Tripadvisor tours and activities brand Viator reported an 11% revenue increase year over year to $270 million for the three months ending June 30, 2025.
Experience bookings volumes increased 15% in the second quarter to 6.2 million year over year and gross bookings value hit $1.3 billion, an increase of 13% on the same quarter in 2024.
Adjusted EBITDA for Viator in Q2 was $32 million, or approximately 12% of revenue compared to $10 million, or 4% of revenue in Q2 of 2024.
Revenue for brand Tripadvisor was down 3% year over year to $242 million. Branded hotel revenue increased 1% in the second quarter to $152 million while media and advertising revenue saw a 13% year-over-year decline to $36 million. Meanwhile, experiences and dining revenue dipped 7% year over year to $45 million.
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Tripadvisor Group revenue increased 7% year over year to $529 million while net income was $36 million. Adjusted EBITDA was $107 million or 20% of revenue.
“We are pleased with our second quarter results, a reflection of the value we’re driving to our customers and partners across the globe,” said Matt Goldberg, CEO. “This quarter is another example of our disciplined investment decisions and execution, and the changing composition of our financial mix towards our growth marketplaces. As we look to the back half of the year and beyond, we will continue to prioritize the highest growth opportunities across travel by leveraging our unique assets and trusted position across travel and experiences.”
Mike Noonan, Tripadvisor’s chief financial officer, also hailed a solid Q2.
“Our focus remains on executing against our strategic priorities to drive long-term sustainable growth and to build on our position as a market leader in experiences,” said Noonan.
The group’s marketing costs rose 7% in Q2 to $218 million. Technology costs were $25 million for the period versus $22 million in Q2 2024.
App engagement
Goldberg touched on "visible progress" with app engagement for brand Tripadvisor in prepared remarks. He said the company was "driving more members directly to our app, which is the fastest growing
part of our audience."
"We like the economics of these members: while still a small portion of
our total volume, as they scale, they will reduce our reliance on paid channels and their ARPU
continues to grow by double-digits year over year."
Tripadvisor has recently enhanced the app with improvements to hotel shopping and free membership in the United States.
"The more travelers interact with the app,
the more benefit they receive. Trip Cash accumulates while planning, booking and offering
guidance to other travelers, rewarding their role in the community as well as their bookings
across both hotels and experiences," Goldberg said.
Tripadvisor was asked about recent engagement from two new shareholders during its Q2 earnings call with analysts.
In early July, Starboard Value took a 9% stake in Tripadvisor, describing the investment as an attractive opportunity at the time. Starboard describes itself as an investor in "deeply undervalued companies" on its website.
More recently, Bloomberg published a story about a letter from Palliser Capital to Tripadvisor's board urging a strategic review and possible sale of the company.
Goldberg reiterated that the company values "constructive engagement with all of our shareholders and appreciate their feedback."
"We're focused on creating value, achieving our vision and driving these strategies," he said.
This story was updated after the company's Q2 2025 earnings' call.