"We realized very early that this wouldn't be just a few months, but something that would last longer," said Hefer, adding that firm restructured in April 2020 and reduced its cost base, which he said stabilized the firm and and improved cash flow.
Trivago has functioned primarily as an online hotel booking search tool that compiles rate and other accommodations information from sites like Hotels.com and Priceline, as well as hotels chains and online travel agencies, for comparison shopping by users.But the company announced in April a partnership with TUI Group's Musement division to power a new activities booking feature on its site. The arrangement offers access to 55,000 excursions, activities and attractions to users in the U.S.
"This local travel trend will linger," he said. "In the long term, over five to 10 years, these things tend to even out and go back to normal, but it will take quite some time."
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