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Shares of TripAdvisor Fly Higher After Aligning With Marriott International on Hotel Bookings

July 7, 2023
in Trade Tube
Reading Time: 1 min read
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Shares of TripAdvisor (TRIP) wrapped up Wednesday’s trading day to upside by over 14 percent. The stock is TheStreet’s Move of the Day. Shares saw a boost after Marriott International (MAR) announced a partnership with TripAdvisor. Towards the end of the summer, TripAdisor users will have the ability to book hotel rooms from Marriott’s vast network of 4,200 properties within the TripAdvisor Instant Booking site. ‘We welcome Marriott to the Instant Booking platform, which provides travelers with a new, simplified booking functionality and an opportunity for Marriott to expand its relationship with guests before, during and after the trip,’ said Stephen Kaufer, president and CEO of TripAdvisor. TripAdvisor’s Instant Booking service debuted in June of last year and said is slowly adding overseas locations to the platform. During its first-quarter earnings report, TripAdvisor saw some 340 million unique visitors per month, per data from Google Analytics. ‘TripAdvisor is a perfect partner for Marriott, both strategically and culturally,’ said Arne Sorenson, CEO and president of Marriott International. TheStreet’s Scott Gamm reports from New York.

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