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Travel and tourism is the leading application field in the b2c e-commerce, it represents nearly 50% of the total b2c turnover. Already in the past travel applications were at the forefront of Information Technology, i.e., the airline Computerized Reservation Systems in the early 60s. The industry and its product have rather specific features which explain this circumstance: the product is a confidence good, consumer decisions are solely based on information beforehand; and the industry is highly networked, based on world-wide cooperation of very different types of stakeholders. Consequently, this industry depends on advanced IT applications. As such travel and tourism may serve as an example of what happens and will happen in the emerging e-markets, pointing at structural changes as well as challenging application scenarios. The paper provides an overview about the industry, describes ongoing structural changes, outlines domain-specific requirements and discusses achievements and challenges in the field, following an AI and e-commerce point of view. It finishes with considerations regarding a future IT scenario.