TripAdvisor Gains On Hope for a Surge In Travel

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TripAdvisor Gains On Hope for a Surge In Travel
Credit: © Reuters.

By Dhirendra Tripathi – TripAdvisor (NASDAQ: TRIP ) shares rose 5% on Thursday on growing optimism that people will look to travel now after a year of restricted living.

Tourism is seen amongst the biggest beneficiaries of opening up economies as people break free after a year of staying home, a life forced on them by the pandemic.

Already, at places where people are allowed to travel and congregate, rentals have moved up as hordes move to unshackle themselves.

The online travel platform provides a gamut of services ranging from flight and hotel bookings to restaurant reservations.

The company is now preparing for the post-Covid world. Wednesday, it announced a tie-up with Reckitt Benckiser Group PLC (LON: RB ) which will see the travel firm market the Lysol-maker’s solutions to its clients. The new Lysol partnership will be rolled out immediately in the U.S., with plans for it to be extended globally in the coming months.

Tuesday, the company said it will raise $300 million via convertible notes, due 2026, with an option for subscribers to purchase an additional $45 million within 13 days.

According to its own survey released last week, half of U.S. respondents are planning a trip this spring (March 1 through May 31).

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