Latest news with #JohannesThomas
Yahoo
9 hours ago
- Business
- Yahoo
Trivago watched its revenue forecast plummet from $1 billion to nearly zero—so the company tapped a set of former interns to turn it around
Interns are often brushed off for being at the bottom of the totem pole, but at some companies, it's become a part of the secret recipe for landing a gig in the C-suite. Trivago is part of a list of companies, including Nike, HP, and EY, that have promoted former coffee-fetchers to the top of the corporate ladder. In the matter of a month during the pandemic, travel planning company Trivago's revenue forecast plummeted from $1 billion to virtually zero. It was a 'near-death experience' that resulted in a 'deep winter' for the company, according to CEO Johannes Thomas. Actual revenue sank 70% to 249 million euros in 2020 from 839 million euros in 2019, the latter equivalent to about $940 million at the time. But even as restrictions were lifted and travel surged back, Trivago still had not recovered—and thus it was time for a shake-up in the C-suite. 'After you have a near-death experience and three years of depression, you have a team that doesn't believe anymore,' Thomas, who was brought in as CEO to turn the company around in 2023, tells Fortune. But for Thomas and other executives, what's notable about their experiences is not their most recent roles—it's how they started their careers. Thomas first joined Trivago in 2011 as an intern working in online marketing, and he's quietly assembled other former interns, including Chief Financial Officer Wolf Schmuhl and Chief Marketing Officer Jasmine Ezz. Thomas says having leaders who understand the business and its culture from the ground up are key to returning the company to its former glory. And while Trivago's revenue for 2024 was still half what it was five years ago in 2019, first quarter 2025 revenues increased by 22% to $124 million. While retirees are often known for traveling frequently, one of Trivago's focuses is on young people—and it makes sense considering Gen Z's spending habits. The generation was the only group that reported an increase in year-to-year travel spending between 2023 and 2024, according to Berkshire Hathaway's State of Travel Insurance Report. The average trip was over $11,000. '(We're) trying to build an ecosystem—a culture and environment where young people can grow and where people can thrive,' Thomas says. That's another reason why Trivago's C-suite is not stacked with Gen Xers, but instead millennials who understand how young people think, spend, and travel. According to Thomas, the average Trivago customer is 34 years old, and 20% have families. By focusing on young people as a company, Trivago not only is able to tap into a customer market, but also an employee talent market. 'You get rock stars on the senior level football team,' Thomas says. 'And then you have a second team of young talents that have a chance to grow in this combination we try to execute on.' Trivago is not the only company that realized that those with the strongest roots to their company are the best leaders. Last year, Nike became the latest Fortune 500 company to name a former intern as a CEO. Elliot Hill began at the sports-gear giant at age 19 as an apparel sales intern and has only ever had one company at the top of his paychecks. In a statement last year, Hill said Nike has 'always been a core part of who I am.' HP CEO Enrique Lores, Principal Financial Group CEO Deanna Strable, and EY CEO Janet Truncale all similarly went from fetching coffees as an intern to being promoted to the corner office. And while focusing on hard work as an intern may set your path in motion to one day become chief executive, Lores admits that there's also an element of luck. 'You can be very smart or very good,' he previously told Fortune. 'But you also need to be lucky, and that's a very important thing for all of us to accept.' This story was originally featured on
Yahoo
26-05-2025
- Business
- Yahoo
Hotel booking giant claims tourists are now shunning American holidays
Holidaymakers from countries most affected by US President Donald Trump's trade tariffs are opting against vacations in America, while UK and US travellers are increasingly choosing staycations amid economic concerns, according to hotel search site Trivago. Trivago's chief executive, Johannes Thomas, revealed to the PA news agency that the group has observed double-digit declines in bookings to the US from travellers in Canada, Mexico, and Japan – countries significantly impacted by the trade disputes. This shift in travel patterns suggests a potential link between economic policies and tourism choices, with travellers from affected nations seemingly diverting their holiday spending elsewhere. Simultaneously, rising economic anxieties appear to be influencing UK and US travellers to favour domestic holidays, contributing to a growing staycation trend. Demand among Germans for trips to the US is also down heavily, with a single-digit decline in bookings for accommodation in America, although the firm has not seen a significant change in demand from Britons travelling to the US. Mr Trump has levied tariffs on more than 180 countries, with Canada and Mexico among the first to be impacted – although he later paused many of his so-called 'reciprocal' tariffs for 90 days following financial market turmoil. Germany – the largest economy in Europe – is set to be hit particularly hard by the US tariffs and the threat to its exports. Mr Thomas added that US holidaymakers are also paring back their holiday spend in the face of economic uncertainty caused by Mr Trump's move to unleash higher tariffs on countries across the world. Mr Thomas told PA: 'If you look at the different markets, the US tends to be the more sensitive one to uncertainty. 'People there are much more connected to the stock market and have a higher amount of debt, so are more sensitive to economic developments.' Bookings on the site show Americans are spending less on their trips, while there is higher demand for cheaper hotels and lower star categories. German-based Trivago, which is majority-owned by Expedia, said that the economic worries caused by the trade war has also seen a trend for many travellers across the US and UK to opt for domestic trips. Recent booking data shows that in the UK, there has been a 25% year-on-year leap in demand for domestic travel for the key months of July to September. 'In times of uncertainty, people stay closer to home,' said Mr Thomas. The group said London is topping the destinations for British staycationers, followed by Edinburgh, where demand is up by nearly 30%; York; Blackpool; and Manchester. But Mr Thomas said that among Britons, bookings have remained robust despite clouds over the wider global and UK economy, with a 16% increase in total travel demand for the peak quarter to September.
Yahoo
26-05-2025
- Business
- Yahoo
Demand for trips to US slumps among tariff-hit countries, says Trivago
Holidaymakers in countries hit hardest by Donald Trump's trade tariffs are shunning America for their trips abroad, while UK and US travellers are increasingly choosing to staycation amid economic worries, according to hotel search site Trivago. Johannes Thomas, chief executive of Trivago, told the PA news agency the group was seeing double-digit declines in bookings to the US from travellers in Canada, Mexico and Japan. Demand among Germans for trips to the US is also down heavily, with a single-digit decline in bookings for accommodation in America, although the firm has not seen a significant change in demand from Britons travelling to the US. Mr Trump has levied tariffs on more than 180 countries, with Canada and Mexico among the first to be impacted – although he later paused many of his so-called 'reciprocal' tariffs for 90 days following financial market turmoil. Germany – the largest economy in Europe – is set to be hit particularly hard by the US tariffs and the threat to its exports. Mr Thomas added that US holidaymakers are also paring back their holiday spend in the face of economic uncertainty caused by Mr Trump's move to unleash higher tariffs on countries across the world. Mr Thomas told PA: 'If you look at the different markets, the US tends to be the more sensitive one to uncertainty. 'People there are much more connected to the stock market and have a higher amount of debt, so are more sensitive to economic developments.' Bookings on the site show Americans are spending less on their trips, while there is higher demand for cheaper hotels and lower star categories. German-based Trivago, which is majority-owned by Expedia, said that the economic worries caused by the trade war has also seen a trend for many travellers across the US and UK to opt for domestic trips. Recent booking data shows that in the UK, there has been a 25% year-on-year leap in demand for domestic travel for the key months of July to September. 'In times of uncertainty, people stay closer to home,' said Mr Thomas. The group said London is topping the destinations for British staycationers, followed by Edinburgh, where demand is up by nearly 30%; York; Blackpool; and Manchester. But Mr Thomas said that among Britons, bookings have remained robust despite clouds over the wider global and UK economy, with a 16% increase in total travel demand for the peak quarter to September. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
26-05-2025
- Business
- The Independent
Hotel booking giant claims tourists are now shunning American holidays
Holidaymakers from countries most affected by US President Donald Trump 's trade tariffs are opting against vacations in America, while UK and US travellers are increasingly choosing staycations amid economic concerns, according to hotel search site Trivago. Trivago's chief executive, Johannes Thomas, revealed to the PA news agency that the group has observed double-digit declines in bookings to the US from travellers in Canada, Mexico, and Japan – countries significantly impacted by the trade disputes. This shift in travel patterns suggests a potential link between economic policies and tourism choices, with travellers from affected nations seemingly diverting their holiday spending elsewhere. Simultaneously, rising economic anxieties appear to be influencing UK and US travellers to favour domestic holidays, contributing to a growing staycation trend. Demand among Germans for trips to the US is also down heavily, with a single-digit decline in bookings for accommodation in America, although the firm has not seen a significant change in demand from Britons travelling to the US. Mr Trump has levied tariffs on more than 180 countries, with Canada and Mexico among the first to be impacted – although he later paused many of his so-called 'reciprocal' tariffs for 90 days following financial market turmoil. Germany – the largest economy in Europe – is set to be hit particularly hard by the US tariffs and the threat to its exports. Mr Thomas added that US holidaymakers are also paring back their holiday spend in the face of economic uncertainty caused by Mr Trump's move to unleash higher tariffs on countries across the world. Mr Thomas told PA: 'If you look at the different markets, the US tends to be the more sensitive one to uncertainty. 'People there are much more connected to the stock market and have a higher amount of debt, so are more sensitive to economic developments.' Bookings on the site show Americans are spending less on their trips, while there is higher demand for cheaper hotels and lower star categories. German-based Trivago, which is majority-owned by Expedia, said that the economic worries caused by the trade war has also seen a trend for many travellers across the US and UK to opt for domestic trips. Recent booking data shows that in the UK, there has been a 25% year-on-year leap in demand for domestic travel for the key months of July to September. 'In times of uncertainty, people stay closer to home,' said Mr Thomas. The group said London is topping the destinations for British staycationers, followed by Edinburgh, where demand is up by nearly 30%; York; Blackpool; and Manchester. But Mr Thomas said that among Britons, bookings have remained robust despite clouds over the wider global and UK economy, with a 16% increase in total travel demand for the peak quarter to September.
Yahoo
14-05-2025
- Business
- Yahoo
Trivago's millennial CEO says he never had a career plan: ‘I just followed where the energy was'
Gen Z is often ridiculed for their focus on vibes—whether it's for investing or taking a job. But the millennial CEO of Trivago has done exactly that for his entire career. 'I never had concrete plans in my life,' Johannes Thomas tells Fortune, adding that going with your gut—and out of your comfort zone—is the secret to a 'thriving future.' Despite today's rocky job market, Gen Z may be on the money when it comes to 'manifesting' success, embracing being a little "delulu," and taking on jobs based on 'the vibes.' That's because the CEO of the hotel search company Trivago says that going with the flow can do wonders for your career—and that's exactly what worked for him. 'I never had concrete plans in my life,' Johannes Thomas tells Fortune. 'I just followed where the energy was, where my curiosity was.' His advice for Gen Z, who are currently struggling to land their foot in the door of employment: 'See the opportunities and then follow your curiosity.' For Thomas, that has meant having a squiggly career and dabbling across marketing, product, technology, and even sales before being named CEO in 2023. The millennial has held seven roles in under 12 years at Trivago, according to his LinkedIn. 'I think the more you stay adaptive and do different things and not be too focused in one thing and not stay in the comfort zone for too long, I think the more likely are your odds of having a thriving future,' Thomas adds. This may be a welcoming sign for Gen Zers who are already banking on job-hopping as a way to land a higher salary. In today's market, where AI threatens entire industries, switching lanes could spotlight their versatility. After all, adaptivity is among the fastest-growing skills in the U.S. for 2025, only beat out by AI literacy and conflict mitigation—according to LinkedIn. Being open-minded to learning new skills doesn't mean you need to focus on something outside of your interests. Don't take on any and every opportunity that comes your way because it looks good on paper. When he says, 'See the opportunities and then follow your curiosity,'—the curiosity part is a key component here. Really, Thomas says, it will never work out in the long run if you can't answer: why are you doing it? 'You can work hard, but if you work on the wrong things, it doesn't really help,' he says. 'I do believe, if you work on something you are curious about and you care about, you can be 10 times more productive.' The one skill he says all Gen Z must get to grips with—no matter their dream job—is technology. 'I'm talking to my cousins that are now leaving school—[I'm] telling them to get technical literacy,' Thomas says. 'Get your head around technology. You shouldn't be scared about it.' And ultimately, if you find yourself no longer curious about the role or the industry you are in, it may signal it's time to try something new. 'Wherever my learning curve would go down, even in my role now, I would leave and find another sparking environment, where I have people that want to move mountains, that are curious,' Thomas adds. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
