Tripadvisor (TRIP) Stock: Why The Price Increased Today

  • The stock price of Tripadvisor Inc (NASDAQ: TRIP) increased over 3% pre-market today. This is why it happened.

The stock price of Tripadvisor Inc (NASDAQ: TRIP) increased over 3% pre-market today. This is a continuation of momentum as the stock price is up more than 10% this past week.

Investors are responding positively to Tripadvisor recently announcing it has signed a letter of intent to engage in a promotional collaboration with Atout France, the French tourism development agency leading the country’s post-pandemic travel and hospitality recovery efforts. This deal announcement follows Tripadvisor CEO and co-founder, Stephen Kaufer, meeting in Paris on November 4th with Atout CEO, Caroline Leboucher, during the Destination France Summit hosted by French President Emmanuel Macron. The strategic alliance will allow Atout France to leverage Tripadvisor’s first-party data and reach, which will be instrumental in the promotion of France as a destination.

Atout France – the official national tourism development agency of France – is responsible for promoting the development of the tourism industry, the country’s largest economic sector. And it sets the national strategy for promoting France as a tourist destination, based on guidelines set by the French government, and is supported by a network of more than 400 collaborators in France and abroad, as well as 35 offices in 32 countries.

The deal – which includes a targeted €2 million in exposure and media investment on the Tripadvisor platform – will take the form of targeted advertising and sponsored content aimed at attracting returning international travelers interested in taking a European holiday, utilizing Tripadvisor’s first party data to target those travelers with a high intent to visit France.

KEY QUOTES:

“Collaborating with Tripadvisor will give us unparalleled exposure and international reach to generate demand and excite a global community of travellers to return to France, showcasing our cities and towns so tourists and diners alike may experience our culture, culinary excellence and all the beauty this country offers. With their data and expert consultation, we will better understand and gain access to in-depth insights related to consumer travel behaviour, and Tripadvisor will help us meet our key marketing objectives aimed at attracting more travellers with high intentions of visiting Europe and our country.”

— Caroline Leboucher, CEO of Atout France

“France is one of the most beautiful countries in the world and travelers have always been attracted to its cities and countryside, the Louvre to the Eiffel Tower to its vineyards, its best-in-class restaurants, amazing history and beautiful beach communities. Working with Atout France will help us tell the story of this amazing destination as we work together to capture international travel’s returning demand and encourage travelers to consider this amazing country. This is only the beginning of our partnerships with tourism development agencies like Atout France, as we work with the world to reignite our collective passion for travel, and help build a more sustainable future for the French tourism industry as we, together, encourage more responsible travel practices that protect local communities and our planet.” 

— Stephen Kaufer, CEO and co-founder, Tripadvisor

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.