10 Best Travel Stocks To Buy Right Now

8. Tripadvisor, Inc. (NASDAQ:TRIP)

Number of Hedge Fund Holders: 34

Tripadvisor, Inc. (NASDAQ:TRIP) is an online travel company that connects travelers with various travel-related services through its platform. Its platform allows users to book over 350,000 experiences (such as tours and activities) from more than 55,000 operators globally, through its Viator marketplace. Moreover, it also allows users to discover and make reservations at restaurants across 11 countries.

Management has previously noted some softness in its hotel bookings and was expecting third-quarter results accordingly. During the fiscal third quarter of 2024, the company generated $532 million in revenue, which is flat compared to the same quarter last year. As expected, the Brand Tripadvisor revenue declined 12% year-over-year due to challenges in its legacy hotel offerings. However, on the bright side, its Viator and TheFork brands performed well. Viator revenue reached $270 million, reflecting a 10% year-over-year growth, with Gross Booking Value up 9%. While TheFork achieved a record revenue of $49 million, a notable increase of 17% year-over-year.

Management is focusing on transitioning from its legacy offerings to more strategically focused growth areas, particularly in experiences and dining reservations. Moreover, the company is also leveraging generative AI to enhance customer service and improve product recommendations, which has contributed to increased app bookings and user engagement. It is one of the best travel stocks to buy right now.