Tripadvisor names new president for Viator unit

NEEDHAM, Mass. - Tripadvisor, Inc. (NASDAQ: TRIP), currently valued at $1.94 billion by market capitalization, has announced a strategic leadership reorganization for its subsidiary Viator, the global experiences marketplace. Pepijn Rijvers is set to take over as President effective April 1, 2025, while Kristin Dorsett will step up as Chief Operating Officer.

The move comes as Tripadvisor Group intensifies its emphasis on the experiences sector, with Viator demonstrating robust growth and profitability in the past year. The company reported $840 million in revenue and approximately $4.2 billion in gross bookings value for the full year of 2024. According to InvestingPro data, Tripadvisor’s total revenue reached $1.835 billion in the last twelve months, with analysts expecting continued net income growth this year.

Rijvers, who will report to Matt Goldberg, President and CEO of Tripadvisor Group, brings over a decade of experience from Booking.com, where he played a pivotal role in expanding the travel industry’s largest accommodations marketplace. His background spans product, supply, marketing, and data, equipping him to propel Viator and Tripadvisor Group’s experiences strategy forward.

Dorsett, a seasoned Viator executive, has been instrumental in leading various aspects of the company’s supply and technology divisions. In her new role, she will concentrate on strategy execution and improving operations across Viator’s business.

Viator, known for its extensive array of approximately 400,000 experiences and partnerships with over 65,000 operators, is poised for further growth under the leadership of Rijvers and Dorsett. The company also facilitates experiences storefronts for thousands of websites, including major travel brands.

This executive reshuffling is aimed at reinforcing Tripadvisor Group’s market presence in the experiences category, leveraging Viator’s scale, Tripadvisor’s influence in travel planning, and the group’s extensive distribution network. The information is based on a press release statement from Tripadvisor. Despite the stock’s challenging performance, down nearly 50% over the past year, InvestingPro analysis suggests the company is currently undervalued, with additional insights available in the comprehensive Pro Research Report covering 1,400+ top stocks.

In other recent news, Tripadvisor has been in the spotlight with several key developments. Moody’s has downgraded Tripadvisor’s Senior Secured First Lien Term Loan B facility from Ba2 to Ba3, while maintaining a stable outlook. This downgrade is linked to Tripadvisor raising an additional $350 million in debt, intended to repay convertible notes due in 2026. Meanwhile, Mizuho Securities has raised its price target for Tripadvisor to $20, citing sustained growth in the Viator segment despite challenges in the hotel meta search area. Bernstein also maintains an Outperform rating with a $21 target, highlighting promising financial results in subsidiaries like Viator and The Fork, which are expected to drive significant EBITDA growth.

Cantor Fitzgerald, however, has lowered its price target for Tripadvisor to $13, maintaining an Underweight rating due to mixed fourth-quarter results. While revenue and EBITDA exceeded expectations, the Brand Tripadvisor segment experienced a revenue decline. Furthermore, Tripadvisor is preparing for a merger with Liberty TripAdvisor Holdings, which involves a $392 million transaction. Despite these challenges, Tripadvisor’s liquidity remains robust, supported by its global brand strength and diverse revenue streams. Analysts express cautious optimism, noting potential for growth and strategic initiatives in the coming years.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.