It was bound to happen eventually.
Why you ask? Mark provides the answer:
There’s a misconception that travel blogs are all travel diaries. Some of these might be terrific, but the scope of the travel blogosphere is much larger. More and more, these blogs are influencing the way consumers, companies, and journalists get information. The Travvies try to take this breadth into account.
There’s no prize, other than the prestige that comes from recognition within the travel blog community. And that’s certainly worth more than any shiny trophy (although ludicrous bags of money would be nice).