Speaking to BBC Radio Five Live's "Wake Up To Money" David Roche, senior vice president of online travel agent Expedia commented on the increasing extinction of the package holiday.
"The Thomas Cooks of this world have got two big millstones around their neck," he said, referring to the rival tourist agency that had to cut 2,800 jobs in order to cut their operating costs.
Mr Roche thought high street travel agents such as Thomas Cook depended too much on package holidays and on their retail presence, and were not as strong on the necessary online component.
More savvy customers, looking to choose their own holiday themselves and have the option to do so are driving the package holiday business model out of the market, he added.
Expedia allowed their customers to be "their own travel agents" added Mr Roche, giving full flexibility on departure and return dates.
The online travel business has been growing, as review sites and social networks based solely around travel allow holidaymakers to share information on their preferred destinations and recommend best places to go to.
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