At first glance, it might seem odd that Expedia would carve off a segment that has been so successful.

But Expedia's move could be shrewd considering Google is aiming squarely at TripAdvisor's business. Over the past few months, Google has been emphasizing its search product, "Places." Like TripAdvisor, it shows hotel reviews and directs users to sites where they can book rooms, among other things. As Google has made changes to the way it displays search results, TripAdvisor's traffic has declined, CEO Stephen Kaufer has said. Indeed, Comscore data shows that, since November, TripAdvisor's page views have fallen from the year-earlier number.

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Read also "Why Is Expedia Spinning Off TripAdvisor?" at WSJ's All Things Digital, and "Expedia to spin off TripAdvisor"