Mark Vondrasek left money on the table. Hyatt's commercial chief had part of his stock award pinned to a single number, the share of bookings flowing through Hyatt's own channels, and from 2023 through 2025, he missed it.
The forfeited bonus is a tidy emblem of a decade-long campaign that, by at least one measure, fell short of the dream.
Ten years and roughly $100 million after Hilton told travelers to "stop clicking around," the online travel agencies hold more room-night share, not less.
Kalibri Labs data show hotel-controlled channels slipping from 59% to 58% over the period, while OTAs nudged up from 20% to 21%. Marriott, IHG, and others report directionally similar figures.
But the clicks were never where hotels won. The contracts were.
What they actually extracted was margin. Commissions once ran 15% to 25%. Marriott now pays roughly 10% to 12.5%, and it won the right to reserve its sharpest rates for direct guests and to throttle OTA inventory when rooms are scarce. Same room nights, cheaper room nights.
Now comes a phase nobody trained for. The rise of AI booking platforms could scramble the direct-booking game all over again. Read the story.
And if you'll be in New York City next week, say hi. I'll be at the NYU IHIF conference and Skift's Data & AI Summit. See you there.
Send us tips and scoops. Email Luke Martin ([email protected]) and me ([email protected]).
RARE INDIA + SKIFT
As experiential travel grows, RARE India is building commercial scale around boutique hotels while keeping each property distinct.
EDITOR’S PICKS
Direct Booking Tug-of-War: Hotels’ Long Bid to Take Back Power
May 27, 2026
Ten years after Hilton, Marriott, and other chains began coaxing travelers to book directly, online travel agencies still control roughly the same slice of the pie. Yet the chains have won the economics: lower commissions, better contract terms, and stronger loyalty programs.
GMH Hotels: Airbnb Just Got Serious About Hotels
May 27, 2026
On this week's Good Morning Hospitality, A Skift Podcast: Hotels Edition, Sarah Dandashy and Steve Turk break down a week where three big stories all pointed at the same shift: the distribution, loyalty, and infrastructure layers of hospitality are all getting reshuffled at once.
Accor CEO Bazin to Step Down in 2028, Shareholders Push Back on Pay
May 27, 2026
Accor had a retirement policy. So the news here is CEO Sébastien Bazin saying a “succession search” is underway and that he may leave sooner if the board “finds the right person.” More than 40% of shareholders voted against his pay.
Marriott Signs ResortPass Deal. Why Hotels Are Pushing to Sell More Than Rooms.
May 27, 2026
Hotels have long treated the room as the only thing worth selling. Marriott's deal with ResortPass signals a growing sideline to boost margins: selling empty pool chairs and spa slots to locals who show up for the day.
Airbnb Names Booking.com Veteran in Hotel Leadership Shakeup
May 26, 2026
The hotel leadership shuffle represents somewhat of an about-face for Airbnb as it opts for a leader with online travel agency experience rather than a hotel brand track record. Still, these are early days for Airbnb hotels, and there is plenty of time to get things right.
$11.4 Billion and Zero Churn: What SpaceX Said About Starlink’s Travel Industry Grip
May 26, 2026
The competitors to Musk's Starlink will eventually up their game. It's never healthy for customers and end-users to be dependent on a single vendor, regardless of the Starlink's competitive advantage at this moment.
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SKIFT PODCAST NETWORK
What happens when AI can not only recommend a hotel but actually book it?
In this clip from Good Morning Hospitality, Jason Cincotta, founder of Kismet, joins Brandreth Canaley and Michael Goldin to discuss how AI-powered travel planning is changing hotel distribution.
As Google and other platforms move toward AI-driven booking experiences, independent hotels have a chance to become more discoverable than ever before. But to take advantage of that opportunity, they will need the right technology and connectivity behind the scenes.
SKIFT TRAVEL 200
How are public accommodations companies performing around the world? The Skift Travel 200 pulls the data you need to know to understand the market. Paid subscribers get full access here.
