Report
Dan Wasiolek
EUR 101.80 For Business Accounts Only

Favorable TripAdvisor Traffic Channel Checks Should Soothe Investors' Recent Metasearch Concerns

Metasearch channel uncertainty has increased the past few weeks after TripAdvisor and Trivago lowered 2017 sales guidance. While we maintain our view that competition remains and that online travel agent models (narrow-moat Priceline and Expedia) have higher barriers to entry than metasearch (because the former control hotel relationships), we are encouraged by our checks that point to TripAdvisor gaining industry traffic share, supporting its narrow-moat network advantage and perhaps signaling ...
Underlying
Booking Holdings

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Dan Wasiolek

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