Trivago announced financial results for the fourth quarter of 2021 ended December 31.
Total revenue increased by €56.8 million, or by 176%, during the fourth quarter of 2021 compared to the same period in 2020. Total revenue increased by €112.5 million, or by 45%, during the twelve months ended December 31, 2021, compared to the same period in 2020.
Net income in the fourth quarter of 2021 was €15.2 million as compared to a net loss of €8.6 million in the fourth quarter of 2020. The increase was driven by the recovery of our Referral Revenue and by a €12.0 million COVID-19 subsidy received from the German government in the fourth quarter of 2021 recognized as other income. Net income in the twelve months ended December 31, 2021 was €10.7 million as compared to a net loss of €245.4 million in the twelve months ended December 31 2020. The increase was mainly driven by the non-recurrence of goodwill impairment charges of €207.6 million recorded in the first quarter of 2020.
In the fourth quarter of 2021, Referral Revenue increased to €36.2 million, €35.7 million and €11.9 million or by 178%, 335% and 43% in Americas, Developed Europe and RoW, respectively, compared to the same period in 2020. In the twelve months ended December 31, 2021, Referral Revenue increased to €140.1 million and €163.7 million in Americas and Developed Europe respectively, while it decreased to €45.6 million in RoW.
In the fourth quarter of 2021, total Qualified Referrals increased by 54% as Qualified Referrals increased by 30%, 140% and 22% in Americas, Developed Europe and RoW, respectively, compared to the same period in 2020. The period-over-period increase in Qualified Referrals was due to increased traffic volumes, primarily a result of the easing of mobility restrictions put in place as a result of the COVID-19 pandemic, particularly in Developed Europe. The increase in Developed Europe was more pronounced than in Americas and RoW due to stricter COVID-19 restrictions in this segment during the fourth quarter of 2020.
