trivago N.V. (NASDAQ:TRVG) Q1 2024 Results Conference Call May 1, 2024 8:15 AM ET
Company Participants
Johannes Thomas - Chief Executive Officer & Managing Director
Robin Harries - Chief Financial Officer
Conference Call Participants
Naved Khan - B. Riley Securities
James Lee - Mizuho
Ron Josey - Citi
Brian Fitzgerald - Wells Fargo
Doug Anmuth - JPMorgan
Operator
Good day, ladies and gentlemen. Thank you for standing by, and welcome to the trivago Q1 Earnings Call 2024. [Operator Instructions]. I must advise you the call is being today, Wednesday, the 1st of May 2024.
We are pleased to be joined on the call today by Johannes Thomas, trivago's CEO and Managing Director; and Robin Harries, trivago CFO and Managing Director. Temporarily designated by Trivago's Supervisory Board pending shareholders' confirmation. The following discussion, including responses to your questions, reflects management's views as of today, Wednesday, May 1, 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 Q1 2024 operating and financial review and trivago's other filings with the SEC, but 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 the most comparable GAAP measures discussed today in trivago's operating and financial review, which is posted on the trivago'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 2023.
With that, let me turn the call over to Johannes.
Johannes Thomas
Good morning, everyone, and thank you for joining us for our Q1 2024 earnings call. To begin, I want to reflect on the journey we've embarked on last year.
In May 2023, the new leadership team and I took the helm. In the quarter when we arrived at trivago, we encountered a business that was declining at double-digit pace year-over-year. We experienced the aftermath of several years of rather low brand investment while simultaneously dealing with the substantial changes Google began making to their search results and ad formats. At the same time, we were thrilled to observe the enduring appeal and relevance of our meta proposition. Our data indicated an increase in the rate disparity since the pandemic, which has increased the value of price comparison.