NEW YORK (TheStreet) -- Shares of TripAdvisor (TRIP) are soaring 11.79% to $85.53 on Wednesday after the company said that it's teaming up with Marriott International (MAR) to let users of its travel-guide website book rooms at their hotels.
"We welcome Marriott to the Instant Booking platform, which provides travelers with a new, simplified booking functionality and an opportunity for Marriott to expand its relationship with guests before, during and after the trip," TripAdvisor's CEO Stephen Kaufer said.
Starting later this summer, travelers will be able to browse through TripAdvisor's website and book their stay at any of Marriott's more than 4,200 hotels.
This agreement will benefit Marriott by bringing new customers to the hospitality company's broad portfolio, according to both companies.
"TripAdvisor is a perfect partner for Marriott, both strategically and culturally," Marriott's CEO Arne Sorenson said. "Our new agreement demonstrates how the growth strategies for our two companies are aligned in the travel space."
Separately, TheStreet Ratings team rates TRIPADVISOR INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRIPADVISOR INC (TRIP) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."