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SEC Filings

20-F
TRIVAGO N.V. filed this Form 20-F on 03/06/2018
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We generate the large majority of our revenue from OTAs. Certain brands affiliated as of the date hereof with our majority shareholder, Expedia, including Brand Expedia, Hotels.com, Orbitz, Travelocity, Hotwire, Wotif and ebookers, in the aggregate, accounted for 39%, 36% and 36% of our total revenue for the years ended December 31, 2015, 2016 and 2017, respectively. Booking Holdings and its affiliated brands, Booking.com and, through 2015, Agoda, accounted for 27%, 43% and 44% of our total revenue for the years ended December 31, 2015, 2016 and 2017, respectively.
Nearly all of our agreements with advertisers, including our agreements with our three largest advertisers, may be terminated at will or upon three to seven days’ prior notice by either party. For more information on risks related to the concentration of our revenue and our relationship with our largest advertisers, see "Item 3 D. Risk factors".
Competition
We compete with other advertising channels for hotel advertisers’ marketing spend. These include traditional offline media and online marketing channels. In terms of user traffic, we compete on the basis of the quality of referrals, CPC rates and advertisers’ implied return on investment. While we compete with OTAs, hotel chains and independent hotels for user traffic, these parties also represent the key contributors to our revenue and supply of hotels and other accommodation.
Competition for users
We compete to attract users to our websites and apps to help them research and find hotels. Given our position at the top of the online hotel search funnel, many companies we compete with are also our customers.
Our principal competitors for users include:
Online metasearch and review websites, such as Kayak, Qunar, TripAdvisor and Google Hotel Ads;
Search engines, such as Baidu, Bing, Google and Yahoo!;
Independent hotels and hotel chains, such as Accor, Hilton and Marriott;
OTAs, such as Booking.com, Ctrip and Expedia; and
Alternative accommodation providers, such as Airbnb and HomeAway.
Competition for advertisers
We compete with other advertising channels for hotel advertisers’ marketing spend. These include traditional offline media and online marketing channels. In terms of user traffic, we compete on the basis of the quality of referrals, CPC rates and advertisers’ implied return on investment.
Our principal competitors for advertisers’ marketing spend include:
Print media, such as local newspapers and magazines;
Other traditional media, such as TV and radio;
Search engines, such as Baidu, Bing, Google and Yahoo!;
Online metasearch and review websites, such as Kayak, Qunar, TripAdvisor and Google Hotel Ads;
Social networking services, such as Facebook and Twitter;
Websites offering display advertising;
Email marketing software and tools;
Online video channels, such as YouTube; and
Mobile app marketing.

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