Booking Holdings

Advertising such as bidding programs can be a higher margin business than transactions for online travel agencies. It looks like Expedia, at least, wants to get involved in that bidding revenue that Google and metasearch players have generated for years.

Priceline wants to get into your social feed, and it's using humor to ease its way in.

As TripAdvisor Instant Booking kicks into gear it appears as though it is breaking new ground and becoming a hotel-friendly channel -- for chains that sign up, that is. Chains such as Hilton Worldwide and InterContinental Hotels Group, which have not hopped on the bandwagon, can probably afford to sit on the sidelines for awhile to gauge how the whole thing shakes out.

Maybe it bodes well for travel agents that travelers are getting used to paying additional fees for better service in the air and at hotels, since fees have been a reality when booking with an agent for a long time.

Don't downplay the importance of intangibles and narratives in the online travel business. Expedia won 2015. Booking.com won't sit back in 2016. In this transitional year in online travel and lodging on so many levels, you can expect that Booking.com will be heard from.

Rate parity and most-favored nation provisions are slowly fading as Marriott and Hilton offer lower rates to new and existing loyalty program members on their own sites than Expedia and Booking.com can. Don't underplay the power of a several-dollar discount in the race toward bolstering loyalty-program rosters through the lure of bottom-of-the-heap pricing.

While TripAdvisor Instant Booking has become pervasive on its sites, success isn't assured. Ultimately, it will be up to consumers decide if TripAdvisor is the place they want to book their travel.

Travel-booking CEOs say the darnedest things: the Priceline Group's Darren Huston basically said he didn't waste $4 billion on acquiring HomeAway, like he thinks Expedia did, and Expedia CEO Dara Khosrowshahi let the word out that his company had been shut out of TripAdvisor Instant Booking. One can only wonder what they are saying to one another when they huddle in private.

It is very attractive for Booking.com to abstain from charging travelers a booking fee on vacation rentals. But the lack thereof means Booking.com's commissions may not be competitive and shareholders will likely demand that Booking.com maximize the revenue opportunity and impose the booking fee.

The German regulator's ruling to reject Booking.com's reformed hotel rate practices as not going far enough could be a landmark decision if it holds up upon appeal and if other European countries follow Germany's lead. Booking.com may have the leverage to inhibit hotel partners from getting carried away on discounting but the ruling is a victory for consumers nonetheless.