China based online travel giant Trip.com plans to offload some of its stake in Tripadvisor. It currently holds 6.95 million shares of Tripadvisor and the sell-off will take place in phases during 2021. It has reportedly already sold about 20% of them.
The companies have a joint venture agreement which will be strengthened despite Trip.com diluting its shareholding. Trip.com and Tripadvisor agreed to expand the partnership to include the subscription service Tripadvisor Plus.
Trip.com will initially offer preferential pricing on at least 10,000 properties in the Tripadvisor Plus offering.
