Investor Palliser Pressures TripAdvisor to Spin Off or Sell Viator

TripAdvisor is under pressure from the UK-based investment firm Palliser Capital. The firm urges TripAdvisor to consider spinning off or selling its experiences platform, Viator.  

Palliser argues that TripAdvisor’s core, slower-growing business is weighing down the valuation of Viator, its strongest-performing segment.

The firm has proposed that TripAdvisor establish a strategic committee to explore alternatives, including sharpening its focus on high-growth brands (Viator and TheFork), reevaluating management incentives, and reassessing capital allocation strategies.

According to Palliser’s estimates, Viator alone could be worth up to $2.5 billion if operated independently, and the entire company could reach a valuation of $3.7 billion. Currently, TripAdvisor’s total valuation is below $2 billion.

TripAdvisor claims to be open to constructive dialogue with shareholders.

This push from Palliser comes more than a month after Starboard Value acquired a 9 percent stake in early July, accelerating scrutiny of TripAdvisor’s overall strategic direction.