US: Online travel company TripAdvisor is reportedly floating its vacation rental business collection for sale as it seeks to hone in on experiences, dining, hotels and media commitments, according to a report in Skift.
The company‘s five vacation rental brands – FlipKey and VacationHomeRentals [US], Holiday Lettings and Housetrip [UK] and Niumba [Spain] – are believed to constitute less than ten per cent of TripAdvisor’s overall revenue, and the publication is reporting that it appointed bankers more than a month ago to find potential buyers for its brands.
Should buyers be found, the likes of Expedia, Booking Holdings, Airbnb, Vacasa and OYO may be at the front of the queue if their acquisition pipelines are anything to go by.
Though TripAdvisor did not comment on the Skift story, it was reported that the company would not be selling its stake in the brand outright and would indeed generate demand for its rental businesses should the move come to fruition.
The company began acquiring vacation rental brands back in 2008 with an investment and eventual purchase of Flipkey. Following that, it bought Holiday Lettings in 2010, Niumba in 2013, VacationHomeRentals in 2014 and Housetrip in 2016.
However, in the last four years, TripAdvisor’s presence in the space has waned as competition surged from rival platforms such as Booking.com, Airbnb and Vrbo, instead eying up other travel segments that account for more of its revenue. These include Hotels, Media & Platform, and Experiences & Dining.
For more information, visit the TripAdvisor website here.