TripAdvisor, Inc. (TRIP - Free Report) users have some good news in the offing. The company has added another food-delivery service, delivery.com, to its offerings.
The world's largest travel site, TripAdvisor announced that it has entered into a partnership with delivery.com to incorporate food-ordering service into its restaurant listings. The terms of the deal have not yet been disclosed.
The tie-up will help travelers order meals from the restaurants directly from TripAdvisor's desktop or mobile platform.
Coming to share price, the stock has outperformed the industry it belongs to over the past year. It has gained 63.46% compared with the industry’s rally of 38.56%.
Headquartered in New York, delivery.com is an on-demand platform for food delivery. Reportedly, it works with approximately 12,000 restaurant partners across the United States.
More About the Partnership
Per the partnership, TripAdvisor will integrate the online food-ordering company’s network of 12,000 restaurants into its desktop as well as mobile platform.
Following the deal, users can scroll through TripAdvisor restaurant listings and order food from delivery.com restaurant partners by clicking the Order Online button.
Evan Becker, Head of Restaurant Commerce at TripAdvisor, said “With millions of hungry diners coming to TripAdvisor each month, we are constantly striving to make it as easy as possible for them to find and eat the perfect meal — whether at home or on-the-go."
Last year, the company partnered with London-based startup, Deliveroo, to expand its offerings and boost conversion rates. The recent deal will help TripAdvisor further expand its user base.
With millennials becoming more concerned about convenience and seeking speedier options, enhancing delivery has become crucial for quick-service industry players.
Per market research firm The NPD Group, delivery currently represents 1.7 billion foodservice visits annually and young adults are its heaviest users, representing 56% of foodservice delivery orders.
We believe TripAdvisor’s constant efforts to enhance offerings through partnerships, inventive restaurant technology, user-friendly platforms and an enhanced delivery system will help it to reach out to more customers.
Zacks Rank and Other Key Picks
Currently, TripAdvisor carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the same industry include Groupon (GRPN - Free Report) , PetMed Express and Expedia (EXPE - Free Report) . While Groupon sports a Zacks Rank #1 (Strong Buy), PetMed and Expedia both carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Groupon, PetMed and Expedia is currently projected to be 6.5%, 10% and 14.5%, respectively.
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