Tripadvisor Sells TheFork to American Express for $700M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Tripadvisor (TRIP) announced it has entered into a put option agreement to sell TheFork, its online restaurant reservation and management platform in Europe, to American Express (AXP) for $700M in an all-cash transaction. The agreement follows Tripadvisor's February 2026 announcement that it would explore strategic alternatives for TheFork. It recognizes the value created in the business over more than a decade, and allows Tripadvisor to focus even more fully on its Experiences strategy. The proposed transaction is expected to close before the end of 2026, subject to labor consultation and customary closing conditions, including regulatory approvals. The company anticipates minimal tax cost from the sale of TheFork, with net proceeds expected to closely approximate the gross proceeds. Potential uses of proceeds include share repurchases, debt paydown, or inorganic investment within the experiences category. As of the first quarter of 2026, the company's last reported period, the last twelve-month revenue for TheFork was $232M and adjusted EBITDA for TheFork segment for the same period was $28M.
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Analyst Views on TRIP
Wall Street analysts forecast TRIP stock price to rise
10 Analyst Rating
1 Buy
6 Hold
3 Sell
Hold
Current: 11.910
Low
12.50
Averages
16.17
High
20.00
Current: 11.910
Low
12.50
Averages
16.17
High
20.00
About TRIP
Tripadvisor, Inc. is an online travel company. The Company leverages its brands, technology, and capabilities to connect its global audience with partners through content, travel guidance, and two-sided marketplaces for experiences, accommodations, restaurants, and other travel categories. The Company operates through three segments: Brand Tripadvisor, Viator, and TheFork. Its Brand Tripadvisor segment is engaged in providing an online global platform for travelers to discover, generate, and share authentic user-generated content (UGC) in the form of ratings and reviews for destinations, points-of-interest (POIs), experiences, accommodations, restaurants, and cruises. The Viator segment offers travelers a comprehensive online marketplace that provides access to over 400,000 experiences and more than 65,000 experience operators. TheFork segment offers an online marketplace that enables diners to discover and book online reservations at approximately 55,000 restaurants in 11 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tripadvisor Sells TheFork to American Express for $700 Million
- Transaction Overview: Tripadvisor has entered into a put option agreement to sell its online restaurant reservation platform, TheFork, to American Express for $700 million in cash, recognizing the value of its portfolio and allowing a greater focus on its Experiences strategy.
- Financial Impact: The transaction is expected to provide Tripadvisor with significant financial flexibility to accelerate its capital return policy while maintaining a well-capitalized balance sheet, enabling continued investment in its Experiences business to drive shareholder value.
- Market Performance: TheFork reported $232 million in revenue and $28 million in adjusted EBITDA for the first quarter of 2026, indicating strong performance in the European dining market, and Tripadvisor aims to leverage this sale to strengthen its position in the Experiences sector.
- Future Collaboration: American Express's CEO expressed excitement about deepening the relationship with Tripadvisor, leveraging shared strengths in dining, travel, and experiences to create greater value for customers and partners, with the transaction expected to close by the end of 2026.
See More
American Express Acquires TheFork for $700 Million
- Acquisition Overview: American Express announced the acquisition of restaurant booking platform TheFork for $700 million in cash, significantly enhancing its international business, with the deal expected to close by the end of 2026.
- Positive Market Reaction: The announcement led to a 14% increase in Tripadvisor's stock price in premarket trading, indicating market optimism regarding the deal and reflecting investor confidence in Tripadvisor's future growth prospects.
- Significant Revenue Growth: TheFork generated $232 million in revenue for the fiscal year ending March 31, marking a 25% increase year-over-year, highlighting its strong performance in restaurant management and customer engagement, which attracted American Express's interest.
- Strategic Expansion Plans: This acquisition will expand American Express's network of bookable dining venues to 75,000, strengthening its position in the global dining market, particularly in competition with rivals like Booking Holdings and Airbnb.
See More
Tripadvisor Sells TheFork to American Express for $700M
- Transaction Value: Tripadvisor has entered into an agreement to sell its European online restaurant reservation platform, TheFork, to American Express for $700 million in cash, with the transaction expected to close by the end of 2026, thereby providing Tripadvisor with a strong influx of cash to support future strategic investments.
- Financial Performance: As of Q1 2026, TheFork reported $232 million in revenue over the last twelve months, with an adjusted EBITDA of $28 million, indicating its profitability in the restaurant management sector and enhancing the attractiveness of the deal.
- Tax Implications: Tripadvisor indicated that the tax cost from the sale will be minimal, with net proceeds expected to closely approximate gross proceeds, which will help improve the company's financial health and create value for shareholders.
- Strategic Synergy: American Express plans to leverage this acquisition to deepen its relationship with Tripadvisor, capitalizing on shared strengths in dining, travel, and experiences to further expand market share and enhance customer experiences.
See More
Tripadvisor Sells TheFork to American Express for $700 Million
- Significant Transaction Value: Tripadvisor has entered into a put option agreement to sell its online restaurant reservation platform, TheFork, to American Express for $700 million in cash, which not only reflects the value created in the dining sector but also allows Tripadvisor to focus more on its strategic development in Experiences.
- Enhanced Financial Flexibility: The transaction is expected to provide Tripadvisor with significant financial flexibility to accelerate its capital return policy while maintaining a well-capitalized balance sheet, enabling further investments in its Experiences business to enhance shareholder value.
- Revenue and Profitability Metrics: As of Q1 2026, TheFork reported $232 million in revenue and an adjusted EBITDA of $28 million, demonstrating its profitability and growth potential in the market, thereby enhancing Tripadvisor's overall financial performance.
- Future Collaboration Opportunities: Both companies anticipate deepening their relationship in dining, travel, and experiences, creating additional value for customers and partners, which further solidifies Tripadvisor's leadership position in the global travel market.
See More
Hamanasi Resort Named #1 Hotel in Central America
- Excellence in Hospitality: Hamanasi Adventure & Dive Resort has been recognized as the #1 Hotel in Central America and #15 Best Hotel in the World in the 2026 Tripadvisor Travelers' Choice® Awards, highlighting its exceptional standing in the travel industry, with less than 1% of hotels achieving this accolade.
- Team Dedication: General Manager Dumisani Sakuinje emphasized that this recognition reflects the passion and commitment of over 180 Belizean employees, who strive to provide every guest with a family-like experience, enhancing the resort's brand image.
- Commitment to Sustainability: As the first beachfront property in Belize certified by Green Globe, Hamanasi is dedicated to regenerative travel, actively promoting social and environmental impact, ensuring guests can enjoy luxury while participating in sustainable practices.
- Diverse Adventure Offerings: The resort offers over 30 adventure activities, including diving and hiking, blending world-class adventure with exceptional comfort, making it an ideal choice for travelers in Belize and further solidifying its market position.
See More
Tripadvisor Announces 2026 Top Hotel Destinations
- Top Hotel Worldwide: Tripadvisor's 2026 Travelers' Choice Awards crowned G.H. Universal Hotel in Indonesia as the best hotel globally, reflecting its high-quality reviews and ratings in 2025, thereby solidifying its leadership in the luxury hotel market.
- Hotel Features and Services: G.H. Universal Hotel offers 105 rooms that blend Renaissance architecture with modern luxury amenities, including 24-hour dining and a unique pet hotel, catering to diverse high-end customer needs and enhancing customer satisfaction and loyalty.
- Best Hotels in the U.S.: FivePine Lodge and Spa was named the best hotel in the U.S., attracting visitors with its unique adventure experiences and romantic ambiance, featuring luxury suites and an outdoor heated pool, further boosting the local tourism economy.
- Transparent Selection Methodology: The 2026 Travelers' Choice Awards were determined based on user reviews and ratings from January to December 2025, ensuring a fair and authoritative selection process that enhances Tripadvisor's market credibility as a travel guidance platform.
See More
Tripadvisor Sells TheFork to American Express for $700 Million
- Transaction Overview: Tripadvisor has entered into a put option agreement to sell its online restaurant reservation platform, TheFork, to American Express for $700 million in cash, recognizing the value of its portfolio and allowing a greater focus on its Experiences strategy.
- Financial Impact: The transaction is expected to provide Tripadvisor with significant financial flexibility to accelerate its capital return policy while maintaining a well-capitalized balance sheet, enabling continued investment in its Experiences business to drive shareholder value.
- Market Performance: TheFork reported $232 million in revenue and $28 million in adjusted EBITDA for the first quarter of 2026, indicating strong performance in the European dining market, and Tripadvisor aims to leverage this sale to strengthen its position in the Experiences sector.
- Future Collaboration: American Express's CEO expressed excitement about deepening the relationship with Tripadvisor, leveraging shared strengths in dining, travel, and experiences to create greater value for customers and partners, with the transaction expected to close by the end of 2026.
See More
American Express Acquires TheFork for $700 Million
- Acquisition Overview: American Express announced the acquisition of restaurant booking platform TheFork for $700 million in cash, significantly enhancing its international business, with the deal expected to close by the end of 2026.
- Positive Market Reaction: The announcement led to a 14% increase in Tripadvisor's stock price in premarket trading, indicating market optimism regarding the deal and reflecting investor confidence in Tripadvisor's future growth prospects.
- Significant Revenue Growth: TheFork generated $232 million in revenue for the fiscal year ending March 31, marking a 25% increase year-over-year, highlighting its strong performance in restaurant management and customer engagement, which attracted American Express's interest.
- Strategic Expansion Plans: This acquisition will expand American Express's network of bookable dining venues to 75,000, strengthening its position in the global dining market, particularly in competition with rivals like Booking Holdings and Airbnb.
See More
Tripadvisor Sells TheFork to American Express for $700M
- Transaction Value: Tripadvisor has entered into an agreement to sell its European online restaurant reservation platform, TheFork, to American Express for $700 million in cash, with the transaction expected to close by the end of 2026, thereby providing Tripadvisor with a strong influx of cash to support future strategic investments.
- Financial Performance: As of Q1 2026, TheFork reported $232 million in revenue over the last twelve months, with an adjusted EBITDA of $28 million, indicating its profitability in the restaurant management sector and enhancing the attractiveness of the deal.
- Tax Implications: Tripadvisor indicated that the tax cost from the sale will be minimal, with net proceeds expected to closely approximate gross proceeds, which will help improve the company's financial health and create value for shareholders.
- Strategic Synergy: American Express plans to leverage this acquisition to deepen its relationship with Tripadvisor, capitalizing on shared strengths in dining, travel, and experiences to further expand market share and enhance customer experiences.
See More
Tripadvisor Sells TheFork to American Express for $700 Million
- Significant Transaction Value: Tripadvisor has entered into a put option agreement to sell its online restaurant reservation platform, TheFork, to American Express for $700 million in cash, which not only reflects the value created in the dining sector but also allows Tripadvisor to focus more on its strategic development in Experiences.
- Enhanced Financial Flexibility: The transaction is expected to provide Tripadvisor with significant financial flexibility to accelerate its capital return policy while maintaining a well-capitalized balance sheet, enabling further investments in its Experiences business to enhance shareholder value.
- Revenue and Profitability Metrics: As of Q1 2026, TheFork reported $232 million in revenue and an adjusted EBITDA of $28 million, demonstrating its profitability and growth potential in the market, thereby enhancing Tripadvisor's overall financial performance.
- Future Collaboration Opportunities: Both companies anticipate deepening their relationship in dining, travel, and experiences, creating additional value for customers and partners, which further solidifies Tripadvisor's leadership position in the global travel market.
See More
Hamanasi Resort Named #1 Hotel in Central America
- Excellence in Hospitality: Hamanasi Adventure & Dive Resort has been recognized as the #1 Hotel in Central America and #15 Best Hotel in the World in the 2026 Tripadvisor Travelers' Choice® Awards, highlighting its exceptional standing in the travel industry, with less than 1% of hotels achieving this accolade.
- Team Dedication: General Manager Dumisani Sakuinje emphasized that this recognition reflects the passion and commitment of over 180 Belizean employees, who strive to provide every guest with a family-like experience, enhancing the resort's brand image.
- Commitment to Sustainability: As the first beachfront property in Belize certified by Green Globe, Hamanasi is dedicated to regenerative travel, actively promoting social and environmental impact, ensuring guests can enjoy luxury while participating in sustainable practices.
- Diverse Adventure Offerings: The resort offers over 30 adventure activities, including diving and hiking, blending world-class adventure with exceptional comfort, making it an ideal choice for travelers in Belize and further solidifying its market position.
See More
Tripadvisor Announces 2026 Top Hotel Destinations
- Top Hotel Worldwide: Tripadvisor's 2026 Travelers' Choice Awards crowned G.H. Universal Hotel in Indonesia as the best hotel globally, reflecting its high-quality reviews and ratings in 2025, thereby solidifying its leadership in the luxury hotel market.
- Hotel Features and Services: G.H. Universal Hotel offers 105 rooms that blend Renaissance architecture with modern luxury amenities, including 24-hour dining and a unique pet hotel, catering to diverse high-end customer needs and enhancing customer satisfaction and loyalty.
- Best Hotels in the U.S.: FivePine Lodge and Spa was named the best hotel in the U.S., attracting visitors with its unique adventure experiences and romantic ambiance, featuring luxury suites and an outdoor heated pool, further boosting the local tourism economy.
- Transparent Selection Methodology: The 2026 Travelers' Choice Awards were determined based on user reviews and ratings from January to December 2025, ensuring a fair and authoritative selection process that enhances Tripadvisor's market credibility as a travel guidance platform.
See More
