Travel's competitive moats are eroding fast, and OTAs may not end up holding the most defensible ground.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Read online Travel's Shrinking Moats Travel's competitive moats are eroding fast, and OTAs may not end up holding the most defensible ground. GOOD DAY, READERS. JPMorgan's Jamie Dimon had a blunt message for bankers: competitive moats are temporary, and if you're not building the next big thing, whatever edge you have is already eroding. Skift's Executive Editor Dennis Schaal turned that lens on travel — and the picture isn't flattering for OTAs. Booking Holdings is strongest but faces AI disruption it can't fully predict. Expedia's most durable edge is actually its B2B business, not its consumer brands. Airbnb is racing to build new moats before its existing ones disappear. And the banks? They're quietly becoming travel's most structurally protected players — with assets no OTA can replicate.     Skift Data + AI Summit is Wednesday The Skift Data + AI Summit is happening this Wednesday in New York City, bringing together senior leaders from Expedia, Marriott, Hilton, Booking Holdings, Priceline, IHG, and more to discuss how AI is moving from experimentation to real business impact. Just a few seats remain. Join Us. 2 DAYS AWAY – REGISTER NOW         DON’T MISS THESE STORIES Jamie Dimon Says Moats in Banking Are Temporary. Sounds Like Travel. By Dennis Schaal In travel, as in banking, the moat you're defending today is probably shallower than you think. And it's likely someone is already digging around it. GET THE STORY How AI Became the Reason Not to Buy the World’s Largest Corporate Travel Company By Rafat Ali With most potential buyers citing AI disruption risk and walking away, Long Lake's $6.3 billion acquisition of AmexGBT is the most contrarian bet in travel right now. GET THE STORY Saudi Tourism Chief Hamidaddin to Leave Role as Kingdom Rewrites Its Tourism Ambitions By Sarah Kopit Saudi Arabia's tourism chief is out and the giga-projects are being scaled back. The Kingdom’s tourism mission may be "unchanged," but is being unmistakably revised. GET THE STORY         The Caribbean Destination Intelligence Report MINOR HOTELS + SKIFT Caribbean destinations are navigating an exciting yet uncertain future. Travel leaders need a framework to gain a competitive advantage in this dynamic and growing region. Look no further than this new report. GET THE STORY         For $7 a week, Skift gives you something the industry is missing – the full picture. Subscribe today for 25% off.         MORNING HEADLINES Why the Hotel Business Is Entering an Owner-First Era GET THE STORY Travel Industry Warns Against DHS Threat to Halt Customs at ‘Sanctuary Cities’ GET THE STORY Luxury Retail’s Hospitality Problem Isn’t a Training Problem GET THE STORY What Iceland and Puerto Rico Reveal About Class Divide in Overtourism GET THE STORY IndiGo Will Stick to Low-Cost DNA Even as Willie Walsh Takes Over GET THE STORY Why the Travel Industry Pays Attention to IDEA Awards Winners [ANNOUNCEMENT] GET THE STORY Royal Caribbean’s Giant Beach Resort Blocked by Mexico after Environmental Backlash GET THE STORY         CHART OF THE DAY Skift CEO Rafat Ali published a feature examining what Iceland and Puerto Rico reveal about a class divide in overtourism policy. Both Iceland and Puerto Rico used tourism to dig out of financial ruin, but the two destinations are now dealing with record visitor numbers, displaced residents, and growing backlash. Iceland — with a GDP per capita of $86,000 — can afford to dial it back. Puerto Rico, where 40% of residents live in poverty and tourism supports over 100,000 jobs, cannot. GET THE FULL STORY         SKIFT TRAVEL 200 How are public travel companies performing around the world? The Skift Travel 200 pulls the data you need to understand global market movements. Paid subscribers get full access here. GET TODAY’S INDEX SCORE         See more essential travel news in your search results. ADD SKIFT ON GOOGLE         Thanks for reading. We are switching to a new email platform to improve delivery. What does this mean for you? During this transition, these emails might land in your promotions or spam folder. To ensure you don’t miss out, please move this newsletter to your primary inbox.       DEFINING THE FUTURE OF TRAVEL. Update your email preferences or unsubscribe here © 2026 Skift 35 W 31st St. New York, New York 10001, United States Terms of Service