Viator continues to increase its value as a Tripadvisor asset.
In the second quarter, Viator brought in $216 million in revenue, up from $136 million in Q2 2022, and accounted for 43% of Tripadvisor's total revenue.
That's a notable change from one year ago when Viator accounted for 32% of revenue. Prior to Q2 2022, Tripadvisor did not provide a breakdown of revenue for Viator.
In a call with financial analysts Thursday morning to discuss Q2 results, Tripadvisor CEO Matt Goldberg acknowledged Viator is the company's "high-growth business," with gross booking value of $1.1 billion in Q2, up 40% year over year.
Goldberg said much of that growth is coming from repeat bookers, which he said gives them confidence in Viator's "unit economics and margin potential over time."
"We have a tremendous opportunity to drive awareness for the OTA category in experiences and to build our brand alongside it," Goldberg said.
"We believe we can shift travel behavior from an often disjointed booking experience to Viator, a single convenient place to see, sort and book experiences. … Since the launch of our brand advertising last fall we are seeing growth in awareness and related metrics like direct traffic and branded searches that stand as a clear example of our decision to build scale and long-term customer economics despite delayed profitability."
Goldberg also said the Viator will work to enhance the experience for both travelers and operators, with improvements to the mobile app and checkout process in development. Viator president Ben Drew discussed similar ideas when he spoke at Phocuswright Europe in Barcelona in June.
Total revenue for Tripadvisor in the second quarter came in at $494 million, up 18% year over year, and adjusted EBITDA was $90 million, 18% of revenue and down 17% compared with Q2 2022.