Tripadvisor Announces Closing of Merger with Liberty TripAdvisor and Finalizes Conversion to a Nevada Corporation
In connection with the Merger, (i) the shares of Liberty TripAdvisor Series A Common Stock and Series B Common Stock issued and outstanding were immediately converted into the right to receive $0.2567 per share in cash (without interest), totaling approximately $20 million in the aggregate; (ii) all shares of Liberty TripAdvisor's 8% Series A Cumulative Redeemable Preferred Stock issued and outstanding immediately prior to the effective time of the Merger were converted into the right to receive, in the aggregate, approximately $42.5 million in cash, without interest, and 3,037,959 validly issued, fully paid and non-assessable shares of Tripadvisor common stock; and (iii) Liberty TripAdvisor's 0.50% Exchangeable Senior Debentures (the "Exchangeable Debentures") of approximately $326 million were repaid in accordance with their terms, with the remaining approximately $4 million to be redeemed within approximately 30 days post-close. The aggregate transaction value was approximately $430 million, based on the April 28, 2025 closing price of Tripadvisor shares of $12.82.
At the time of close, Liberty TripAdvisor owned 14,023,684 shares of Tripadvisor common stock (16,445,894 shares of Tripadvisor common stock originally held at the time of entry into the agreement and plan of merger governing the Merger, less 2,422,210 shares that were sold as part of Liberty TripAdvisor's variable prepaid forward contract) and 12,799,999 shares of Tripadvisor Class B common stock. Upon consummation of the Merger, Tripadvisor retired the shares of Tripadvisor common stock and Tripadvisor Class B common stock held by Liberty TripAdvisor, and issued 3,037,959 shares of its common stock to the Liberty TripAdvisor preferred shareholder, resulting in a net reduction of its share count outstanding of approximately 23.8 million shares. The transaction resulted in the simplification of Tripadvisor's capital structure into a single class of shares outstanding with no controlling stockholder.
Separately, effective April 29, 2025, Tripadvisor finalized its redomestication by conversion from the State of Delaware to the State of Nevada, as approved by Tripadvisor stockholders in June 2023.
About Tripadvisor
Tripadvisor, the world's largest travel guidance platform*, helps millions of people each month** become better travelers, from planning to booking to taking a trip. Travelers across the globe use Tripadvisor's website and app to discover where to stay, what to do and where to eat based on guidance from those who have been there before. With more than a billion reviews and contributions, travelers turn to Tripadvisor to find deals on accommodations, book experiences, reserve tables at delicious restaurants and discover great places nearby.
Tripadvisor LLC is a wholly owned subsidiary of Tripadvisor, Inc. (Nasdaq: TRIP). The subsidiaries of Tripadvisor, Inc. own and operate a portfolio of travel media brands and businesses, operating under various websites and apps.
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Hospitality Net
16-06-2025
- Hospitality Net
What Is a Metasearch Engine? The Ultimate Guide for Hotels
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Popular examples, which we expand on below, include Google Hotel Search (previously known as Google Hotel Ads), Trivago and Tripadvisor. Metasearch engines are widely used by consumers, especially in the early stages of trip planning. They appeal to price-conscious travellers who want to ensure they're getting the best deal, as well as to those looking to understand their accommodation options quickly. Their transparent format, showing multiple prices for the same hotel, gives users a sense of control and confidence. The concept of metasearch dates back to the 1990s, when platforms like Kayak and SideStep emerged to simplify flight and hotel shopping. These tools were created to address growing online choice fatigue, bringing clarity to a fragmented, fast-growing travel market. Metasearch vs traditional search engines A traditional search engine – like Google or Bing – uses a web crawler to index vast chunks of the internet. 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Crucially, metasearch platforms rely on integrations, so users only see rates from sources that are actively participating. Metasearch vs OTAs OTAs like Expedia and are full-service booking platforms. They list accommodation options, take reservations, process payments and often handle customer service. OTAs earn commission on each booking made through their platform and typically own the entire booking experience from search to confirmation. Metasearch engines, on the other hand, don't process bookings themselves. Instead, they display rates from multiple sources – including OTAs and hotel websites – and redirect users to complete the booking on the chosen site. This makes metasearch a traffic-referral model rather than a transactional one. The advantage of metasearch lies in its price transparency and brand control – you can advertise direct rates alongside OTA listings, encouraging users to book direct on your website. OTAs, however, often offer stronger conversion tools, loyalty programmes and packaged travel options. Some OTAs, like blur the line by operating as both an OTA and a metasearch engine. They may list competing rates (e.g. from sister brands) or aggregate inventory in search results. For you as a hotelier, this dual role creates more competition and highlights the importance of having a strong, visible direct channel presence on metasearch platforms. How do metasearch engines work? Metasearch engines operate through a structured architecture designed to gather, process and display real-time data from multiple sources. At the front end is the user interface (UI), typically a clean, intuitive search bar where users input their destination, dates and preferences. The display layer then shows relevant results in a comparative format, often with filters for price, star rating, distance, user reviews and more. 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Hospitality Net
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- Hospitality Net
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