Booking Holdings

Please check your pandemic-era assumptions at the door. Hotels have gained ground on online travel agencies. Also, the blockbuster summer travel season may be slightly less so.

Good morning from Skift. It's Wednesday, June 29 in New York City. Here's what you need to know about the business of travel today.

There is a degree of irrationality in CEO pay on many levels, including the companies' relative performance. The pay disclosures also expose the wide disparity in employee pay at Booking versus Airbnb.

Backed by significant travel demand, Booking.com is confident about travel returning to Asian destinations. However, China's quarantine and Japan's reopening trepidations stand in the way of a full recovery.

Sustainability is good for the planet, but it’s also good for business. Expedia Group Media Solutions’ Sustainable Travel Study seeks to understand what consumers consider sustainable travel, what trade-offs they’re willing to make, and where they expect to find information to help them make more mindful choices.

Expedia is trying to press its advantage in business-to-business programs. It's ahead of Booking Holdings in this area, and Airbnb doesn't have one.

The hotel booking ecosystem is weighed down by siloed software systems, middlemen who take a piece of the RevPAR pie, and guests who don’t have as much control over their experiences as they should. The founder of Impala spoke to SkiftX about how to eliminate these issues with a new model: Open Distribution.

T-Mobile is getting heavier into travel with the debut of a discount travel website in partnership with Priceline.

TUI Musement is an up-an-comer in the tours and activities space because of the parent company's huge base, and it knows how to run a tour. Now it has to execute on the digital challenge.

Please don't let us be misunderstood, the Big Three online travel CEOs proclaimed in recent interviews. Airbnb has great cash flow, Booking.com's Europe advantage over Expedia is not unmovable, and Booking is improving in the U.S. So there.