For over a year, TripAdvisor has been promoting the robustness of its Viator brand, and now the Q4 and full-year financial outcomes for 2022 provide concrete figures to support this claim.
Viator generated $493 million in revenue in 2022, representing a 168% increase from the previous year. Notably, the travel experiences marketplace accounted for 33% of TripAdvisor’s overall revenue, which amounted to nearly $1.5 billion in 2022, up from only 20% in 2021.
Following Matt Goldberg’s appointment as CEO, Tripadvisor now reports revenue and adjusted EBITDA separately for Viator and TheFork, in addition to its “Tripadvisor Core” offerings which include Tripadvisor-branded hotels, display and platform, dining and other services like cruises, rentals, flights, and cars. This new reporting approach was introduced in the Q2 report released in August.
With this full year 2022 filing, it is the first time the company is releasing full year 2021 revenue and adjusted EBITDA for each of those segments.
In Q4 2022, Viator generated $127 million in revenue, a 115% increase compared to the previous year, and contributed to 36% of Tripadvisor’s total quarterly revenue of $354 million. This quarterly revenue increased from $241 million in Q4 2021.
Adjusted EBITDA for Viator was negative $11 million for 2022, an improvement from negative $31 million in 2021. For Q4, Viator’s adjusted EBITDA was negative $3 million, compared to negative $6 million in Q4 2021.
Tripadvisor’s selling and marketing costs were $194 million for the fourth quarter, an increase of 54% year-over-year, and $784 million for the full year 2022, an increase of 67% year-over-year.
“Our results reflect a combination of continued strength in the travel industry, the value our portfolio provides to travelers and partners and the focus of our teams. As we enter 2023, we will continue to leverage these strengths while identifying new opportunities to reinforce and accelerate our performance and drive sustainable profitable growth”, says Matt Goldberg, CEO of Tripadvisor.