Meta's Muse puts Expedia, Booking and Airbnb under pressure as investors rethink who controls travel bookings
Meta's AI agent Muse has triggered a sharp market reaction in the online travel sector since its Sept. 8 launch, with Expedia, Booking Holdings and Airbnb all selling off as investors reassess where travel search, comparison and checkout may happen in the future. From Sept. 4 to Sept. 23, Booking fell 19.1%, Airbnb dropped 17.8%, and Expedia lost 13.1%, while Meta gained 20.6% over the same stretch. The concern is not that the three travel platforms vanish overnight. It is that the customer journey they monetize could move inside Muse, leaving the platforms with less control over traffic, product placement and commissions. Reporting cited in the source also points to an early split in how travel inventory is handled. Flights already appear capable of bypassing traditional online travel platforms through Duffel's direct connection to more than 500 airlines, while hotel bookings still largely route through consumer-facing sites such as Expedia and Hotels.com. Expedia has chosen to join Muse, saying users will be able to select and pay for Expedia hotel inventory inside the agent, with Expedia remaining merchant of record, but investors still sent the stock sharply lower the next day.
