Booking, Airbnb, Expedia lag in capturing travel experiences market

Online travel agencies Booking.com, Airbnb and Expedia are expanding efforts to sell complete travel packages that include tours, activities and local experiences. Booking has integrated FareHarbor to add more than 150,000 attractions, Airbnb relaunched its Experiences app, and Expedia is acquiring Tiqets to strengthen its activities offering. Despite these moves, specialised operators retain a lead: GetYourGuide reported adjusted EBITDA profitability and revenues nearing €1 billion, while Tripadvisor’s Viator generated $924 million in 2025 and announced a focus on experiences by selling The Fork. The OTA sector faces challenges such as fragmented inventory, lower average transaction value and dependence on diverse local providers, making it difficult to turn experience bookings into a consistently profitable business.