• TripAdvisor has a unique online travel presence, by far the biggest in the world.
• The main problem is the shift from an ad based revenue model to a transaction based model, requiring substantial investments that have not yet paid off.
• But at a minimum, the required investments should decline.
• And the company is financially healthy and profitable and the platform itself is unique, if the company cannot improve its monetization, someone else will.

Source: Book A Trip With TripAdvisor – TripAdvisor Inc. (NASDAQ:TRIP) | Seeking Alpha