Discuss the issue of consolidation in the online travel services industry.

The online travel services industry has gone through a period of intense consolidation. Expedia now owns Travelocity, Orbitz, CheapTickets, Hotels.com, Hotwire, and meta-search engine Trivago, giving it a 75% market share among U.S. online travel agencies. Its primary competition consists of Priceline, which owns Booking.com, Lowestfare.com, and Kayak. Together, Expedia and Priceline control a whopping 95% of the online travel agency booking market. However, Google is also poised to become a player in the market, with its Google Flights and Google Hotel Finder that also provides booking functionality. The U.S. Department of Justice also cited the TripAdvisor's introduction of an Instant Booking service as a factor in its approval of Expedia's acquisition of Orbitz.

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