Tripadvisor’s Outgoing CEO Admits the Big Experiences Bet Fell Short

Tripadvisor reported a rough third quarter alongside a leadership shake-up. CEO Matt Goldberg will leave on February 16, 2027, and chief financial officer Michael Noonan departs on December 31, with Kristen Dalton stepping in as interim CFO. Skift reports that Goldberg acknowledged the company’s push to build up its experiences business had not delivered what it set out to achieve.

The numbers back that up. Experiences revenue slipped 3 percent in the quarter, and adjusted EBITDA fell 27 percent. Total revenue dropped 11 percent to $436.4 million, and the company booked a net loss of $316.9 million. For a brand long known for reviews and hotel comparisons, the experiences segment was supposed to be the growth story that justified a broader identity.

Tripadvisor is now trimming the part of the business it is moving away from. A restructuring will cut jobs tied to its legacy hotel metasearch operation, targeting $40 million in gross annualized savings. Separately, the company plans to use the $685 million it is receiving from selling TheFork to American Express to pay down debt, which gives it some balance-sheet breathing room while the strategy is reset.

For travelers, the immediate effect is likely to be invisible, since the review site itself is not going anywhere. For the industry, it is another sign that reviews-first platforms are struggling to turn audience into bookings at a time when larger booking companies and search engines control more of the funnel. A new chief executive will inherit that question in the new year.

Sources: Skift