trivago reported a net profit loss of 165 million euros in 2023.
Revenue from Hotel Metasearch Services decreased by 9% year-on-year to 485 million euros in 2022, and in the fourth quarter, it decreased by 13% year-on-year to 92 million euros.
The company, which announced in May that Johannes Thomas will become its new CEO and managing director, posted adjusted EBITDA of 68% in the quarter to 7 million euros, and full-year EBITDA of 50% to 54 million euros. reported.
Referral revenue for the quarter was down 12% to EUR 89 million and for the full year was down 9% to EUR 477 million.
Subscribe to our newsletter below
“In the fourth quarter of 2023, the level of monetization continued to decline compared to the same period last year, when we benefited from strong market auctions and foreign exchange headwinds, which contributed to our financial performance. “The company continued to observe that average bookings normalized toward year-ago levels during the fourth quarter and remained above 2019 levels,” the company said in a statement. Stated. Increasing competition in our performance marketing channels continued to negatively impact our results of operations, resulting in lower traffic volumes, particularly in our developed Europe and Americas segments. These decreases were partially offset by increased traffic in our other regions. ”
The statement added that the company expects to receive high levels of advertising spend from the newly launched advertising campaign.
“As part of our multi-year strategy, we continue to believe that increasing our brand marketing efforts in 2024 and throughout the next few years will have a long-term positive impact on the amount of direct traffic to our platform. I am.”
trivago's sales and marketing spend in the fourth quarter was €64 million, an increase of 4% year-on-year, with 90% coming from advertising spend.
