COMPANY PROFILE -TripAdvisor
Business Sector :Travel Services, Internet Information Providers (in certain countries)
Operating Geography :USA, North America, Global
About TripAdvisor :
TripAdvisor, Inc. is an American based Travel and restaurant website company founded by Stephen Kaufer, Langley Steinert, Nick Shanny, and Thomas Palka in February 2000. The company initially focused more on official data from newspaper, magazine etc., and they also had a button where people could add their own experiences and reviews. That instantly took off and they later made their business model around hotel and restaurant reviews, accommodation bookings and other travel-related content, also including interactive travel forums. It was one of the early adapters of user generated content and went on to become the largest social travel website with more than 830 million reviews of hotels, restaurants, attractions and other travel-related businesses. To ensure that the travelers find the best prices for their booking, it compares prices from over 200 websites and presents the best ones to the consumers. It is a free of cost information provider, has a hotel reservation facility and advertising business model funds the website. TripAdvisor is now available in 49 markets and 28 languages. The motto of the company is Know better. Book better. Go better.
TripAdvisor’s mission statement is “To help travelers around the world plan and have the perfect trip”.
TripAdvisor Revenue :
US $1.6 billion - FY ending March 2018 (y-o-y growth negligible)
US $1.55 billion - FY ending March 2017
Competitive Analysis of TripAdvisor
The SWOT analysis of TripAdvisor is presented below:
| Strengths | Weaknesses |
1. Leader in the category of Travel services and Travel & Tourism
2. Wide distribution network and reach in over 49 markets, performing excellently well in the new markets
3. Strong brand portfolio with diverse revenue streams
4. Strong dealer community and high level of customer satisfaction
| 1. Inconsistent financial performance
2. Biased reviews from visitors/viewers
|
| Opportunities | Threats |
1. Strong potential in global travel market
2. Investments in cutting edge technology
3. Option to delve into newer segments
4. Increase in the demand for newer experience and self-planned trips
5. Low Inflation rate, Interest rates and Ease of regulations
| 1. Increase in competition and bargaining power of suppliers
2. Environment regulations and rising Population
3. Newer technologies developed by competitors and increasing pay level.
|
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Detailed SWOT Analysis of TripAdvisor
Strength
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Weakness
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Opportunity
1. Strong potential in global travel market: Phocuswright, an independent travel, tourism and hospitality research firm, estimates the annual global travel market at $1.7 trillion. It also estimates online penetration of global travel bookings currently to be less than 50%. However, travel bookings have been moving online as consumers gain access to the internet and global tourism activity continues to increase, driven by middle class and economic growth. TripAdvisor, as an internet-enabled travel-focused business, allows consumers to research travel activity and share their experiences and opinions with a global audience. As consumer online travel media consumption and online travel commerce activity increases, believe travel and travel-related businesses will continue to allocate greater percentages of their marketing budgets to online channels in order to grow their businesses. This creates a significant long-term growth opportunity for TripAdvisor’s business.
2. Option to delve into newer segments: There is a major market lying untapped for TripAdvisor, Inc. to delve into which the business of Flight booking and activities/combo bookings. This diversification will help the company scale up in terms of revenue and also help them gain a bigger market share by becoming an all in one solution offering. In India MakeMyTrip initially started only with travel booking Flight booking – to be more specific. But now it has expanded into various booking options like train, bus etc. and also earns major revenue from Economical hotel booking. TripAdvisor can move in the opposite direction by setting up an extensive booking platform from a potential partnership with Skyscanner to reach out to entire world. It can also start a new service segment of Taxi services booking in major cities so that the travelers do not have to face the hassle of transportation in foreign land and with the trust of TripAdvisor they will feel comfortable. Also tapping into the ever growing Digital Advertising which currently has a total market share of $479B with a CAGR of 14% by 2022. TripAdvisor with its wide audience (460M by Q3 2019) has been way below the average ($1066M) and can capitalize value in high intent, global audience and brand safe platform. It has first party data advantage and can build a high-powered advertising suite spanning native, video and programming solutions.
3. Increase in the demand for newer experience and self-planned trips: With the increase in the internet penetration across the globe and Information being readily and easily available for people, there has been a surge of demand for newer experience and self-planned trips. With people wanting to explore and Millennials looking for newer experiences, the company is presented with an opportunity to provide a packaged offering which would serve them. Also with the slowing of planned trips business, it will benefit TripAdvisor to generate attraction and engagement. There has been an increase in average household income along with an increase in consumer spending which will also help the company to earn revenue and offer services as people are willing to buy. Population is also expected to grow at a positive rate which is also a big plus for TripAdvisor.
The remaining section under "Opportunities" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE/PESTEL analysis of TripAdvisor is presented below:
| Political | Economical |
1. Political stability and levels of corruption
2. Legal framework for contract enforcement
3. Trade regulations & tariffs related to Technology
| 1. Fluctuations in currency exchange rates |
| Social | Technological |
1. Increasing consumer spending on experiences to drive travel growth
2. Class structure, hierarchy and power structure in the society.
3. Focusing on consumer leisure interests
| 1. Changing business models driven by technology in online travel
2. Rate of technological diffusion
|
| Legal | Environmental |
1. Copyright, patents / Intellectual property law
2. Employment law and data protection law
| 1. Weather and climate of the place
2. Laws regulating environment pollution
|
On purchase the TripAdvisor SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
Detailed Pestle Analysis of TripAdvisor
Political
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Economic
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Social
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Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Weather and climate of the place: For TripAdvisor, which is a travel site, for it to list any place or suggest any place of travel to its customers, it should provide very accurate details about the climatic information of that place. For it to happen, the company should employ efficient data tools. For example if TripAdvisor can tell its customers that there is an approaching Hurricane in one of the cities/islands it will help the customers to plan their trip accordingly. TripAdvisor should come up with tools with the help of AR & IOT to help customers plan their trip more effectively in respect to Weather and climate of the place. Currently they are not doing anything remarkable in this aspect.
2. Laws regulating environment pollution: Before suggesting a place or packaging a tour, laws relating to environment of that place should be very clear and it should be communicated to the customers from beforehand and this is one of the duties of business in this field. Also it should be updated about it so that their operations do not violate any of the laws which the country has built around Environment safety. For example, in partnership with Prince Harry, they have launched a sustainable travel initiative Travalyst, aiming to encourage sustainable travel practices across the industry.
On purchase the TripAdvisor SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| TripAdvisor Segmentation, Targeting and Positioning (STP) Analysis |
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| TripAdvisor Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in TripAdvisor SWOT & PESTLE Analysis Report
1. TripAdvisor Company Website - http://ir.tripadvisor.com/
2. TripAdvisor Annual Report 2018 - http://ir.tripadvisor.com/static-files/df07e295-8ae8-4d0a-a18c-a159e1349475
3. TripAdvisor Annual Report 2017 - http://ir.tripadvisor.com/static-files/840c6d1c-9c17-46c9-b52f-3586ead2515f
4. TripAdvisor company profile -https://www.reuters.com/companies/TRIP.O
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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TripAdvisor SWOT and PESTLE analysis has been conducted by Mitesh Baheti and reviewed by senior analysts from Barakaat Consulting.
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