Amazon was once a plain old online book retailer. But, the company continues to transform, entering new areas such as cloud services and video streaming. Now, the tech giant is entering the travel reservation business, in a bid to take market share from established rivals such as Expedia and Priceline. 'Amazon Destinations' launched in late April, and it provides maps, lodging deals, and information about restaurants in top vacation destinations like Los Angeles, New York City and Seattle. The arrival of Amazon into the space may trigger sharper prices being offered for vacations, but could benefit the hotels as more volume appears. Choice Hotels International President and CEO Steve Joyce discusses the impact of Amazon on the travel reservation industry. Joyce, a past chairman of the International Franchise Association, also discusses McDonald’s and Wendy's recent efforts to put more power into the hands of franchisees.
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