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    TRVG   US89686D1054

TRIVAGO N.V.

(TRVG)
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trivago N : SUMMER VACATIONS SIGNAL LONG-TERM SHIFT IN CONSUMER TRAVEL BEHAVIOR

09/14/2020 | 09:01am EDT

Mexico and the Jersey Shore Replace Popular US Destinations Chicago, New Orleans, and Boston

DÜSSELDORF, GERMANY – September 14, 2020 – As the summer of 2020 comes to a close, it is clear that modern travel has been deeply impacted and not for the short term. From where and how we go to how long we stay and in what type of accommodation, the industry is changing and being led by consumer demand and behaviors driven by the pandemic. 

trivago examined its search data globally and found three ways that travel is evolving: timing, distance/type of destination and accommodation.

“As the pandemic continues to affect every facet of our daily lives, the trends we are seeing, like domestic travel, are not a result of short-term reactions, but a shift in consumer behavior that we expect to take hold and influence the future of travel for the long-term,” said Axel Hefer, CEO trivago.  

Spontaneous or Uncertain?
Travelers are planning trips in the “nearer” future indicating uncertainty about the future. In addition, short (less than 3 night) stays are declining, indicating that the effort needed to safely plan for this short of a trip may simply not be worth it.

Search and click-out data indicate that travelers are planning their stays closer to departure than ever before. They are researching trips an average of four days earlier than last year signaling uncertainty about anything too far in the future.

In fact, the majority of click outs (when a user clicks out to a property from the trivago platform) are eight to 28 days before arrival. Advance search and click outs (+41 days) have decreased globally overall and dropped by nearly half in the EU.

Location, Location, Location!
Unsurprisingly, domestic and regional travel have seen an increase year-over-year as a result of travel restrictions and fear of exposure to COVID-19 and becoming ill far from home as well as the potential need to quarantine upon their return. Desired destinations have shifted from urban and international to coastal and suburban or less populated domestic destinations including smaller towns and coastal or beach destinations.

This shift was most marked in the EU with preference jumping 28 percent for domestic destinations year over year. The increase was less significant in the US with a relative increase of five percent, as the US travelers share of click outs to domestic destinations was already quite high last year.  In general, people are staying closer to home.

For example, the most popular destinations for US travelers are in the US or Mexico and at the beach, while 2019 saw London but not Mexico ranked in the top 10. In fact, two cities in Mexico, Cancun and Playa Del Carmen are within the top five cities replacing Chicago and New Orleans, respectively. Most surprising was the appearance of Wildwood, New Jersey replacing Boston in the 10th spot and Fort Lauderdale taking London’s spot at no. 9.

Preference Toward Alternative Accommodation* Continues to Grow
As alternative accommodations have increased in popularity over the years, 2020 has accelerated demand significantly with the need for safe spaces as well as a change of scenery for those in lockdown. With the freedom to learn and work anywhere, consumer interest in alternative accommodations has increased nearly 10 percent year over year and is expected to continue to grow. In comparison, searches and click outs for hotels has decreased by nearly 20 percent.**  Hefer added, “We do expect as travel begins to normalize in the near future, hotel stays will increase again in popularity.”

To learn more, visit trivago.com.

About trivago
trivago is a leading global accommodation search platform focused on reshaping the way travelers search for and compare hotels and alternative accommodations. Incorporated in 2005 in Düsseldorf, Germany, the platform allows travelers to make informed decisions by providing them access to a deep supply of accommodation information and options from hundreds of websites. trivago enables its advertisers to grow their businesses by providing access to a broad audience of travelers via its websites and apps. As of March 31, 2020, trivago has established 54 localized platforms connected to over 4.5 million hotels and alternative accommodations, in over 190 countries

 
Media Contact:
Stephanie Lowenthal
stephanie.lowenthal@trivago.com

Forward looking statements
This press release contains certain forward-looking statements. Words, and variations of words such as "believe," "expect," "plan," "continue," "will," "should," and similar expressions are intended to identify our forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond our control, and important factors that could cause actual events and results to differ materially from those in the forward-looking statements. For additional information factors that could affect our forward-looking statements, see our risk factors, as they may be amended from time to time, set forth in our public filings with the Securities and Exchange Commission. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.

 


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Source: trivago N.V.

2020 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2021 343 M 409 M 409 M
Net income 2021 -10,7 M -12,8 M -12,8 M
Net cash 2021 212 M 253 M 253 M
P/E ratio 2021 -76,4x
Yield 2021 -
Capitalization 1 056 M 1 260 M 1 260 M
EV / Sales 2021 2,46x
EV / Sales 2022 1,38x
Nbr of Employees 834
Free-Float 7,32%
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Number of Analysts 11
Last Close Price 2,96 €
Average target price 2,71 €
Spread / Average Target -8,34%
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Managers and Directors
NameTitle
Axel Hefer CEO, MD-Legal, Marketing, Marketplace & People
Matthias Mauritz Tillmann CFO, MD-Finance & Creative Production
Peter M. Kern Chairman-Supervisory Board
James A. Carter MD, Chief Technology & Product Officer
FrÚdÚric Gabriel Mazzella Independent Member-Supervisory Board
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