Search based ads are going to change, a lot. They're great for bottom of the funnel marketing. The low hanging fruit. But they're not great for discovery. However with AI there's a possible mix of intent and discovery which could be the most powerful of both world.
These are interesting times, indeed, when it comes to search. Specially when it comes to itineraries and travel recommendations suggested by GenAI tools such as ChatGPT, Gemini, Perplexity or Claude. Traditionnally, when you asked Google for accommodations in New York City, you would get a listing with a bunch of hotels, and you'd have to use filters in order to get anything interesting.
Perplexity's shift to CPM is validating for luxury and lifestyle hospitality marketers. Attribution broke long ago for high-consideration, high-value travel purchases like hotels, resorts, and cruises. 7-14 day click windows work for a $20 t-shirt (no dependencies), not a $1,000/night hotel room (plenty of dependencies like booking flights, etc.).