Key findings: a) TripAdvisor Instant Booking penetration has stabilized in the high-90%s range (97% & 96% in March & April, respectively) b) OTAs continue to handle the majority of Instant Booking buttons, reaching 74% in April data. Specifically, Booking.com remains the leading Instant Booking partner with ~60% share c) Booking.com was also the leading meta-search advertiser in March & April with a 47% & 52% share respectively, contrary to fears of a potential meta pullback by Priceline. Source: StreetInsider.com