trivago N.V. (NASDAQ:TRVG) Q1 2023 Earnings Conference Call May 3, 2023 8:15 AM ET
Company Participants
Axel Hefer - Chief Executive Officer & Managing Director
Matthias Tillmann - Chief Financial Officer & Managing Director
Conference Call Participants
Lloyd Walmsley - UBS
Stan Velikov - Wells Fargo
James Lee - Mizuho
Ron Josey - Citi
Kevin Kopelman - TD Cowen
Operator
Good day, ladies and gentlemen. Thank you for standing by and welcome to the trivago Q1 Earnings Call 2023. [Operator Instructions] I must advise you the call is being recorded today, Wednesday, the 3rd of May, 2023.
We are pleased to be joined on the call today by Axel Hefer, trivago’s CEO and Managing Director; and Matthias Tillmann, trivago’s CFO and Managing Director. The following discussion including responses to your questions reflects management’s views as of today Wednesday, May 3, 2023, 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 Q1 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 these forward-looking statements.
You will find reconciliations of non-GAAP measures to the 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 Axel.
Axel Hefer
Thank you, everyone for joining us for our Q1 2023 earnings call today. Demand in the first quarter has been robust, and we have seen the start of a strong recovery in travel in Asia, driven by the reopening of Japan and China. In our Western markets, the economic outlook has remained uncertain. And we've seen our users mitigating the negative effect of inflation, shifting to shorter trips and cheaper destinations when comparing prices on trivago.
In an environment, where price comparison is on top of everybody's mind every day, we have ramped up our brand marketing activities and are preparing to continue to invest into our brand and the communication of our value proposition in the summer. In the first quarter, we've seen solid growth of our branded traffic and expect our brand marketing activities to continue to fuel a positive development of our direct traffic.