Dennis Schaal

In the consolidation game, Expedia's business model is to do heavy integration of the acquired companies' back-end platforms while retaining their brands and axing lots of employees to trim costs and boost the bottom line. Synergies for some, unemployment for others.

Priceline Group CEO Darren Huston touts his company's organic growth versus Expedia Inc.'s strategy of mostly acquiring companies that need to be put back on track. Rest assured, however, that Priceline would plunk down a few billion dollars on the right acquisition target. It just wasn't HomeAway, and TripAdvisor and Airbnb are too expensive.

While the big chains have tech and marketing people to optimize websites and their cost-per click campaigns, booking sites in transformation such as Booking.com, Trivago and TripAdvisor are squarely directed at making themselves more essential to smaller, independent hotels. It is another sign of the changing role of metasearch sites and online travel agencies in the mobile era.

Hospitality solutions is a significant yet still relatively small portion of Sabre's business but it will trend upwards in coming years with acquisitions such as the one for Trust International. The travel agent business is still where Sabre makes 70 percent of its dough.

The latest revenue numbers from Airbnb explain why Expedia is acquiring HomeAway, the Priceline Group is touting its 21 million bookable rooms, and Wall Street analysts are questioning hotel-chain CEOs on the prospect of selling hotel rooms through Airbnb.

HomeAway, as it becomes part of Expedia Inc., will become more urban-oriented, and Airbnb is determined to onboard vacation rentals in resort locations. All of which means that Expedia, Airbnb, and Booking.com will increasingly butt heads over the next few years.

TripAdvisor wanted to keep the details secret. But the price for finally getting the Priceline Group/Booking.com into TripAdvisor Instant Booking was playing the online travel agency exclusivity card. Expedia is shut out for now and can join later. Will Book on Google play a similar game?

Accor CEO Sebastien Bazin thinks the hotel industry has failed to get a wake-up call over the last 15 years and has missed out on wave after wave of digital innovation. He's saying all the right things about Accor addressing these past shortcomings, although the jury is still out on how much he'll be able to accomplish.

As this TripAdvisor-Priceline Group partnership takes off, observe it closely because it signals a new stage in earnest in travel bookings -- the real emergence of third-party sites such as TripAdvisor and perhaps Google at some juncture that were primarily media sites as real forces in travel transactions.