Tripadvisor Sells TheFork for $700M as Experiences Take Priority

Tripadvisor has just agreed to sell TheFork to American Express for $700 million in cash.

TheFork is a European restaurant booking platform that lets diners reserve tables online and helps restaurants manage reservations.

The deal is a major portfolio move for Tripadvisor. The company is keeping its travel review, planning, and experiences businesses, but it is letting go of a dining platform that no longer fits as clearly with its main strategy.

The sale is not completed yet. Because TheFork is based in France, Tripadvisor must first complete employee consultation steps. The transaction also needs regulatory approvals. The companies expect it to close before the end of 2026.

TheFork was strong, but it needed a better owner

TheFork was not sold because it was weak. The platform works with more than 50,000 restaurants across 11 European countries. In the 12 months ending March 31, 2026, it generated $232 million in revenue.

Still, restaurant reservations and travel activities are different businesses. TheFork needs deep restaurant relationships, local market coverage, and tools for dining operators. Tripadvisor’s bigger growth push is now centered on Viator, which sells tours, attractions, transfers, and other bookable activities.

That made TheFork a valuable asset, but not the cleanest fit inside Tripadvisor.

Investor pressure helped push TheFork toward a sale

Investor pressure also shaped the timing of the sale. Tripadvisor had been under pressure from activist investor Starboard Value, which pushed the company to review its structure and unlock more value from its portfolio. Tripadvisor later reached a cooperation agreement with Starboard, adding two independent directors to its board and opening the door for two more appointments at the 2026 annual meeting. The TheFork deal now looks like one of the clearest results of that pressure, as Tripadvisor moves to simplify the business and focus more directly on Viator and experiences.

Viator stays at the center of Tripadvisor’s next phase

Tripadvisor is now putting more attention on experiences. This includes things travelers book after choosing a destination, such as guided tours, museum tickets, day trips, food tours, and local activities.

Viator gives Tripadvisor a stronger position in this market. In the first quarter of 2026, Tripadvisor’s Experiences segment generated $167.9 million in revenue, up 8 percent year over year. Experience bookings also grew 11 percent.

The business is still costly to scale. Tripadvisor reported a $19.2 million adjusted EBITDA loss in Experiences during the quarter, partly because it continues to spend on marketing and marketplace growth. The TheFork sale gives the company more financial flexibility while making its strategy easier to explain.

American Express expands from payments into dining access

For American Express, TheFork adds restaurant supply in Europe. Amex already owns Resy and Tock, two platforms connected to restaurant reservations and dining experiences. TheFork expands that network with thousands of European restaurant partners.

After the deal, American Express said its dining network would reach about 75,000 bookable venues. Amex does not only compete through payments. It also uses travel perks, restaurant access, rewards, and premium services to keep card members engaged.

TheFork is expected to continue operating under its current leadership after the acquisition. That suggests American Express wants to keep the platform’s local restaurant relationships, not just absorb the technology.

TheFork sale extends Tripadvisor’s Viator restructuring

TheFork sale also fits Tripadvisor’s broader restructuring around Viator. Tripadvisor had already moved to bring Viator closer to its core operations as part of a wider plan to simplify the company and improve profitability.