Booking Holdings

When it comes to Google and its hotels redesign, few things are all or nothing. TripAdvisor can worry that Google now has more traveler photos and reviews, but some of them are from TripAdvisor. Hotel websites and phone numbers get featured, but clicking on a book button brings customers to an online travel agency site. In travel, it's never winner take all.

Booking.com wants to service professional managers while going after individual vacation rental owners, too. Airbnb wants to tap into the professional-manager set while branching out into resort areas, and HomeAway wants to get more urban. These companies' offerings will converge, and it's likely their business models will, too.

It's becoming increasingly clear that online travel players will try to leverage the heck out of connections between food delivery, ridehailing, and booking hotels. Uber and Lyft will undoubtedly become a bigger part of the action, as well.

Shares in the hotel search company rose the most in two years on news that a cut in ad spending had pushed the Expedia-controlled company into the black. But the company, which once enjoyed meteoric growth, seems unlikely to return to turbo-charged revenue gains anytime soon.

Diller is one of the godfathers of online travel and Expedia is probably among the top two travel advertisers in Google. Whether his comments will lead to lobbying or business practice changes, is today's multibillion dollar question.

An Expedia acquisition of Thomas Cook? While problematic on many fronts, including buying all of those offline agents, it isn't out of the question. Consider that Expedia would gain access to a customer base in Europe that it hardly touches. Expedia's Barry Diller has made a ton of acquisitions. He and Okerstrom are hardly done yet.

Both TripAdvisor and Booking.com are newly emphasizing tours and activities in their TV advertising. You can expect a lot more of this from myriad players in the years to come. There will be variations, though. While these two companies push mainstream, touristy attractions, Airbnb will likely highlight curated experiences, although that could change, as well.

The Booking Holdings CEO is taking the long view, which can be difficult for the leader of a public company to accomplish while growing stock value. The opportunity is there, though, for the online booking leader to improve its offerings with data-based personalization.

Well, well, well ... if Booking Holdings is cutting brand marketing spending, what does it mean for the Momondo name going forward?