TripAdvisor is evolving into a well-rounded travel planning and booking site. If hotel bookings on TripAdvisor eventually fall short of expectations it would be a big blow, but then tours and activities, restaurant reservations, vacation rentals, hotel metasearch and reviews can all play a role in taking up some of the slack.

But a new report from PiperJaffray argues that Wall Street is downplaying the importance of and profit potential from TripAdvisor’s attractions, restaurant reservations and vacation rental businesses — in other words, all of its non-hotel business — and the research suggests that they could increase 118 percent from 2015 to 2018 and turn into a $500 million business. Click here for the full story.