trivago N.V.

Good day, ladies and gentlemen. Thank you for standing by and welcome to the Trivago Q4 earnings call 2023. If you'd like to ask a question at the end of the presentation, you can press star followed by one on your telephone keypad. If you'd like to remove your question, you may press star followed by two. I must advise you the call is being recorded today, Wednesday, the 7th of February, 2024. We are pleased to be joined on the call today by Johannes Thomas, Trivago's CEO and Managing Director, and Kevin Hu, Trivago's interim CFO. The following discussion, including responses to your questions, reflects management's views as of today, Wednesday, February 7th, 2024 only. Trivago does not undertake any obligation to update or revise this information. As always, some of the statements made on today's call are forward-looking, typically preceded by words such as, we expect, we believe, we anticipate, or similar statements. please refer to the Q4 2023 Operating and Financial Review and the company's other filings with the SEC for information about factors which could cause Trivago's actual results to differ materially from those forward-looking statements. You'll find that reconciliations of non-GAAP measures to be most comparable GAAP measures discussed today in Trivago's Operating and Financial Review, which is posted on the company's IR website at ir.trivago.com. you are encouraged to periodically visit Trivago's investor relations site for important content. Finally, unless otherwise stated, all comparisons on this call will be against results for the comparable period of 2022. With that, let me turn the call over to Johannes to begin.

Good morning, everyone, and thank you for joining us for our Q4 2023 earnings call. The fourth quarter has unfolded as anticipated. We saw a decline in revenue in line with the trends observed in previous quarters. This decline was primarily due to lower levels of monetization and headwinds in performance marketing. Additionally, we have felt adverse effects of low brand marketing investments in the recent years. However, these declines were partially mitigated by volume growth in our rest of the world segment. Jasmine, Andre, and I returned to Trivago about nine months ago. with Kevin providing remarkable support as the interim CFO until Robin's arrival. As a new leadership team, we continue to believe in the potential of the business. The value proposition of Trivago remains highly relevant as consumers continue to be price conscious.

And the Trivago brand for us.