Wednesday brought Phocuswright Europe's warning that AI efficiency gains have not translated into consumer bookings, with chatbots failing to convert and incumbents widening their moat over startups, hospitality.today's data showing travel agencies grew commissionable hotel room nights at 11.8% against OTAs' 6% in H1 2026, and Pertlink's follow-up on real AI containment failures at OpenAI and Anthropic with direct governance implications for hoteliers. China's 1,100-plus forecast hotel openings, LWHA's K-shaped U.S. transaction recovery, and a record properties day from Papua New Guinea to New Zealand rounded out the session.