Tripadvisor Stock Surges. Why Starboard Stake Is Good for the Travel Sector.

Tripadvisor stock surged 8% Wednesday, moving into positive territory for the year. (Photograph by Andrew Harrer/Bloomberg)

Tripadvisor stock surged in early trading Thursday, on course for a second day of big gains following a report that activist investor Starboard Value has taken a stake of more than 9% in the travel review company.

The investment is worth around $160 million, as of Wednesday’s closing prices, and comes after the travel company rejected several takeover offers in the past year, The Wall Street Journal reported. Tripadvisor and Starboard did not immediately respond to a request for comment Thursday.

Shares of Tripadvisor, which had a market capitalization of just below $2 billion as of the previous close, jumped 11% early trading after rallying 8.1% Wednesday. Coming into trading, the stock was down 15% over the past 12 months.

However, the company’s shares are now up 1.5% in 2025 through Wednesday’s close, joining its larger rivals Airbnb and Booking Holdings in positive territory for the year. Online travel agent Expedia, however, is down 8% this year.

It has been a tumultuous year for travel stocks, which were hit hard at times in the first half due to the macro uncertainty stemming from President Donald Trump’s tariffs agenda. But the sector has recovered strongly from its lows in April.

While the activist investor’s plans aren’t yet clear, Starboard’s confidence in Tripadvisor could be a sign that the sector’s comeback can continue in the second half.

Write to Callum Keown at callum.keown@dowjones.com