The rates and declines vary by travel sub-sector. In particular, websites in our Agencies category (which includes both traditional and online players such as Expedia) are most reliant on paid search traffic, but have also experienced the steepest decline over the last 12 months. The declines in the Transport (i.e. airlines, trains, car hire, etc.) and Destinations and Accommodation (which includes both hotel aggregator provider sites) sectors have been less severe