He says Expedia and its brands have a simple value proposition: “You can book everything in one place - if something goes wrong, we can solve your problem in one place."

But travel search and booking have become commodified. And it can be hard to tell some of Expedia’s brands apart, save for Travelocity’s ever-present gnome.

That’s why Okerstrom thinks the future will involve using the data Expedia has amassed to provide more comprehensive services to leisure and business travelers. “Expedia’s first 20 years were all about traffic,” he says. “The next 25 years about putting the A back in OTA—doing what the travel agent used to do.”