AI Fails To Disintermediate Major Travel Platforms

In a recent VALUE: After Hours podcast episode, hosts Taylor, Carlisle and Jonathan Tepper discussed whether AI will disintermediate platforms, citing Booking.com's Glenn Fogle and a conference call. They argued platforms aggregate supply and demand and that AI agents face practical hurdles—merchant-of-record responsibilities, multilingual reviews, diverse payment systems, and scraping controls. The hosts concluded platforms are unlikely to be fully displaced.