31.61 0.00 (0.00%)
After hours: 7:59PM EST
|Bid||31.54 x 3200|
|Ask||31.68 x 1100|
|Day's Range||31.27 - 32.10|
|52 Week Range||29.27 - 65.41|
|Beta (3Y Monthly)||1.38|
|PE Ratio (TTM)||37.59|
|Earnings Date||Feb 10, 2020 - Feb 14, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||37.27|
(Bloomberg) -- A pizza restaurant in England was flooded by satirical reviews on TripAdvisor Inc. in the wake of Prince Andrew’s rare television interview on Saturday night.The popularity of the PizzaExpress Ltd. eatery in a commuter town southwest of London boomed immediately after Queen Elizabeth II’s second son denied sleeping with Virginia Roberts, one of the alleged teenage sex slaves of pedophile financier Jeffery Epstein.In an extraordinary interview with the BBC, the prince said he remembered taking his daughter Princess Beatrice to the pizza restaurant in Surrey on the night he was alleged to have had sex with Roberts in London. When pressed why he recalled this date so clearly, he replied, “because going to PizzaExpress in Woking is an unusual thing for me to do, a very unusual thing for me to do.”Reviewers relished the chance to spice up their faux experiences at the pizza chain. “Came here nearly 20 years ago, I’ve dined with presidents and kings since, but nothing sticks in my mind like that night,” wrote one TripAdvisor user. “A selectively memorable evening,” another fake reviewer penned on the restaurant’s page.“Never I had such a non sweaty experience and unforgettable memory of a dining experience,” a third user wrote, referring to Roberts’s comments of Prince Andrew as being “sweaty” in a nightclub before their alleged intimacy. The prince had told the BBC interviewer that he knew the liaison didn’t happen because at the time he had a medical condition that prevented perspiration.READ MORE: Prince Andrew Bombs in BBC Interview, Raising More Questions (1)Britain’s notorious tabloid newspapers took a dig at the sweaty defense. The Sun on Sunday’s headline was “No Sweat.. I Was at Pizza Express,” while the rival Sunday Mirror’s riposte was “No Sweat.. and No Regret.”TripAdvisor wiped more than 50 reviews from the eatery’s page around noon on Sunday and temporarily suspended new submissions for the Woking branch.“The recent media attention caused a spike of spoof review submissions that did not meet our guidelines -- which must describe a first-hand experience, and have taken the decision to temporarily suspend hosting new reviews on the restaurant’s TripAdvisor listing page,” a spokeswoman for the travel website said in an email statement.However some enterprising satirists subsequently got around the ban by posting a phony report about a restaurant near the royal residence of Windsor Castle that offered “Pizza fit for a Prince!”The debt-laden pizza chain, which China’s Hony Capital acquired in a 900 million-pound ($1.2 billion) leveraged buyout five years ago, knew within minutes of Saturday’s interview -- widely seen as a PR disaster -- that a barrage of publicity was coming its way. The company’s social media team wrote on Twitter that “9:00 pm - Switch off computer 10:00 pm - 120 messages on work WhatsApp group telling you to check Twitter now.”Prince Andrew’s interview has the potential to become the royal family’s biggest PR disaster since its bungled handling of events following the death of Princess Diana in 1997. RoyalCentral.co.uk Editor-in-Chief Charlie Proctor described it as an order of magnitude worse than a “train wreck,” instead considering it as “nuclear explosion level bad.”To contact the reporter on this story: Antonio Vanuzzo in London at email@example.comTo contact the editors responsible for this story: Andrew Davis at firstname.lastname@example.org, Pete Norman, Sara MarleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEEDHAM, Mass. , Nov. 15, 2019 /PRNewswire/ -- TripAdvisor, Inc. (NASDAQ: TRIP), the world's largest travel site*, today announced that its President and Chief Executive Officer Steve Kaufer will participate ...
Airbnb is moving ahead with plans to verify all of its home listings, adding its experiences offering to that pledge, the company said Friday. Still, it is grappling with how to carry this out on such a massive scale. What's more, in a recent Recode Decode podcast, CEO Brian Chesky said Airbnb plans to let […]
US online travel sites Expedia, TripAdvisor and Booking Holdings make their living peddling dream vacations in far-flung locales. Dismal results last week sent stocks plunging. Google was to blame.
Expedia Group's vacation rental business Vrbo plans to reposition itself as a family travel site that would offer vacation rentals, resorts, and other features facilitating family vacations. The unit's new general manager Jeff Hurst told Skift Thursday that the move has been in the works behind the scenes for some time. Hurst, who was interviewed […]
As promised a few months ago, Expedia Group began this week to send hotel listings lower in the sort order on its Expedia.com and Hotels.com pages when properties add resort fees to base room rates. Speaking at a lodging breakout session on stage at the Expedia Explore '19 conference in Las Vegas Wednesday, Cyril Ranque, […]
John Kim, who took over the reins of Expedia Group's now-struggling vacation rental unit Vrbo in 2016, has been replaced in that leadership role by Jeff Hurst. In another move in Expedia Group's ongoing reorganization, which has been under way for months, Cyril Ranque, previously president of Lodging Partner Services, became president of the company's […]
2019 is almost coming to an end, and right now, the best time to travel just before the holidays, and if you want to make travel plans, you should consider the best places to visit in the U.S in November. November and generally the onset of the fall and winter seasons means that many places […]
Online travel-agency stocks plunged Thursday after Expedia’s latest earnings report revealed a struggle to contend with changing search-engine dynamics as well as trouble with some of its brands.
Stocks of online travel and reservation sites took a dive on Thursday, but Booking Holdings avoided the worst of the pain. (BKNG) stock (ticker: BNKG) was up 4.9% to $1,940.10 in premarket trading on Friday—after reporting its results late on Thursday. The stock had fallen 8% during regular trading hours.
(Bloomberg) -- Google’s moves to cram the top of its search results with more and more advertising is hammering the online travel industry, one of the company’s biggest customers.Expedia Group Inc. fell the most in 14 years on Thursday and TripAdvisor Inc. dropped the most in two years after the companies reported dismal third-quarter results and laid the blame on Google. Booking Holdings Inc.’s shares dropped 8%, too, wiping out a combined market value of more than $13 billion from the three online travel agents.Google dominates the online search market, with at least three quarters of the market. People use the search engine to research trips, so for at least a decade online travel agents have refined their websites with trustworthy content and easy booking tools to show up high in Google results.This search engine optimization, or SEO, worked well until about five years ago. Around that time, Google began placing more ads on the top of search results, pushing down the free listings. The internet giant also built new travel search tools, which were mostly paid listings, too. This means online travel agents now must pay billions of dollars each year to Google to ensure they show up high in search results and get clicks from travel planners.The online travel industry has been concerned about Google’s changes since at least 2016. But the full impact was felt this week.“Google has got more aggressive,” TripAdvisor Chief Executive Officer Stephen Kaufer said during a conference call with analysts late Wednesday. “We’re not predicting that it’s going to turn around.”Free traffic is “shrinking all the time,” Expedia Chief Executive Officer Mark Okerstrom said the same day. “Google does continue to push for more revenue per visitor. And I think it’s just the reality of where the world is.”The industry has been trying other marketing channels, such as social media and more TV advertising. But Google’s search engine is so pervasive that online travel agents have to keep buying ads from the company to keep traffic coming to their sites.D.A. Davidson analysts wrote that Expedia is exploring alternatives to mitigate its “reliance on search/Google,” but they see “no alternatives that will be able to efficiently ‘move the needle’ from a volume perspective anytime soon.”Carnage in the online travel industry comes as antitrust scrutiny of Google is ramping up in the U.S. State, federal and congressional probes are all underway to determine whether the company violates competition law. One area of concern is vertical search, where Google uses its main search engine to promote its own industry-specific products over those of other companies. Travel is one example where this is happening, along with local search, contractor marketplaces like Angie’s List and shopping-comparison services.Google has been a rising risk for the travel industry for a while, but executives have been generally hesitant to blame it for poor results. The search giant is one of the most important sources of traffic and business for online travel agencies, so they have tried to maintain a good relationship. But this quarter, Google’s impact was so painful that industry executives and Wall Street analysts couldn’t avoid it.“We see these Google changes as a potential headwind to OTA profitability,” Morgan Stanley analyst Brian Nowak said in a note to clients. This trend isn’t going away, and people who want to invest in the online travel sector should do it through Google stock, he added.Booking Holdings, the largest online travel agent, was peppered with questions about Google during a conference call with analysts on Thursday.Glenn Fogel, Booking’s chief executive officer, said the company’s future success will rely on reaching people without Google getting in the way.“What we know is most important is for us to get customers to come to us directly,” he said. Building brand strength and retaining customers better means the company “will not be as dependent on other sources of traffic,” he added.\--With assistance from Ryan Vlastelica, Olivia Carville and Ian King.To contact the reporters on this story: Gerrit De Vynck in New York at email@example.com;Kiley Roache in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TripAdvisor (TRIP) reports unimpressive third-quarter results due to weaker-than-expected revenues from the Hotels, Media & Platform segment.
We've heard the doubts for several years: Are online travel agencies' glory days, when revenue was growing 25 or 30 percent and room nights booked were jumping at similar clips, long-gone history? In contrast to Expedia Group and TripAdvisor, which posted weak third quarters and saw their market caps sliced up on Thursday, Booking Holdings […]
Online travel company Booking Holdings reported quarterly earnings that showed a slight miss on revenue but beat on earnings. The Booking earnings report came after the market close.
In an unintended duet, the CEOs of TripAdvisor and Expedia Group separately talked this week about how Google's increasing practice of directing search traffic towards its own travel businesses has adversely impacted their companies in the third quarter. For its part, Expedia Group intends to push direct booking — it mentioned fledgling Instagram and Facebook […]
The latest U.S.-China trade war news that could see the world's two largest economies roll back tariffs. Q3 earnings results from the likes of Qualcomm and Square. And why Yeti is a Zacks Rank 1 (Strong Buy) stock...
Trip.com Group says getting digital advertising revenues from its new TripAdvisor China joint venture is secondary to the need of providing global and more comprehensive content to its changing customers. Going forward, however, Trip.com Group can be expected to maximize this stream of income. “It does have a lot of great potential,” said the group’s CEO […]
TripAdvisor shares sank 20% Thursday after the vacation booking company reported third-quarter earnings that missed Wall Street expectations. "We reiterate that the companies themselves have provided very little data to corroborate these estimates.
Expedia and TripAdvisor cited weak online search and advertising trends when they widely missed third-quarter earnings forecasts on Tuesday evening. Expedia, whose portfolio includes Hotels.com and Trivago, said it spent more on advertising as links to its sites fell in the rankings of search results. TripAdvisor cautioned that its outlook for 2019 has been damped after recording softness in its business of auctioning off advertising to hotels.
At a time when headwinds from Google's business practices, lower hotel rooms rates, and a shift toward higher-cost marketing channels are negatively impacting Expedia Group's financial results, the online travel agency finds itself caught up in — and preoccupied with — an internal reorganization. "With many people focused on that effort, it did likely impact […]