Ben Drew broadcasts Viator departure after 12 years at Tripadvisor

After 12 years at Tripadvisor and 4 years as president of Viator, Ben Drew introduced Tuesday he has made the “troublesome resolution” to step down.

“By the 4 hardest years of my profession, I used to be honored to face alongside the staff at Viator,” Drew wrote on LinkedIn, calling his time there “the journey of a lifetime.”

Drew mentioned in his publish that he’s leaving April 12 for a “new alternative in a brand new trade” and would share extra particulars on that quickly.

In his announcement, he pointed to the start of his tenure as president, rooted within the throes of the COVID pandemic and shared a number of the firm’s successes underneath his management.

“We didn’t simply survive – we thrived,” Drew wrote in his publish. “In 2023 we hit $737M in income, rising at 49% YoY, and have become worthwhile. Furthermore, we helped tens of millions of individuals uncover experiences they’ll bear in mind ceaselessly and 1000’s of companies make a dwelling.”

He continued his checklist naming the creation of Speed up, buyer satisfaction charges, the sprucing of vacationers’ experiences from discovery to reserving, partnerships, monetary marks and client model growth as satisfaction factors.

Appreciation for Drew poured in from opponents, colleagues and trade leaders on LinkedIn and past.

Douglas Quinby, co-founder and CEO of Arival, expressed admiration for Drew – notably in the course of the pandemic interval, which successfully shut down the journey trade mere weeks into Drew’s interval as president.

“There have been various in our trade who questioned whether or not Ben was as much as the problem,” mentioned Quinby. “Properly, 4 years later, and Ben has overseen the model throughout a interval of extraordinary restoration and development, and the monetary efficiency of the corporate – 2023 income up greater than 150% over 2019 and approaching full-year profitability – speaks for itself.”

And Tripadvisor CEO Matt Goldberg weighed in on LinkedIn, expressing gratitude for Drew’s contributions throughout his residence on the firm.

“Thanks Ben in your management at Viator during the last 4 years,” wrote Goldberg. “You and your gifted staff have a formidable observe report of success, a well-honed technique for constructing on Viator’s management place in journey’s fastest-growing class, and a powerful plan in place to proceed our momentum. Due to your arduous work, Viator’s future continues to be brilliant.”

Viator confirmed Drew’s announcement and regarded to the long run: “Ben has been an distinctive chief to our staff, our vacationers, our operators, and our companions,” mentioned a Viator spokesperson in an emailed assertion. “We’re rigorously contemplating our resolution on Viator’s subsequent chief.  Within the interim, the enterprise stays within the protected arms of our very succesful and tenured administration staff.”

Departure comes on heels of sale hypothesis

Notably, Drew’s discover of resignation comes months after hypothesis began to swirl across the sale of Tripadvisor forward of the corporate’s February earnings name. Goldberg was requested by an analyst how the potential sale may influence “the potential spinoff” of Viator – on the time, he mentioned it wasn’t a precedence. 

“I feel you possibly can see that our deal with the traveler, the expertise they’ve with us and the way in which our product delivers again and again for them and has actually proven itself to show out within the outcomes that we’ve seen thus far. And that is still true. We’re completely centered on the enterprise,” Goldberg mentioned on the February name.

“The announcement this week doesn’t change that,” Goldberg continued. “I’m centered on transferring issues ahead and centered on our methods, which I feel are clear and actually delivering and I do know that our groups are doing the identical.”

Quinby alluded to the hypothesis in his feedback on Drew’s departure as shared with PhocusWire. Viator, he mentioned, has lots extra to supply.

“Whereas it’s undoubtedly a loss for Tripadvisor, and Ben’s presence in our trade shall be missed, Viator has a deep bench of expertise,” mentioned Quinby. “There’s nonetheless a lot alternative – and a lot work nonetheless to be achieved – in journey experiences. The one query in regards to the future actually has to do with Tripadvisor, and to what extent that future consists of – or ought to embrace – Viator.”

A way forward for “OTA-like revenue margins”?

Drew spoke on the experiences sector throughout a Heart Stage session in November at The Phocuswright Convention on excursions, experiences and actions.

The experiences sector is wealthy for development. And Viator has confirmed that underneath Drew’s management – progressively accounting for a bigger and bigger share of Tripadvisor’s income. Whereas discussing Tripadvisor’s constructive monetary outcomes pushed by Viator, Drew touched on one other marker of success: The corporate’s expectation to be worthwhile on a full-year foundation in 2024 for the primary time.

However his imaginative and prescient went additional than the subsequent calendar yr.

“We’re truly on a a lot longer-term journey towards form of long-term sustainable, [online travel agency]-like revenue margins, so the way in which that we’re doing that’s by deal with repeat enterprise,” mentioned Drew.

Watch the complete dialog, which additionally options GetYourGuide co-founder and CEO Johannes Reck and Quinby, beneath.