{
  "slug": "online-travel-distribution",
  "question": "How much do OTAs take per booking, how much hotel demand do they control, and what do they spend to win a traveller?",
  "title": "Online Travel Distribution 2026: OTA Take Rates, Hotel Direct Booking Share and What Platforms Spend per Booking",
  "answer": {
    "headline": "The big online travel agencies keep 12–15% of what travellers spend: Booking Holdings 14.5% and Expedia Group 12.3% in 2025, Airbnb 13.41%. European hotels still sell 51.3% of their nights direct, but OTAs bring 29.9%, and Booking.com alone takes 69.4% of the OTA bookings of independent hotels. To win that demand, Booking spends 4.4% of gross bookings on marketing and Expedia spends 49.9% of its revenue on direct sales and marketing.",
    "sample": "Booking Holdings, Expedia Group, Airbnb, Sabre, Tripadvisor, Trip.com, MakeMyTrip and IHG annual reports (2025) and quarterly filings (Q2 2026) on sec.gov; HOTREC European Hotel Distribution Study 2026 (survey of 1,882 hotels plus aggregated data from 831 chain hotels, reference year 2025); European Commission hotel accommodation market study (2021 data); Statistics Canada 21-10-0251-01 (2021); EU Digital Markets Act decisions and Court of Justice ruling C-264/23",
    "verifiedAsOf": "2026-10-20"
  },
  "sections": [
    {
      "id": "scale",
      "title": "How big the platforms are",
      "note": "Gross bookings are the total value travellers booked through the platform, before cancellations and before the platform's cut. Booking.com-type agency bookings, merchant bookings and Airbnb's gross booking value are all included as each company defines them.",
      "rows": [
        {
          "label": "Booking Holdings — gross bookings",
          "value": "$50,957M",
          "segment": "one quarter",
          "period": "Q2 2026",
          "source": "Booking Holdings 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000037/bkng-20260630.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — gross bookings",
          "value": "$33,928M",
          "segment": "one quarter",
          "period": "Q2 2026",
          "source": "Expedia Group 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000053/expe-20260630.htm",
          "tier": 1
        },
        {
          "label": "Airbnb — gross booking value",
          "value": "$27,247M",
          "segment": "one quarter",
          "period": "Q2 2026",
          "source": "Airbnb 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1559720/000155972026000027/abnb-20260630.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — gross bookings",
          "value": "$2,854.7M",
          "segment": "India · one quarter",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        },
        {
          "label": "Booking Holdings — room nights reserved",
          "value": "325 million",
          "segment": "one quarter · +5.3% year on year",
          "period": "Q2 2026",
          "source": "Booking Holdings 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000037/bkng-20260630.htm",
          "tier": 1
        },
        {
          "label": "Airbnb — nights and experience seats booked",
          "value": "148 million",
          "segment": "one quarter",
          "period": "Q2 2026",
          "source": "Airbnb 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1559720/000155972026000027/abnb-20260630.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — lodging properties on the marketplace",
          "value": "3.6 million",
          "segment": "of which 2.4 million on Vrbo",
          "period": "31 Dec 2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "Sabre — bookings through its global distribution system",
          "value": "365.3 million",
          "segment": "direct billable bookings, all travel",
          "period": "2025",
          "source": "Sabre 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1597033/000162828026008800/sabr-20251231.htm",
          "tier": 1
        }
      ]
    },
    {
      "id": "take-rate",
      "title": "What the platform keeps: take rates and fees",
      "note": "Take rate = platform revenue as a share of gross bookings. It mixes commissions, merchant margins, payment fees and advertising, so it is the platform's average cut, not a contract commission. Hotels' contract commissions are shown separately at the end.",
      "rows": [
        {
          "label": "Booking Holdings",
          "value": "14.5%",
          "segment": "revenue / gross bookings",
          "period": "2025",
          "source": "Booking Holdings 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm",
          "tier": 1
        },
        {
          "label": "Booking Holdings",
          "value": "14.4%",
          "segment": "revenue / gross bookings · one quarter",
          "period": "Q2 2026",
          "source": "Booking Holdings 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000037/bkng-20260630.htm",
          "tier": 1
        },
        {
          "label": "Airbnb",
          "value": "13.41%",
          "segment": "revenue / gross booking value",
          "period": "2025",
          "source": "Airbnb 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1559720/000155972026000004/abnb-20251231.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — B2B (partners, white label, API)",
          "value": "13.6%",
          "segment": "revenue margin",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — all channels",
          "value": "12.3%",
          "segment": "revenue margin",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — B2C (own consumer brands)",
          "value": "11.3%",
          "segment": "revenue margin",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — hotels and packages",
          "value": "18.0%",
          "segment": "India · adjusted margin / gross bookings",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — bus tickets",
          "value": "10.3%",
          "segment": "India · adjusted margin / gross bookings",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — air tickets",
          "value": "6.4%",
          "segment": "India · adjusted margin / gross bookings",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        },
        {
          "label": "Sabre — fee per GDS booking",
          "value": "$6.30",
          "segment": "per marketplace booking, paid by the supplier",
          "period": "Q2 2026",
          "source": "Sabre Q2 2026 earnings release",
          "url": "https://www.sec.gov/Archives/edgar/data/1597033/000162828026053858/q22026earningsrelease.htm",
          "tier": 1
        },
        {
          "label": "Sabre — share of revenue paid back to travel agencies as incentives",
          "value": "43.6%",
          "segment": "distribution partners",
          "period": "2025",
          "source": "Sabre 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1597033/000162828026008800/sabr-20251231.htm",
          "tier": 1
        },
        {
          "label": "EU independent hotels — mean basic OTA commission",
          "value": "10–20%",
          "segment": "band disclosed for confidentiality",
          "period": "2021",
          "source": "European Commission hotel accommodation market study",
          "url": "https://competition-policy.ec.europa.eu/system/files/2023-01/kd0722783enn_hotel_accomodation_market_study.pdf",
          "tier": 1
        },
        {
          "label": "EU independent hotels — OTA contracts with extra commission at least sometimes",
          "value": "22%",
          "segment": "share of OTA relationships",
          "period": "2021",
          "source": "European Commission hotel accommodation market study",
          "url": "https://competition-policy.ec.europa.eu/system/files/2023-01/kd0722783enn_hotel_accomodation_market_study.pdf",
          "tier": 1
        }
      ]
    },
    {
      "id": "hotel-channels",
      "title": "Where European hotels get their guests (share of overnights)",
      "note": "HOTREC survey of European hotels, 2025 stays. All-hotel rows include the aggregated data from chain hotels; chain rows are the chain properties only. Survey data with a disclosed method: shown as industry evidence, not official statistics.",
      "rows": [
        {
          "label": "All hotels — direct channels (phone, email, walk-in, own website)",
          "value": "51.3%",
          "segment": "direct total",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "All hotels — online travel agencies",
          "value": "29.9%",
          "segment": "OTAs",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "All hotels — real-time booking on the hotel's own website",
          "value": "13.9%",
          "segment": "part of direct",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "All hotels — global distribution systems",
          "value": "1.9%",
          "segment": "GDS",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Chain hotels — online travel agencies",
          "value": "29.4%",
          "segment": "chains only",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Chain hotels — chain's own website",
          "value": "20.1%",
          "segment": "chains only",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Chain hotels — telephone reservations",
          "value": "17.5%",
          "segment": "chains only",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Chain hotels — global distribution systems",
          "value": "11.2%",
          "segment": "chains only",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "IHG — room revenue through the chain's own channels and sources",
          "value": "83%",
          "segment": "one global chain",
          "period": "2025",
          "source": "IHG 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/0000858446/000085844626000010/ihg-20251231.htm",
          "tier": 1
        },
        {
          "label": "IHG — room revenue from direct digital channels",
          "value": "26%",
          "segment": "one global chain",
          "period": "2025",
          "source": "IHG 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/0000858446/000085844626000010/ihg-20251231.htm",
          "tier": 1
        },
        {
          "label": "Canadian hotels and motels selling through third-party websites",
          "value": "88.3%",
          "segment": "share of e-commerce sellers",
          "period": "2021",
          "source": "Statistics Canada 21-10-0251-01",
          "url": "https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2110025101",
          "tier": 1,
          "stale": true
        },
        {
          "label": "Canadian hotels and motels selling through their own website",
          "value": "81.3%",
          "segment": "share of e-commerce sellers",
          "period": "2021",
          "source": "Statistics Canada 21-10-0251-01",
          "url": "https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=2110025101",
          "tier": 1,
          "stale": true
        }
      ]
    },
    {
      "id": "ota-concentration",
      "title": "Who the OTA bookings go to (share of a hotel's OTA bookings, Europe)",
      "note": "Relative OTA market shares reported by hotels in the HOTREC survey. The smaller and more independent the hotel, the more of its OTA business runs through one platform.",
      "rows": [
        {
          "label": "Booking.com — 20–50-room hotels",
          "value": "70.8%",
          "segment": "highest in this set",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Booking.com — independent hotels",
          "value": "69.4%",
          "segment": "",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Booking.com — hotel cooperation members",
          "value": "62.3%",
          "segment": "",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Booking.com — 100+ room hotels",
          "value": "59.3%",
          "segment": "",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Booking.com — chain hotels",
          "value": "56.3%",
          "segment": "",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Expedia Group — all European OTA bookings",
          "value": "16.6%",
          "segment": "",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Booking Holdings and Expedia Group combined — all European OTA bookings",
          "value": "85.4%",
          "segment": "",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Booking Holdings and Expedia Group combined — chain hotels' OTA bookings",
          "value": "94%",
          "segment": "chains only",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        }
      ],
      "chart": "bars"
    },
    {
      "id": "acquisition",
      "title": "What platforms spend to win a booking",
      "note": "Marketing is the largest cost line of an OTA. Expedia reports performance marketing as 'direct selling and marketing'; MakeMyTrip books discounts and loyalty as a reduction of revenue (customer inducement costs), separately from marketing.",
      "rows": [
        {
          "label": "Booking Holdings — marketing expenses",
          "value": "$8,186M",
          "segment": "performance and brand marketing",
          "period": "2025",
          "source": "Booking Holdings 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm",
          "tier": 1
        },
        {
          "label": "Booking Holdings — marketing as a share of gross bookings",
          "value": "4.4%",
          "segment": "",
          "period": "2025",
          "source": "Booking Holdings 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm",
          "tier": 1
        },
        {
          "label": "Booking Holdings — marketing as a share of gross bookings",
          "value": "4.7%",
          "segment": "one quarter",
          "period": "Q2 2026",
          "source": "Booking Holdings 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000037/bkng-20260630.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — direct selling and marketing",
          "value": "$7,349M",
          "segment": "search engines, metasearch, brand",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — direct selling and marketing as a share of revenue",
          "value": "49.9%",
          "segment": "",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "Trip.com Group — sales and marketing as a share of net revenue",
          "value": "25%",
          "segment": "one quarter",
          "period": "Q2 2026",
          "source": "Trip.com Group results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1269238/000119312526392473/d167816dex991.htm",
          "tier": 1
        },
        {
          "label": "Airbnb — sales and marketing as a share of revenue",
          "value": "21%",
          "segment": "$2,588M",
          "period": "2025",
          "source": "Airbnb 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1559720/000155972026000004/abnb-20251231.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — customer inducement costs",
          "value": "$106.8M",
          "segment": "India · one quarter · deducted from revenue",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — marketing and sales promotion",
          "value": "$48.8M",
          "segment": "India · one quarter",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        }
      ]
    },
    {
      "id": "hotel-pain",
      "title": "What hotels complain about",
      "note": "HOTREC survey, European hotels, 2025. Rate undercutting means an OTA shows the hotel's room cheaper than the hotel itself; multi-sourcing means the room is resold through other OTAs without the hotel's direct contract.",
      "rows": [
        {
          "label": "Hotels reporting that OTAs undercut their rates",
          "value": "51%",
          "segment": "all respondents",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Undercutting hotels — gap of 6–10% below the hotel's own rate",
          "value": "58%",
          "segment": "hotels affected by undercutting",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Hotels reporting OTA multi-sourcing of their rooms",
          "value": "44%",
          "segment": "all respondents",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Cancellation rate — bookings via Booking.com",
          "value": "19.0%",
          "segment": "share of bookings",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Cancellation rate — direct bookings",
          "value": "9.1%",
          "segment": "share of bookings",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Hotels using a channel manager",
          "value": "66%",
          "segment": "all respondents",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        },
        {
          "label": "Hotels still updating online channels manually",
          "value": "23%",
          "segment": "all respondents",
          "period": "2025",
          "source": "HOTREC European Hotel Distribution Study 2026",
          "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf",
          "tier": 2
        }
      ]
    },
    {
      "id": "growth",
      "title": "Where the growth is",
      "note": "Year-on-year changes reported by the platforms. Partner (B2B) distribution and India grow fastest; hotel metasearch shrinks.",
      "rows": [
        {
          "label": "Expedia Group — B2B gross bookings",
          "value": "+20%",
          "segment": "partner and white-label channel",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — B2C gross bookings",
          "value": "+3%",
          "segment": "own consumer brands",
          "period": "2025",
          "source": "Expedia Group 10-K",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm",
          "tier": 1
        },
        {
          "label": "MakeMyTrip — gross bookings, constant currency",
          "value": "+19.9%",
          "segment": "India",
          "period": "Q2 2026",
          "source": "MakeMyTrip results (6-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1495153/000119312526329440/mmyt-ex99_1.htm",
          "tier": 1
        },
        {
          "label": "Expedia Group — booked room nights",
          "value": "+6%",
          "segment": "",
          "period": "Q2 2026",
          "source": "Expedia Group 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000053/expe-20260630.htm",
          "tier": 1
        },
        {
          "label": "Booking Holdings — room nights",
          "value": "+5.3%",
          "segment": "",
          "period": "Q2 2026",
          "source": "Booking Holdings 10-Q",
          "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000037/bkng-20260630.htm",
          "tier": 1
        },
        {
          "label": "Tripadvisor — hotels (metasearch) revenue",
          "value": "−23%",
          "segment": "",
          "period": "Q2 2026",
          "source": "Tripadvisor results (8-K)",
          "url": "https://www.sec.gov/Archives/edgar/data/1526520/000119312526336666/trip-ex99_1.htm",
          "tier": 1
        }
      ]
    },
    {
      "id": "rules",
      "title": "EU rules that change the hotel–OTA bargain",
      "note": "Booking.com is a gatekeeper under the Digital Markets Act: parity clauses that kept hotels from selling cheaper on their own websites no longer apply to it in the EU.",
      "rows": [
        {
          "label": "Booking.com designated a gatekeeper under the EU Digital Markets Act",
          "value": "in force",
          "segment": "obligations apply from 14 November 2024",
          "period": "since Nov 2024",
          "source": "European Commission — Digital Markets Act",
          "url": "https://digital-markets-act.ec.europa.eu/booking-must-comply-all-relevant-obligations-under-digital-markets-act-2024-11-14_en",
          "tier": 1
        },
        {
          "label": "Booking.com may not stop hotels from offering lower prices or better conditions on their own websites or other channels (DMA anti-parity obligation)",
          "value": "in force",
          "segment": "hotels may undercut Booking.com on their own website",
          "period": "since Nov 2024",
          "source": "European Commission — Digital Markets Act",
          "url": "https://digital-markets-act.ec.europa.eu/booking-must-comply-all-relevant-obligations-under-digital-markets-act-2024-11-14_en",
          "tier": 1
        },
        {
          "label": "Hotels get real-time access to the data their Booking.com business generates",
          "value": "in force",
          "segment": "data access and portability",
          "period": "since Nov 2024",
          "source": "European Commission — Digital Markets Act",
          "url": "https://digital-markets-act.ec.europa.eu/booking-must-comply-all-relevant-obligations-under-digital-markets-act-2024-11-14_en",
          "tier": 1
        },
        {
          "label": "Court of Justice C-264/23: wide and narrow price-parity clauses of accommodation platforms must be assessed under EU competition law on their own",
          "value": "in force",
          "segment": "preliminary ruling of 19 September 2024",
          "period": "since Sep 2024",
          "source": "Court of Justice of the EU",
          "url": "https://curia.europa.eu/site/upload/docs/application/pdf/2024-09/cp240145en.pdf",
          "tier": 1
        }
      ]
    }
  ],
  "reconciliation": {
    "title": "Why the OTA numbers look inconsistent",
    "body": "Three different things are called 'OTA share' and 'commission'. First, a platform's take rate (12–15% for the global OTAs) is revenue divided by everything booked, including flights, cars and cancellations-adjusted stays; it is lower than the commission a hotel signs because flights and partner channels earn less and because it is averaged across contracts. The hotel-side contract rate is the European Commission's 10–20% band for independent hotels, and that is 2021 data. Second, the share of demand: HOTREC measures overnights in European hotels that answered its survey, which over-represents independent and small properties; IHG measures room revenue of one global chain; Statistics Canada counts how many hotels use a channel at all, not how much they sell through it. Third, the period: platform figures are 2025 and Q2 2026, the hotel survey is 2025 stays, and the Commission and Canadian figures are 2021. Use the platform rows for the economics of an intermediary, and the HOTREC rows for what an independent European hotel experiences.",
    "sources": [
      {
        "source": "Booking Holdings — 10-K 2025 and 10-Q Q2 2026",
        "url": "https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm"
      },
      {
        "source": "Expedia Group — 10-K 2025",
        "url": "https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm"
      },
      {
        "source": "HOTREC European Hotel Distribution Study 2026",
        "url": "https://www.hotrec.eu/media/static/files/import/all_news_2026_2026_35/full-study_european-hotel-distribution-study-2026_hotrec.pdf"
      },
      {
        "source": "European Commission — hotel accommodation market study",
        "url": "https://competition-policy.ec.europa.eu/system/files/2023-01/kd0722783enn_hotel_accomodation_market_study.pdf"
      }
    ]
  },
  "methodology": "Every number on this page is a fact node in the God of Startups Atlas — a knowledge graph where each metric carries its source URL, reporting period, evidence tier and the verbatim quote it was taken from. Tier 1 means official or statutory sources (company filings with the US SEC, the European Commission, Statistics Canada); tier 2 means industry research with a disclosed method (HOTREC's hotel survey with its sample and weighting). Values are shown in the currency the source reports; nothing is converted, estimated or modelled. Regulation rows are verified rule records from the European Commission and the Court of Justice.",
  "metaTitle": "Online Travel Distribution 2026: OTA Take Rates, Channels",
  "metaDescription": "Booking Holdings keeps 14.5% and Expedia 12.3% of gross bookings; European hotels sell 51.3% of nights direct, 29.9% via OTAs. Take rates and channels.",
  "cite": "God of Startups Atlas (2026). Online Travel Distribution 2026: OTA Take Rates, Hotel Direct Booking Share and What Platforms Spend per Booking. https://godofstartups.com/atlas/online-travel-distribution — data: SEC filings, HOTREC, European Commission. Licence: CC BY 4.0.",
  "page": "https://godofstartups.com/atlas/online-travel-distribution",
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "note": "Each row carries its primary source, period and evidence tier (1 = official/statutory, 2 = industry research with disclosed method)."
}