Tripadvisor operates a portfolio of three online travel platforms. Viator is a marketplace where travelers discover and book tours, activities, and attractions globally, and is Tripadvisor's primary growth engine. The flagship Tripadvisor platform hosts over one billion user-generated reviews covering hotels, restaurants, and experiences, attracting hundreds of millions of visitors annually; it monetizes via hotel metasearch (charging OTA and hotel partners on a CPC/CPA basis when users click through) and media advertising, though this legacy business is in structural decline as Google captures an increasing share of travel search traffic. TheFork is an online restaurant reservation marketplace across 11 European countries, earning per-seated-diner transaction fees and subscription fees from restaurants using its reservation management software; Tripadvisor is exploring a sale of TheFork given limited strategic fit. Viator and the Tripadvisor platform share a centralized supply catalog of over 425,000 bookable experiences from 70,000 operators globally. Viator takes a commission in the mid-20% range on completed bookings and acquires customers primarily through paid search, with repeat users increasingly returning via the app at lower acquisition cost — making repeat cohort growth the primary driver of margin expansion. The company's strategy is to invest in Experiences, manage Hotels and Other for cash, and expand Viator geographically into Europe, where Tripadvisor's brand awareness is high but monetization of experiences has been limited.