Tripadvisor has agreed to sell its European restaurant reservation platform theFork to American Express for $700 million in cash, a move that comes just months after the company said it would explore strategic alternatives for the business.
TheFork generated $232 million in last-twelve-month revenue as of Tripadvisor’s first quarter of 2026, with segment adjusted EBITDA of $28 million over the same period. That means the sale price represents about 3.0 times trailing revenue and roughly 25 times trailing segment adjusted EBITDA.
Tripadvisor said it expects the deal to close before the end of 2026, pending labor consultation and regulatory approvals. The company said it expects minimal tax cost from the sale, with net proceeds expected to closely match the gross proceeds.
The company said the cash could be used for share repurchases, debt paydown, or investment in its experiences business. Tripadvisor also said the transaction should give it more flexibility to accelerate its capital return policy and keep a well-capitalized balance sheet.
The sale follows Tripadvisor’s February 2026 announcement that it would review strategic options for theFork. The company said the deal recognizes value built in the business over more than a decade and allows it to focus more fully on experiences. As a result of these announcements, the company's shares have moved 6.73% on the market, and are now trading at a price of $13.245. Check out the company's full 8-K submission here.
