$PNOW Major online search and reservation sites and their subsidiaries, generally charge about 25% of the total reservation amount – with the exception of Booking.com (12.5%). These OTAs are essentially third party travel websites offering virtual billboards to hospitality properties, looking to market themselves to online travel shoppers. Due to a high volume of traffic and a limited number of billboards, these OTAs are in a position to command higher commission rates. $EXPE $PCLN $TRIP