German based hotel price comparison site Trivago has a billion reasons for celebration after posting a healthy 37% rise in revenues to €1.04bn, equivalent to £920m.
The lodging portal has gone from strength to strength on the back of investment in technology and advertising, helping it to pair back losses from €51.4m last year to just €13m this year. When factors such as tax depreciation, amortization and earning before interest were taken into account the firm posted a profit of €6.7m – significantly below the €28.2m it took home in 2016.
Chief executive Rolf Schroemgens boasted: “At the end, it’s all about having the best product.
“The majority of our efforts were in setting the infrastructure for the product up in a way that we can cope with the requirements of the future.”
Trivago’s hunger for growth has seen it snap up machine learning startup Tripl and swamp London Underground with endless pictures of the ‘Trivago girl’ who followed commuters' every move in a widely mocked campaign.