Tripadvisor anticipates a 5% to 7% growth in experiences booked for Q3, as it proceeds with the sale process for its restaurant booking platform, TheFork.

American Express is set to acquire the restaurant reservation platform TheFork from TripAdvisor in a $700 million deal, following pressure from investor Starboard Value due to TripAdvisor's recovery challenges.

American Express has announced its expansion into the dining business with the acquisition of TheFork, a restaurant reservation platform, in a deal valued at $700 million.

Jefferies analysts view Tripadvisor's sale of TheFork as accretive to its valuation, though not necessarily to its outlook.

Tripadvisor's shares surged following the announcement of the $700 million sale of its restaurant reservation platform, TheFork, to American Express.