NEEDHAM, Mass., April
20, 2018 /PRNewswire/ -- TripAdvisor® today
announced it acquired Bokun, a leading provider of business
management technology for the tours, attractions and experiences
industry. With the acquisition, TripAdvisor expands its
offering, now providing suppliers with technical solutions in
addition to the sector's largest distribution channel.
"As the industry leader, our opportunity in this space is
enormous. We're committed to taking the experiences sector
far beyond its current online penetration of just 20%, and Bokun
will play a critical role in this mission," commented Dermot Halpin, president, TripAdvisor
Experiences and Rentals.
Halpin continued, "This marks a new phase for our business:
we're expanding beyond our core offering as the industry's largest
distribution channel. This product is part of a very bright
future for the industry - one that eliminates fragmentation,
significantly grows and simplifies distribution for suppliers, and
dramatically improves the shopping experience for travelers."
Based in Iceland, Bokun is a
business management software created specifically for tours,
attractions and experiences suppliers: it acts as a booking engine,
an inventory channel manager, a price management tool, and more.
Founded in 2012, Bokun grew quickly to help Icelandic
suppliers capitalize on the country's booming tourism
industry. Bokun's customer base is global, ranging from local
suppliers to Fortune 500 companies.
Bokun offers exceptional value in the market. It currently
offers subscriptions for €100 per month, versus the industry
standard of 5%-6% taken on online bookings. To serve its goal
of bringing the entire experiences category online, TripAdvisor
will make its software product even more accessible with a
near-term move to a fraction of a percent per booking, far under
the industry standard.
Suppliers can sign-up for a free three-month trial on Bokun.
The new pricing structure will be in place before this free
trial ends.
"We're thrilled to join the world's largest attractions, tours
and experiences business," commented Hjalti
Baldursson, CEO and co-founder, Bokun. "TripAdvisor
gives us the opportunity to serve customers in every corner of the
world, and we're excited about the significant growth that's to
come."
Bokun will remain based in Iceland, with immediate plans to expand the
team. Terms of the acquisition will not be disclosed.
About TripAdvisor
TripAdvisor, the world's largest
travel site*, enables travelers to unleash the full potential of
every trip. With over 600 million reviews and opinions covering the
world's largest selection of travel listings worldwide – covering
approximately 7.5 million accommodations, airlines, attractions,
and restaurants -- TripAdvisor provides travelers with the wisdom
of the crowds to help them decide where to stay, how to fly, what
to do and where to eat. TripAdvisor also compares prices from more
than 200 hotel booking sites so travelers can find the lowest price
on the hotel that's right for them. TripAdvisor-branded sites are
available in 49 markets, and are home to the world's largest travel
community of 455 million average monthly unique visitors**, all
looking to get the most out of every trip. TripAdvisor: Know
better. Book better. Go better.
The subsidiaries and affiliates of TripAdvisor, Inc.
(NASDAQ:TRIP) own and operate a portfolio of websites under 20
other travel media brands:
www.airfarewatchdog.com, www.bookingbuddy.com, www.citymaps.com,
www.cruisecritic.com, www.familyvacationcritic.com,
www.flipkey.com, www.thefork.com (including
www.lafourchette.com, www.eltenedor.com, www.iens.nl and
www.dimmi.com.au), www.gateguru.com, www.holidaylettings.co.uk,
www.holidaywatchdog.com, www.housetrip.com, www.jetsetter.com,
www.niumba.com, www.onetime.com, www.oyster.com, www.seatguru.com,
www.smartertravel.com, www.tingo.com,
www.vacationhomerentals.com and www.viator.com.
* Source: comScore Media Metrix for TripAdvisor Sites,
worldwide, October 2017
** Source: TripAdvisor log files, average monthly unique visitors,
Q3 2017
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SOURCE TripAdvisor