

报告摘要

Tripadvisor reiterates its strategy to grow experiences and dining businesses, shifting the meta business toward sustainability. AI opportunities through proprietary data and partnerships are emphasized, with a renewed focus following the Liberty Tripadvisor transaction.

Travel remains durable; summer intent is strong despite price and cancellation concerns. Experiences show a bifurcation between premium and lower-end segments. Deglobalization allows serving customers globally.

Vision: Become the most trusted travel platform. Tripadvisor positions itself as a guidance tool, not an OTA, to avoid funneling customers. Priorities include hotel stability, experience acceleration, direct traffic growth, and a free membership program rewarding repeat bookings via earn and burn.
Viator: Opportunity to scale as an experiences OTA, focusing on expanding supply and marketing. Large supply network is a key differentiator.
B2B: Valuable third-party demand with low marketing costs for partners.
TheFork: Strong growth with profitability, European focus, and opportunities for international expansion.

Competitive space is not winner-takes-all, supporting multiple players. Viator's single focus is an advantage. Partnerships with Airbnb (awareness), OpenAI (AI tools), Perplexity (AI search), and Microsoft (data insights) enhance capabilities. AI is used to leverage user-generated content and improve recommendations.