Description

TripAdvisor Inc. Expands the Experiences TAM—Will New Categories Like Attractions Move the Needle Fast Enough?

Tripadvisor reported its Q3 2025 financial results, highlighting mixed performance across various business segments. Consolidated revenue grew by 4% to $553 million, surpassing internal expectations for adjusted EBITDA, which reached $123 million or 22% of revenue. This growth is attributed primarily to strong performance in experiences and dining, with Viator and TheFork accounting for an increasing share of the company’s overall revenue and profitability. The company is undergoing a strategic transformation aiming to pivot towards becoming an experiences-led and AI-enabled entity. A notable strategic shift includes unified operations of Viator and Tripadvisor’s experiences segments to focus on growing the experiences category, which the company believes has substantial growth opportunities due to limited global competition. The segment experienced a significant achievement in the last 12 months with $4.