trivago is a hotel and accommodation price comparison platform. Travelers use trivago to search and compare hotel rates across more than 100 booking sites, covering over 7 million properties across 190+ countries, accessible through 53 localized websites and apps. trivago does not charge travelers — its customers are the advertisers (OTAs, hotel chains, and independent hotels) who pay to appear in trivago's search results. The two core monetization models are CPC, where advertisers bid per click, and CPA, where advertisers pay a percentage of completed bookings. CPA has grown to more than 25% of referral revenue. Booking Holdings and Expedia Group together account for roughly three-quarters of referral revenue, creating meaningful customer concentration. trivago's cost base is heavily weighted toward advertising spend, and management targets a return on advertising spend above 100%. A key business dynamic is that branded traffic — users who arrive directly rather than through paid performance marketing — is more profitable, which is why trivago has been reinvesting in brand advertising since mid-2023, including campaigns featuring brand ambassador Jürgen Klopp across 30+ countries. On the product side, trivago is rolling out AI-powered search and review tools, a logged-in member proposition offering exclusive rates, and "Book & Go," an on-platform booking funnel built on its 2025 acquisition of Holisto, which allows users to book without being redirected to third-party sites. trivago reports revenue across three geographic segments: Americas, Developed Europe, and Rest of World.