Tripadvisor Agrees to Sell TheFork to American Express for $700 Million
The all-cash sale would give Tripadvisor greater capital-allocation flexibility as it concentrates on travel experiences.
Tripadvisor Inc. (TRIP) agreed to sell TheFork to American Express Travel Related Services Company, Inc. for $700 million in cash, advancing a portfolio overhaul centered on the travel-experiences business. The all-cash transaction is expected to be completed by the end of 2026.
The definitive agreement followed a put-option arrangement announced in June and Tripadvisor’s February decision to explore strategic alternatives for TheFork. The earlier arrangement also valued the European restaurant-reservation platform at $700 million and contemplated a closing before year-end.
The divestiture would unlock value and give the company more flexibility to direct capital toward experiences, which it described as the largest and most durable growth category in travel. “The sale of TheFork unlocks significant value, adds flexibility for capital allocation, and marks another step reshaping the Company around experiences – the largest, most durable growth category in travel,” Chief Executive Matt Goldberg said.
TheFork operates an online restaurant-reservation and management platform in Europe, connecting diners with restaurants while providing booking and operational tools to merchants. Tripadvisor had built the business over more than a decade, establishing it as a leading European dining platform. TheFork generated $232 million of revenue and $28 million of adjusted earnings before interest, taxes, depreciation and amortization during the 12 months through the first quarter of 2026.
The transaction was expected to carry minimal tax costs, leaving net proceeds close to the gross purchase price. Potential uses included share repurchases, debt repayment and acquisitions within the experiences category, alongside continued investment in the company’s existing experiences operations. The companies also identified opportunities to expand their commercial relationship across dining, travel and experiences.
Completion remains subject to customary closing requirements, including regulatory approvals and applicable labor-consultation procedures. The separation will require Tripadvisor to disentangle technology, data and platform operations shared with TheFork, making execution through the expected year-end closing an important step in the company’s shift toward experiences.