Tripadvisor Shares Jump 14% After $700 Million TheFork Sale to American Express 

Tripadvisor just made its biggest strategic call in years. On June 15, 2026, Tripadvisor (NASDAQ: TRIP) announced a definitive agreement to sell TheFork, its leading European online restaurant reservation platform, to American Express (NYSE: AXP) for $700 million in an all-cash transaction. Tripadvisor shares rose 14% immediately after the announcement, as the market rewarded the deal’s clean structure and the company’s sharper strategic focus on its Experiences business.

TRIP shares had traded between $11.64 and $12.94 on June 14, 2026, giving context to the scale of the intraday jump triggered by this announcement. This deal represents a clear pivot, and the market approved immediately. 

The TheFork Deal: What Tripadvisor Is Selling and Why

TheFork is not a struggling asset. It is a profitable, growing one, and that is what makes the $700 million price tag credible.

Here are the key deal metrics:

• Sale price: $700 million all cash, no equity component
• Buyer: American Express (NYSE: AXP)
• TheFork LTM revenue (as of Q1 2026): $232 million
• TheFork adjusted EBITDA (LTM Q1 2026): $28 million
• Revenue multiple implied: Approximately 3.0x trailing revenue
• Expected close: Before the end of 2026, pending regulatory approvals and labor consultations

The agreement follows Tripadvisor’s February 2026 announcement that it would explore strategic alternatives for TheFork, a process that took less than five months to produce a signed deal. Goldman Sachs served as financial advisor to Tripadvisor on the transaction. 

What American Express Gets From TheFork

American Express is acquiring TheFork to strengthen its premium dining and travel offerings. The deal adds a leading restaurant reservation platform across 12 European countries, enhancing Membership Rewards and dining benefits. For AmEx, the $700 million purchase is a targeted, strategic investment relative to its $10.8 billion 2025 net income.

Tripadvisor After the Sale: Sharper, Leaner, Focused

The $700 million proceeds reshape Tripadvisor’s capital position entirely. Potential uses of proceeds include share repurchases, debt paydown, or inorganic investment in the Experiences category, with Tripadvisor anticipating minimal tax cost and net proceeds closely approximating gross proceeds.

The TRIP setup heading into the deal close:

• TRIP 52-week range: $9.01 to $20.16
• TRIP stock before deal (June 14 close): ~$12.41
• Market cap pre-announcement: ~$1.4 billion
• Trailing twelve-month revenue: $1.9 billion; gross margin 92.3%
• Q1 2026 revenue came in at $382.4 million, down 4% year over year, with the hotel segment falling 20% but TheFork delivering 23% growth, ironically the segment now being sold 

Analysts raised their average Tripadvisor price target to $19 from $12, citing governance changes from Starboard Value’s board involvement, TheFork’s crystallized value, and new AI partnerships backed by Tripadvisor’s large proprietary travel data set. 

Conclusion

Tripadvisor’s $700 million TheFork sale to American Express is a textbook asset monetisation move, selling a growing business at a fair price to fund a sharper strategy. With $700 million in cash incoming, a 14% stock jump on June 15, and analysts now targeting $19 per share, Tripadvisor’s Experiences-focused future is better funded than at any point in recent history. The deal also validates American Express’s continued push into premium dining, a segment its cardholders already spend heavily on worldwide.