So much "this!". The hotel/booking is the most blatant example, because the bar for "good enough" wouldn't really be that far up.
The only moat they have is worldwide discoverability (a regional cooperative just won't reach people who visit once, cooperatives would have to start global, or at least be really, really good at federating) and that the threshold for critical mass in that market is winner takes all: at least when you are not looking for that one spot for a two-weeks getaway (you might even enjoy trawling multiple platforms) but going through serial booking for a road trip (doesn't even matter wether it's bulk ahead or on the go),
The only moat they have is worldwide discoverability (a regional cooperative just won't reach people who visit once, cooperatives would have to start global, or at least be really, really good at federating) and that the threshold for critical mass in that market is winner takes all: at least when you are not looking for that one spot for a two-weeks getaway (you might even enjoy trawling multiple platforms) but going through serial booking for a road trip (doesn't even matter wether it's bulk ahead or on the go),