Investors have sold shares in a number of major US travel sites following downbeat quarterly results, affected by fading demand and competition from the likes of Airbnb.

Expedia and TripAdvisor widely missed Q3 earnings forecasts this week, citing weak online search and advertising trends, with shares in Expedia down 25%, its worst single-day loss in more than six years. TripAdvisor also fell to near two-year lows,  Booking Holdings  dropped more than 7%, and review site Yelp was down 4.5%.

Google has become much more aggressive, and is promoting its own paid travel products forcing other OTAs to rely more on higher-cost ad clicks, while  consumers eschewing hotel rooms in favour of Airbnb and short-term vacation rentals are also putting a strain on pricing.

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