Tripadvisor to Sell TheFork to American Express for $700 Million Cash
TRIP•Tripadvisor has agreed to sell its European restaurant reservation platform TheFork to American Express for $700 million in cash, on closing expected by year-end 2026. TheFork generated $232 million in trailing-12-month revenue and $28 million of adjusted EBITDA, allowing Tripadvisor to reinvest proceeds into its Experiences business.
1. Agreement Details
Tripadvisor has entered a put option agreement to sell TheFork to American Express for $700 million in an all-cash transaction. The put option mechanism follows Tripadvisor's strategic review announced in February 2026.
2. Financial Profile of TheFork
As of the first quarter of 2026, TheFork delivered $232 million in trailing-12-month revenue and $28 million in adjusted EBITDA, reflecting more than a decade of growth in European dining reservations.
3. Strategic Rationale
The divestiture enables Tripadvisor to sharpen its focus on its Experiences segment by reallocating capital and management resources toward travel and activity bookings. It underscores the value created across Tripadvisor’s portfolio and its commitment to core operations.
4. Closing Conditions and Use of Proceeds
Subject to employee works council consultation and regulatory approvals, the transaction is expected to close by end-2026. Proceeds are anticipated to fund share repurchases, debt reduction, or further investments in the Experiences business.
