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[Travel News]: Trivago sees 70% drop in 2020 revenue, expects “strong recovery” in second half of 2021

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The following is the [Travel News]: Trivago sees 70% drop in 2020 revenue, expects “strong recovery” in second half of 2021 from [ChinaTravelNews] recommended by TheTourAttraction.com:

The second wave of COVID-19 infections in the fourth quarter of 2020 has materialized in most countries where the company operates.

Trivago said its fourth-quarter revenue declined by 79% to EUR 32.3 million and full-year revenue of 2020 was EUR 248.9 million, down by 70%.

In the fourth quarter of 2020, a second wave of infections of COVID-19 has materialized in most countries where the company operates. 

The company reported a net loss of EUR 8.6 million for the fourth quarter and a net loss of EUR 245.4 million for the full year.

Trivago expects a strong recovery in travel activities by the second half of 2021 with an initial focus of users on nature destinations.

Total cash and short-term investments at EUR 230.2 million as of December 31, 2020, virtually flat compared to 2019 despite the COVID-19 crisis.

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