For decades travel agents had a “lock” on vacations. Before the internet it was near impossible to find cheap fares yourself. And choosing the perfect hotel involved a lot of flicking through glossy brochures.
The “do it yourself” approach was a huge hassle. It was a lot easier to hire a knowledgeable travel agent. Then disruptor stocks like Booking.com (BKNG) and Expedia (EXPE) blew up the old model forever. With a few clicks, you could compare any flight or hotel in the world.
For the first time ever, you could find all the special deals and hidden gems only travel agents knew about. Meanwhile Priceline (now Booking.com) has made investors rich. Its stock shot up 25,000% in two decades, as you can see here: