Tripadvisor has agreed to sell its European restaurant reservation platform TheFork to American Express for $700 million in cash, a deal that would give the company a large infusion of proceeds as it sharpens its focus on experiences.
The company said the transaction is expected to close before the end of 2026. It said net proceeds should closely match the gross sale price, with minimal tax cost.
TheFork generated $232 million in revenue over the last 12 months ended in the first quarter of 2026, and segment adjusted EBITDA was $28 million. That implies the business was sold for about 3.0 times trailing revenue and about 25 times trailing adjusted EBITDA.
Tripadvisor said the sale follows its February 2026 decision to explore strategic alternatives for TheFork. The company described the deal as creating flexibility to accelerate capital returns, maintain a well-capitalized balance sheet, and keep investing in its experiences business.
The company said possible uses for the proceeds include share repurchases, debt paydown, or acquisitions in the experiences category. Today the company's shares have moved 4.59% to a price of $12.98. For the full picture, make sure to review TripAdvisor's 8-K report.
