Trivago deepens partnership with Holisto while reporting Q2 losses
Summary
Hotel metasearch company Trivago has announced a strategic investment as a new effort to boost conversions on the same day it reported quarterly losses for the second time this year.Trivago announced Tuesday it has invested in artificial intelligence-driven hotel rate aggregator and white-label booking engine provider Holisto, another step in the duos partnership that began in 2022. "Our goal is to provide a more consistent booking experience for our users and help our advertising partners to drive conversions. Their team is leveraging AI to optimize rate exposure and dynamic pricing, delivering tangible value to travelers. Adjusted EBIDTA was reported at a loss of 5.4 million compared with EBIDTA of 12.2 million last year.The second quarter of 2024 demonstrated an improved top line year-over-year trajectory towards growth as the quarterly decline was lower than previous quarters, bringing us closer to our aim of returning to year-over-year top line growth, Trivago said in its earnings report Tuesday ahead of its earnings call scheduled for Wednesday morning.The company continued: We observed revenue growth from our branded traffic channel in all three segments and are pleased with the results from our brand marketing efforts. That said, the company expects its branded channel traffic revenue will help to bolster its results.We remain optimistic that we can return to year-over-year top line growth during the second half of the year by continuing to be disciplined and result-oriented with our marketing investment decisions, Trivago said.Trivagos second quarter earnings come after the company saw a net loss year over year during the first quarter of 2024, compared with a net profit in the first quarter of 2023.After the close of last year, the company said it was counting on its marketing spend to bolster its results.