Being an aggregator of user reviews and opinions related to travel, TripAdvisor Inc.’s (TRIP) database has hit a new high of 150 million travel reviews and related opinions.
TripAdvisor is the largest online travel research company in the world. The travel information company will now offer its consumers 150 million travel reviews and opinions on its website from over 2 billion members. Over the last 12 months, 50 million new reviews have been posted on the company’s website, representing an increase of 50% year over year. The company also makes its travel reviews and other content available on the websites of 1,000 different travel brands.
Nowadays, smartphones are increasingly being used along with laptops and tablets to share various experiences through social networking sites. In order to cash in on this opportunity, TripAdvisor is constantly updating its mobile products.
In 2013, TripAdvisor ventured into several markets and launched many products such as the meta-display platform which received good response from advertisers. The platform allows users to compare hotel pricing and availability data from top advertisers on TripAdvisor's website.
Last year, the company announced the expansion of its suite of review collection services with Review Express, a powerful solution that TripAdvisor offers free. The service allows registered businesses to send customizable, bulk emails to guests requesting an account of their experience.
These initiatives have helped TripAdvisor to grow its user base and increase page views per visitor since users now spend more time on its website. The company is making all efforts to help consumers make their travel decisions easy and fruitful based on the experiences of other travelers.
According to a recent report by PhoCusWright, more than half of the global travel enthusiasts prefer to plan their trip based on others’ experiences. Therefore, businesses are increasingly embracing social reviews to ensure great customer service and positive brand reputation online. TripAdvisor capitalized on this trend and achieved great heights since its spin-off from Expedia (EXPE) in 2011.
In the last reported quarter, TripAdvisor reported a positive earnings surprise of 7.1%. Also, over the past year, the company’s shares have surged 131%. The company has also outdone its peers HomeAway, Inc. (AWAY) and Orbitz Worldwide, Inc. (OWW), which jumped 62.5% and 128.2%, respectively, during the same period.
Currently, TripAdvisor has a Zacks Rank #3 (Hold).