Booking Holdings announced Tuesday that it took a $457 million accounting writedown on its Kayak brand because of an expected reduction in cash flows and hikes in customer acquisition costs. Kayak co-founder and CEO Steve Hafner’s explanation to Skift Wednesday about what happened has implications throughout the travel industry. In a Skift interview, Hafner laid much of the blame on the rise of large language models, which includes Google’s AI Overviews: Kayak, he said, had to spend more money on Google ...