On September 23rd, Expedia fell 7.7%, Airbnb fell 7.6%, and Booking Holdings fell 5.1% in a single day as investors reacted to a new threat to the online travel agencies: Meta’s new AI agent, Muse.
This story caught my eye because the same thing that spooked investors could change how guests find and book your property.
Here’s what investors are afraid of: If an AI agent can learn what a traveler wants, search across multiple sources, compare the options, and complete the booking… then the OTA could get cut out of the transaction.
That’s obviously bad for Airbnb, but it could be a good thing for hosts with a strong direct-booking website.
What’s Muse?
You might have heard the name “Muse” come up lately. In less than 10 days after Meta released it, the app reached the No. 1 spot in the App Store and had already been downloaded more than 3.4 million times.
Think of Muse as less like a chatbot and more like a virtual assistant that you can actually delegate work to.
Unlike the original ChatGPT experience, which was basically “ask a question, get an answer,” Muse can remember what matters to you, work in the background, use a browser, fill out forms, and come back for your approval before making a purchase.
And Meta specifically lists booking travel as one of the things it’s built for.
The key is that Muse can actually remember your preferences like a personal assistant would (ex: that you usually book vacation rentals, travel with a family of five, and need a place that’s toddler-friendly with flexible cancellation policies).
So when you’re planning a trip, it can automatically search for properties that fit those criteria, compare the Airbnb listing against the property’s direct-booking website, and evaluate the price, fees, and cancellation terms.
What Investors Are Actually Worried About
The biggest immediate threat is that travelers stop beginning their search on Airbnb.
And that starting point is incredibly valuable.
Think about it… If travelers automatically open Airbnb when planning a trip, Airbnb gets to decide which properties they see, promote its other experiences, sell advertising, and keep the relationship with the guest.
Muse changes that.
If the traveler starts with the AI agent instead of opening Airbnb, the agent doesn’t just check one OTA. It can compare every option, every single time, including the property’s own direct-booking site.
That matters because a lot of vacation rental inventory is already bookable directly.
In 2026 industry data, 70% of operators had a direct-booking website, but 62% still generated less than 25% of their revenue through direct channels. Another 18% received no direct bookings at all.
In other words, much of the supply already exists outside the OTAs, but guests don’t take the time to find it.
An AI agent could help close that gap.
Why This Matters for You
Here’s the thing: we know that having a direct-booking website doesn’t mean you’re ready to compete with an OTA.
Airbnb, Expedia, and Booking won’t suddenly disappear. Expect them to show up inside these agents too, competing for the booking like everyone else.
Accurate availability, transparent fees, clear cancellation policies, reliable checkout, and reviews can get your site into the comparison. But being visible to an agent doesn’t give it a reason to choose you.
So look at your site the way an agent (or a skeptical stranger) would. Can it quickly find the total price, policies, reviews, and a clear reason to book directly? If not, Airbnb wins.
And AI agents don’t get rid of the middleman. They just move it. If the traveler starts with Muse, Meta decides what gets surfaced, the same way Airbnb does today.
That’s why I keep coming back to the point I made a few weeks ago: the most valuable asset you have is your relationship with the guest.
For new travelers, your site needs to be ready to compete inside whatever tool they open first. But a past guest on your email list doesn’t start with Airbnb or an agent. They start with you.
Your website helps you compete in the search. Your relationship with the guest helps you skip the search process entirely. And those are the bookings no OTA or AI agent gets to control.
Further reading
