Hotels have a 7% profit margin. The airline industry, 8%. And the assets, considerable in both cases. How does an industry with such constraints manage to rank first in McKinsey's Digital Quotient study? Meet the industry disruptors: Online Travel Agencies. Sources : McKinsey Quarterly : Three snapshots of digital transformation - bit.ly/2jaNePB World Economic Forum / Accenture : Aviation, Travel and Tourism -- bit.ly/2AF2wWY Kalibri's Book Direct Report -- bit.ly/2nngozJ Expedia's a Roadmap to Travelers Attribution - bit.ly/2iaYsmn Executive Roundtable : the hotel distribution debate - bit.ly/2Asj3Lo Skift Magazine : Megatrends defining travel 2016 - bit.ly/2zI1zta eMarketer.com : How Marriot transformed itself - bit.ly/2zWZuhc eMarketer.com: Most travelers use search engines when planning a trip - bit.ly/2AppmiL Expedia Turns to Amazon Alexa for Its First Attempt at Voice Search- bit.ly/2fLcnk9