One part of the lobby of the Booking.com headquarters in Amsterdam. The online travel agency is the largest unit in Booking Holdings, which reported earnings on Thursday. Booking.com

Skift Take: Falling victim to the so-called law of large numbers, Booking Holdings saw its total revenues for the first quarter drop 3 percent from the prior year. Industry ears perked up when CEO Glenn Fogel mentioned mergers and acquisitions as a possible tactic to reignite growth a few times during an investor conference call.

— Sean O’Neill

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