A great question to pose and one that I will take a slightly different view on. Yes, it is obvious that Google is moving deeper into the travel space, but let's not forget their track record of monetizing consumer-led products and services is not exactly stellar.
There is an inherent value in brands as a way of reassuring guests of a certain quality due to standards imposed by brands. Especially when going to an unknown location. While online reviews have helped independent hotels for some time it is hard to know what standards the reviewer had.
Brand building versus performance marketing is a major issue in the hotel industry. Very few hotel companies are actually building brands. Performance only has been in the DNA of hotel marketing for a while now, but nobody can beat the OTAs at performance marketing.
ITB has come and gone, for some it was a burden, for others it was too many parties. But it still is the biggest and most influential travel show and in my opinion, if it isn't at ITB it's probably not important.