TRIP - Earnings call transcript Q2 2019

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Operator

Good morning and welcome to TripAdvisor’s Second Quarter 2019 Earnings Conference Call.

As a reminder, today’s conference is being recorded.

At this time, I’d like to turn the conference call over to TripAdvisor’s Vice President of Investor Relations, Mr. Will Lyons. Please go ahead.

Will Lyons

Howard. Thanks, and call. everyone, to welcome morning, our Good

Joining our CFO, are our Kaufer, and CEO, Steve Ernst me today Teunissen.

we prepared Last most to night website will quarter discussed and find second measures and located comparable filed available after market the this non-GAAP on close, GAAP XXXX we at ir.tripadvisor.com. reconciliations earnings financial release, Investor of on the our remarks distributed In our made call. Relations our you release measures financial

financial information, financial on which supplemental measures find non-GAAP as metric. discussed call certain performance also well as You’ll this includes other

circumstances. I’d this TripAdvisor as XXXX. begin, forward-looking of estimates we as statements Please earnings like these materially may the other or our statements forward-looking could factors X, with August disclaims Before filings differ events well our to for actual any remind that and to release views today, information SEC call obligation you that to concerning from statements. management’s cause that refer future reflect to represent these contain as update results to

is who’ll questions. open your few call a the Steve, share thoughts to we before up here Now,

Steve Kaufer

Thank night you, consolidated quarter Hotels, the growth profit margins & good Experiences Dining Will, bookings, first rapid summarize, drove & and in we of Platform segment half in XXXX, second profit profit remarks from and growth everyone. and expanded our strong To prepared and grew segment last Media morning, revenue. and delivered supply

towards double-digit revenue track deliver with on keep consolidated EBITDA progress half First we're us growth year, our to pleased growth adjusted results our XXXX objectives. this and

community. world's the TripAdvisor largest travel remains

to to number enable engagement, and a a capture compelling This and initiatives also operating enhanced to partners We trusted people-powered We're holistic business on in customer year, we travel foundation a information executing world-class platform, on seamless unique further laying help us deepen of focus our for and We a the monetize ways. our travelers have members, deliver a built which world offering customer are more consumers more on our value explore discover and the powerful and well travel brand. media grow are serve we significant enable our and with experience. experience global to can influence. in

call open-up for the now questions. We'll

Operator

or [Operator Our the from from question first Deepak comment line comes Instructions] Barclays. of Mathivanan

is line Your open.

Deepak Mathivanan

Hey, for guys. the taking Thanks questions.

So, that, – you new a first, at strategy at ad in And the little detail? steadily some efforts units look we can closely. the The improving bit you're more talk on launching particularly about media that the content feed very also recently. noticed media is and we the behind

early of terms Although next makes this days, efforts expect next few – to it's also still in a see business what monetization in and product in terms few next quarters in the years? say should few sizable over we the that more of both

Steve Kaufer

across to eat. That's This the a travel offer as ecosystem. in clients. we to than for well to tapped million history, for that users We all place can visibility Steve. our so And monetized folks through users, as you a and are we an really them place different clients kind don't looking endemic of unique place to as the couple for all do, is on feel know, vehicles Thanks so to across to of XXX a amount but into stay, of almost to influence site Sure. looking first want our a our we've thing these the opportunity looking question. segment remember for of go, non-endemic these far and incredible understand more we've who they're better

units. couple That's great. a ad noticed you've So of different

throughout the pieces more see You'll site. custom

products I wouldn't I integrated that, wouldn't I would implement new but of feed wouldn't it new the the be part as You'll pieces. say pieces. it that The majority see guess be would -- be more we native of will guess

assembling. at where location? hotel going or And where can inspire them? can All down we devices of help a then capabilities comes units programmatic new can we're Where in the video stack clients units, the clients how better to that point. can better for them already in that we we our select that ad across text to buy platform, we process are a general inspire ad right all decision find or right do easier to on them consumers thing go the We're help targeting to our our our more of and

to with we nice years. should we our we some be opportunity size, using part for it where display haven't five – our very three see believe we people, peers doubling relatively what Compared but much our new before. see us for media say a as opportunity next So relatively effort. this is business in of nice audience to business new the latest to technology and to invested a this fantastic we dramatically of that have a I it's grow

Deepak Mathivanan

there Great. from and comping calling returning about Thanks, well? of at any then Steve. surprise there the was on it in marketing at half looking all? it? segment takes is some XQ. you of puts that’s expenses, trends other And revenue a you're HM&P in are back XQ so How you. terms in going Thank Ernst that then to well, as through growth And as out or Is to the in you the primarily thinking

Ernst Teunissen

in HM&P us. not The was growth to profit Deepak. Hey a surprise trend

from benefit our marketing done to optimizations around we've expenses. that aggressive continued continue We saw We improvement. the profit

HM&P close EBITDA the very mark. growth total was XX% a to now, segment half First have in our XX% we QX and of

strong and very for was very pleasing that us. So

we of the revenue weakness to overall said see the revenue result as pullback. we would side, On line a some marketing in continue that had the

as for -- growth. QX for all additionally that Into the if But ahead the rest the that we SEO look the next seeing done. some segment year, go to fully we marketing back quarter This have we reset of focused have well year, QX lapped we saw trends you increased the on. in are we

We to HM&P to growth return marketing we're eight a the forecasting segment start position year. to be will in growing that on channels in and our again

an additional the is growth half. Display for back driver

So, display the initiatives it's kick-in some just about contribution our marketing was growth end as to talking The comping extra Steve for year expectation. towards revenue that not to of just start spend. the will paid well the our

Deepak Mathivanan

Okay. Thanks Ernst.

Operator

Thank you.

or comment next the Walmsley question Lloyd from Bank. Our comes line of from Deutsche

is line open. Your

Lloyd Walmsley

questions, Two can. guys. Thanks, I if

in of First, you that? making what Viator? versus through And of are can done of on kind or terms comments the segment core E&D fully you be impact are TripAdvisor competitive kind And growth of about bookings driving talk might in TripAdvisor you letter tapering? just the the Is bookable? some where

side one in will of then about great. advertiser talk second when hotel the pricing or on trends be And just side that in or both? is the on comment options demand terms you Any you share slower shoppers can consumer

Ernst Teunissen

thank Lloyd, you. Hi Yes.

but growth a Experiences First XX% opportunity very lot impact of currency this strong. a making across growth progressing year restaurant is product all XX%. not know offline on experiences driving supply necessarily longer both and you in but and market And on the marketing the The very platform. was that term We're we're untapped, us investments segment the that E&D for growth side. setting impact for initiatives second year, with huge the the this of pleased quarter revenue that of XX%, was that. up as It may the excluding is was nicely, are

high particularly that half, half impact that in There's it's new this was the built of is comping one year last in trends very the the comping making back restaurant half. in out of some an year Obviously, a we're we couple called this media last restaurant that that that things before our we next and We've major and in but out -- year -- currency. against we're the growth a revenue with is called factor before products year. products also

But also have Experiences explosive we're we which well. for platform growth last on the TA into pretty comping as year

back the long-term able sustainable for a on growth making revenue dial we're to but there's growth of capture growth that huge here as we -- win. from and long-term is see TripAdvisor. this we're you opportunity year, -- We're all to playing believe. everything focused if for that future Not we this investments for we the here optimizing So,

Steve Kaufer

actual a much doing this really When want advance find look on, then, Steve. is we're -- travelers the they go. they job our you the going on what's helping TripAdvisor at And better think there to in we before that things book is

the our improving those -- trip shine are our platform more feel call start well we functionality, can magical on needs be a vacation what will Trip of book package really you part a include advice that trip that has. they just there's building that abilities full part Whether so there. get, Experiences of thinks can so wonderful vital and more include sold to to allows it's together. that you trip We the the us That of a headroom tours, to moments that. We're is lot that or consider and that

Ernst Teunissen

question we're side. seeing the about option, that To consumer are your Lloyd trends second meta hotel the on the

marketing on we're those some We've the SEO So, seen we in paid the saw that made less on And and in demand we're our the we aggressively paid slower the in. supplier on side, search consistency obviously fewer bidding behavior of we've seen customers because getting slowdown. partners. bidding side, terms, comments

Lloyd Walmsley

All Thank right. you.

Operator

you. Thank

the from Our line line Mike next comment of of from Jaffray. comes Piper question or Olson

is line open. Your

Mike Olson

and for Good or that aggressive segment, is And I any if margin said investment pushing the to evidence activities the would really case, anything morning. segment. Other Dining you're about more, still with in that HM&P. Thanks. & than not that in that's have realized more challenging? a you're the make more at profile and believe that Experiences getting in category, more similar past I in the that's long-term or more think believe just to continued you've this also in more space competition point? wondering the continue you then, Do talk segment can Experiences structural you there seeing the growth

Steve Kaufer

we really experiences question. Thanks early. is the the in We in Mike. the This beginning. a huge. that, overall really Steve. the look focus – The is coming is got is Hi, it's market new online. for at demand category This The huge way

still of portion offline, we more other of number in a as need majority of than someone also that of different going space. truly up We activities. online offline in our in invest it huge pre-trip and or the will areas all We're to that to pre-purchase online fair best capture the marketplace. for some share in pre-trip to doing in in migrate believe, on phase, everything our app buy others our order a players all is are migrate vast, destination But will and of the the that the or vast walks the something. offline of have We

We our in be and the have plenty category. supply, all it a our be fully there all well the to of traffic, to game multiple same on of this booking phenomenal between between is opportunity We opportunity winners think works. competitors there's expect extremely so beauty would platform plan advantage great between do now frictionless traffic gives us the we for

To believe we're do we your margins evolved to not the second category but this going business, for be question have margin like end hotel in on that up profile margins looking the do too to. specific,

the we for very consolidate and ton feel for supply. our that And have And network makes a we so effects. a it's with demand of huge portion marketplace of the the opportunity natural great a to business already

Mike Olson

you. Thank

Operator

Thank you.

Our Naved the SunTrust. next or comment question comes from of line Khan from

open. line Your is

Naved Khan

Yeah. lot. Thanks a

going is of limited commentary on And if just Experiences? headwinds advertising the maybe side, you're based SEO talked on like, – the that the the is something cuts as QX you also for on Can the or seeing the look seems to just at that are you about sub-segment hotel hotel of questions, on that Another side, SEO couple clarify Hotel's you're XXXX. I it in the just us? comp then just headwinds,

that? that that maybe seeing right to even way What's of think stabilize So sentiment this or kind start – positive? when expect should about to we is the

Steve Kaufer

units first everything is of we and a This TripAdvisor the and do. and and the SEO with way traffic it's take to Naved. Steve. all of Thanks, context, start let's for SEO great I'll a lot Sure. related we business the question for discover our of in gain travelers course

we and an more effect and travel of search more and of bit is headwind There the space a hotel moving into Google that's engines out. other a called

if TripAdvisor. you customer it units, of rest that And course of behavior how at positive point then to we hits but our into long-term the we're on Of drive loyal this finds the otherwise we're able to want some doing look continue us, to all the our of them traffic go at how business base. we educate overall can initiatives of

Ernst Teunissen

To a yeah, HM&P been point Naved, year. XXXX about future, -- year question profit the second your this we've focused We've profits growth the to significant and your in talking been is obviously driving.

in line. have XXXX our some performance and QX QX our helping We're marketing improvements benefit made happy and start diminishing to ability our but throughout lapping We our and returns a it's marketing. paid into progressively now and We're returns. revenue flat start We're again on there. grow that it on in should acquiring benefit

of fully focusing that start in again. on growth position to lap will paid and QX we'll be have in in channels So XXXX, marketing our we a

segment. and that QX into are out we're -- go in the growth called we expecting growth anticipating to from So XXXX segment to we've for

Naved Khan

Okay.

quick clarification that. a on Just

about the the if like on have large that that how what rates seeing for quarter April. us or seems on growth driven. OTAs, like at It businesses are their month room auctions weakness advertiser you the out give earnings the double think the to of some end? more spoke two rates room It least been on digits. and might color you based be Can in seems you just the in your I seeing on results seems call, of own persisted, more last evolved

trends So and have what on are since you year end April? seeing those improved

Ernst Teunissen

hand an plus we us event. more from challenges on QX, on not wasn't Naved. marketing there, been side, Steve What has one efficiency the and which an impacting advertiser called SEO back is the impact Yeah, demand talked increasing is pulling our driven about. perspective It and about that out the just

end return are of lap lot And segment we year. going throughout us to a the for rest by as to we changes see responded, And growth the year. those of just the through I of the so the

Naved Khan

Thank you.

Operator

you. Thank

Mark or question next of Mahaney the Capital line from RBC Our comes comment Markets. line of of

open. is line Your

Unidentified Analyst

could Thank trends. more anticipated will than on that softer trends? Great. demand you. be questions. great? letter the You about A One, please were comment bit talk mentioned in you few little they that demand A

your loyal Second, membership base. on and customer

is that interesting. very So

engaged that you ability the average and to of well to in the some to of you're shared an keep frequency them some the around metrics about more as you take Could in You get order rest what for doing as order generate user. revenue may talk members, than taken more and the year? more initiatives have

could QX finally growth then giving then the segment, we how in being thank you on And you're than think of on about well in you EBITDA thinking the Thank half sharing growth as for acceleration that EBITDA the segment investing back But talk how as rate -- some QX you and about color in invest? should Experiences double-digit you. XX%. back half as over less on

Steve Kaufer

app, them the and middle that saving process look want another site a Sure. at at When might our This use highly make to somebody of finish review. we the relevant of customize is return have things the it explore sign activity. our a encourage to up, a bit Thanks to they adjacent in already in in looking information, that take take. is question. platform what for our It the membership, either might were to and booking them have the ability notifications be to that couple to trip push We them the then look the customer to then or CRM they to Steve. for we invest

that starting have private an someone wonderful road. to a You a attraction, a to it's down tour. or do add hotel, There's we'll can imagine opportunity going the upsell when thing a on great opportunities flight there's a

for we've rate address, us when so we to been want people just sending them that on more sure working to making know We messages the that relevant. one highly that we're is give and IP that Job they name to site, than we the can are sure about their recommendations. come make

all quarters we've more is past -- we're share have each of growth quarter membership for activity consecutive new That can we're growth growth members that of proposition been the the what add with year-on-year how to seen and membership of and year. -- for on combine and our numbers, members a our value four the -- wonderful you happy rest the the many in you soliciting drives we

with them back That's we trips. relationship have aspect more set members a we'll just from help one using their also letting many indication us framed of all That's a much more how of of gets the million demand get use year are who because XXX or direct to coming going so from the meaningful monthly a forward. members one how now a of in more us question

Ernst Teunissen

question EBITDA Experiences is Dining making in the funded coming is year investments side. year-over-year segment To the year by hotel improvements future. for down in This EBITDA your about EBITDA trends, is on & we're a second a the significant which obviously this fortunately which this in

said and be to We in lower that although segment. segment, for will the maintain be the year for we we EBITDA forecast before the positive

going expect you're additional the second see so to quarter this additional -- investment into segment. And in

Unidentified Analyst

Thanks. that's and be you, demand on Thank trends And will Steve then for great Ernst. and it me. that

Steve Kaufer

be Look much membership -- another download, that covered demand I And talk about working we aspect I trends. about talked some we're of but didn't how on. already then app that the will

to in We have to seen control. be order in some more move this our nice demand results

a at of listen when a moment. in – comments. good reasonably of companies' If kind see the little There's environment we number different look to, you're travel it's seeing there a when referring confusion industry, the kind other there, signals but -- to we of, demand we overall we're travel out out

unique plus a not or we're prepared for minus calling out not commenting us. travel anything a that's our remarks, or big in big causing particularly we're in So

environment happy putting on we're we're with and So we the think journey. well overall executing our and

Unidentified Analyst

you, Okay. Steve. helpful. That's Thank

Operator

Thank you.

line next James. Patterson or question of Raymond the from from Our comment Justin comes

is open. line Your

Justin Patterson

you. you How I build to play indexed to a out second. the want I ramp wanted should I and revenue go and agree as investment picture this Thank on peers. Great. force advocate the tech one, infrastructure I And versus platform ad under devil's you're the opportunity. can. back media we new big if think ad to through initiative? another sales for

more think those of on a you However, it's on also to focused Thanks. potential how hear and that about travel that you curious you're think either through vertical-focused how true more in lot it's peers nature, whereas monetization? horizontal ceilings

Steve Kaufer

Sure. question. Thanks, love Justin. the I

enough fortunate business build product $XXX of this, just tech we're licensing we So able where not were to because we to that ad just extend to clients and It some on million-plus targeting already builds. lift for includes to a then have some to programmatic big built level resources phrase side have it do on area, the it buys don't have offering. But I make wouldn't particularly internally fast-growing a multi-year some as video, we units buy shift and we and additional easier over. need it the

there. would say, tech small I So, lift

sales force already we're side, On the very global.

Of course, haven't reach on historically of add our but clients we as advertising we sets that different folks that demographic need more site, love the to we represent. some been into

covered well we're pretty outside lot there's feel So a like of travel with endemic. audience opportunity probably targeting. We of in

do pretty the it As that evidenced other there out many well. companies by

nature we mode That's many as advantage our good moved at many not site research purely But for of the and the others. to categories buy our ready of just go. that funnel aspect taking a are transaction all go of We the they anything. so in of people TripAdvisor to a into being beautiful and that pretty are vertical are obviously we

consumer how That's That's influence do. we that stuff So media different a or tour. to opportunity a buy, And for to ready the transaction ability another? private not should folks do that OTA. in monetize of on direction one all to really that's they help to not off click the the educate aren't an a a a

in influence of ton the a have category. we So

information, the have we their We better overall general looking for hope who that we something can is helpful. those was And for can traffic the get of I folks about, do targeting. are, more a that trip. ton around

Justin Patterson

very That Thank helpful. was you, Steve.

Operator

you. Thank

Oppenheimer. Our next question of Kelly line Jed the or comment from comes from

Your line open. is

Jed Kelly

message you quarter? update for more then on Can brand are taking percentage Great. campaign, many can one can, amount key you this the I my on around MAUs the to just if on television And way then Thanks can question. how new of KPIs members? or is going give just And opportunity spent membership us what the any terms the converting you be? you any to speak some in of provide

Steve Kaufer

question. it say messaging to brand the details Thanks in in part most launch it's will the for be be the not players versus we're this because I I'd I that travel provide. really that and evolving the But can't can value aspects share other part, proposition unique at can of you point. relatively the are set likely focused tell what TripAdvisor to on of ready

the lot in many done have a markets, We so different we value irreplaceable we our research awareness and travelers. to the of provide on travelers, that have

brand campaign, media. the that in ways and variety expect of will unique across we So compelling delivered wide a highlight

Ernst Teunissen

terms all it the very year it. our these almost that changes not In million spend the as spend same does on our before. increasing thinking the advertising, mean really this about first quarter, budgets which brand With brand comparable that for half the $XX and we’re spent we makes we're of

all following it within shouldn't our spend incremental in be So existing even this We're the year. now doing budget. or

Jed Kelly

we new this should quarter? to television And see the expect commercials

Steve Kaufer

No.

media do up. that begins next You going host probably would your far back because and we to as maybe help and have it us. that to the want later believe wouldn't the phrase be is I as a for out year we What -- set the year for television closer available advertising branding of And in really there's rolls will just expectations. opportunities that different early. next I would effort -- year, too the

Jed Kelly

you. Thank

Operator

Thank you.

-- we Evercore from have line or comment question Our ISI. Lee comes of from the Horowitz next

line is open. Your

Lee Horowitz

the And I been travel headwinds wondering, in just business wanted I taking Google in products more more bit what moving dig SEO way? quarter Obviously, guys had for a called or Thanks on warranted to little that has you into the impact a about. was a that long your this now. a different question. be Great. meaningful may aggressively headwind time on in for

Steve Kaufer

Sure.

We up. SEO what handful back for can entirely actually frankly a appropriate do about So the that times, usual, been focused on I've on did grew was a pushing few XXXX. their into while. hotel think by products. it. to a they in we on traffic already which this initiatives, getting -- harder own be lot it's is looking quarter things but it more due And way Google many That This which mentioned for counter regulators but we're to working the we've covered of a we a bit front, some hurt of to we've past than practice,

the Google love and the building and initiatives the a with in have as tighter us -- all engine we've pointed app sorts the usage, social So growth, search These drive we remarks, the we horizon own direct in to more we consumer enable of the new we're well, been branding way. while stronger implementing prepared love traffic that that looking relationship deep traffic, that relationship to we member all a as while that relationship on travelers, are things look out campaign.

Lee Horowitz

Great. Thanks for the time.

Operator

you. Thank

line of Securities. James the from Lee of or Mizuho Our next comment question comes

is open. line Your

James Lee

here. couple Yes, of thanks questions. my questions taking for A

trends deeper growing. in mentioned the the the second will quarter dig half be the quarter kind Just you growth here. of half business hotel bit little want third a second implying media and in about you're expecting Last for to

you to result for more revenues weak, maybe to see down internal I due wonder marketing it external changed. more is travel is the Is as coming or overall of it has cut down? expenses want environment to what you demand where a where due decision

And the that you space. this the talking and know a products going differentiated you in the it's feel feed hotel should is that news the that put secondly was digital about confident and quarters? advertising business the competitive include pretty advertising guys you rate media growth coming up last are product over of been I we've on wondering obviously product what think also does And new confident how I'm And Thanks. couple we XXXX? to for about sure

Ernst Teunissen

I'll part the of start with question. the first

major growth the been a this impacted a on which optimize impact throughout as by first growth those has year abate Media end in quarter. rates been and marketing So, & business year we've the will been that our decision by lapping start believe as fully calling expenditure the been to and out Hotels, in has year of our to has in we the Platform the

So, from that we're expecting improvement.

for We quarter then seeing up period segment well in growth we're to the for the that first return beyond. first set time are in the and

You second? want to take the

Steve Kaufer

in rocket most not we to this own of data data conjunction programmatic that specific audience, us Yes past. I allowing and our might want enhanced access advertisers in actually some is buy they that mentioned so for this of units, better the that with other just segmentation it in, an the media invested -- science. growth opportunity and just as understanding or call which I've area argue, the more have new I'll It's ad specific video audience to not

so seen a level of And results, with some focus, rolled of new products. couple already additional we've modest out already a

or a a there's a lot ad there category in both are and untapped mentioned then to sponsor dialers of in or endemic And are open now, travel opportunity. location. location beta be sponsor products other wide just a discovery the media some able that We of

we a for particularly nice our buy an a compelling at extremely scale ton have a brand but massive opportunity, with Of looking we course, folks ad global and audience few a environment. of that competition have unique makes to that first data safe party for us quite

James Lee

for Great. and business on hotel for growth Any commentary media rate XXXX?

Ernst Teunissen

you sorry? Sorry, repeat can the question,

James Lee

for growth rate the XXXX? business media the revenue hotel Yeah. for Any on commentary and

Ernst Teunissen

Yeah.

we expecting and to there, around various more obviously said, the which field the marketing years. we efficiencies, highlighted we that return at come. a five As the little we least as believe do as the We specific ambition next quarters can space, to have return have early we'll takes growth in to more that, are the to the or puts be level the well playing we to a media double in three in than and

James Lee

Okay. Thank you.

Operator

Thank you.

Our Company. Kopelman next comes from or Cowen the line of & comment from question Kevin

open. Your line is

Kevin Kopelman

Thanks HM&P follow-up revenue a on a had lot. I the just guide.

like second revenue down was was And the looks that the currency. X% the grow year-over-year fourth quarter. expecting ex So quarter down, in to it you're

it you interim, how HM&P? So Thanks. QX, better similar you than think for in of or about it talk looking worse see in making or is quarter you it will full can QX? – the the Do – headwinds QX will be SEO it

Steve Kaufer

not putting will still point still marketing quarter too fine slowing of on have recovery in revenue profitability, a lower will which great we'll it's which growth. for the expense, be be We're it. significantly a but QX

which So can we in meaningful lap see where a start of growth. out why will more that's performance marketing moment and we experience to be QX as the another of the we the quarter Really the segment that. in come call QX, QX

Kevin Kopelman

TripAdvisor by side much quarter fourth in then growth really – QX helpful. that And really the is display that what and also across to rated the segment? there on it the the and is hotels? display That's confidence of for anticipate the driven great. Okay, versus you how And returning the

Steve Kaufer

in It's more expect positive on combination in exciting and the side the QX. increased but a and also in things we QX lapping we into Yeah. will from see, performances impact have works we that media some that the of the marketing

Kevin Kopelman

XXXX the and follow-up. – And headwinds. revenue one you talked the Great. maybe down start kind before quick of to was second would happen? of Have or other It would exacerbating ever just be that mid-quarter I've seen year like SEO kind expect just or that quarter. first sounds SEO Okay. driven about

Steve Kaufer

decelerate growth for But been rates this We've – for is they trend our to take that how and years. continually on how several years, back kind The been control continues move that word, help we can encourage back control come so going perhaps relationship of the we to us? bad this customer into customer seen that of travel. a notion over Google talking the comes with to as a I've that's about while quite

our the and to repeat our membership with improved monetization, rate, the And as published in remarks improved becomes the TripAdvisor. mentioned growth improved loyalty we in

excited we're growth the membership in our So particularly about numbers.

address more in store, us helps of the a and expect should around number business. the other that that from concerns You

Operator

you. Thank

from from of comment Our Jefferies. Brent the comes next Thill line question or

Your line open. is

Stan Velikov

was morning. the channels? Is Brent. from helping is you taking shifting I question. it it’s my traffic direct brand you to think for Good your Thank paid more I more platform, incremental spend. or from what Stan to for This know so about just far drive wondering

Steve Kaufer

of branding blessed us Thanks much traffic with in in for points-of-sale our our additional our but tend drive hard behavior already and markets. so of to to different that, to the we're we many little campaigns purpose question. the because It's some so the hard really of It's -- know getting are we audience, campaign pure for know larger a us. be the who to people was knew

TripAdvisor. we've seen in so And section things on do to consistent improvement our on conversion

campaign. to going be is that brand the of Some

point-of-sale. be better to supply we TripAdvisor differences going out is implementations, teasing been the but that converted are, have of brand know the better on the campaigns the helping Some site,

Stan Velikov

you And markets to Can I Any us question. out? one got regions some more specific international give go color trends? it. on or

Ernst Teunissen

uniform we We called at some across see globe this point. converge. that out pretty Nothing highlight particularly Europe in really in at this to the past the has started point. to saw We trends that softness

are world. particular all the see we don't see we and markets So the across in all actually deploying our from a currently initiatives that the upside area we

Stan Velikov

much. very you Thank Great.

Operator

at in Steve no CEO, queue showing additional conference remarks. like the closing time. the to I'm turn any this Kaufer you. to over for Thank questions back I'd

Steve Kaufer

joining thank deliver make TripAdvisor to every we tirelessly because want community will stay global want day you better and you partners. travel world. you for work our the our I experience the Well, everyone In also to the you closing, thank to to call. I products Great. thank great help

to We deliver that offerings to business. will continue your you drive enable

TripAdvisor to finally group thank I And around the want of world. all the media and employees

everyone forward look to a Thank exciting quarter. And updating lot have next We ahead. you. I of work

Operator

in Ladies concludes conference. and gentlemen, This thank you the participating for today's program.

day. a now Everyone have may You disconnect. wonderful

Tripadvisor (TRIP) 8 Aug 192019 Q2 Earnings call transcript