many if not most on FT spend 'a lot' of time researching and booking.

negotiations require information, some of which is found on websites besides the hotel's.

many on FT book direct. also including with airlines.

many on FT book through OTAs for some kind of benefit. i presume you are aware of the various OTAs and retailers that involve cashback or mileage earning rewards or portals. is there sometimes an awful lot of work and time involved? does it sometimes seem to be chasing not much return? not necessarily the point. but its good to discuss so that all options and choices continue to evolve, hopefully making market better for most/all.

many on FT earn status. while some aspects of status are hard to assign a value to, many aspects of status receive an inflated perceived value, and other aspects do not actually require the status to obtain.