Google ads and the online travel industry have hit a wall
Online travel agents, one of Google’s best clients, must now pay billions of dollars a year to ensure they show up high in search results
New York — Google’s moves to cram the top of its search results with more and more advertising is hammering the online travel industry, one of the company’s biggest customers.
Expedia Group fell the most in 14 years on Thursday and TripAdvisor dropped the most in two years after the companies reported dismal third-quarter results and laid the blame on Google. Booking Holdings’ shares dropped 8%, too, wiping out a combined market value of more than $13bn from the three online travel agents...