KeyBanc analyst Sergio Segura says online travel stocks sold off yesterday following a Google (GOOG, GOOGL) blog post announcing new artificial intelligence-powered travel tools. The share pressure indicates that investors are concerned about the impact to online travel agency business models, the analyst tells investors in a research note. However, KeyBanc believes the market reaction overestimates the risk of AI-driven disruption and underappreciates the value of online travel platforms. Companies with “global scale, differentiated supply, and superior marketing efficiency are best insulated,” the firm contends. It believes Booking Holdings (BKNG) is best positioned, followed by Airbnb (ABNB), and then Expedia (EXPE).
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