I realize the subject matter of this question is a bit sensitive and I ask it with the upmost respect. If my understanding is correct the powers of Europe were at their heights during the 18th and 19th centuries while the once formidable Ottoman empire had begun to stagnate. If this is true why was there no effort to take the holy land, not including the Sykes-Picot agreement after WWI?
In the 18th century, while the Ottomans were on a constant decline, they were mostly under threat by powers like Russia, Austria and Persia. It wasn't until the 19th until others started to pick on the bones.
As far as "colonialism" went, the Europeans had no reason to invade and annex Palestine. Religion had become more secular and the great powers were already pre-occupied with each other.
After the Ottomans pretty much ended the idea of crusades succeeding, the desire of liberating the middle east became a non factor.
The crusades really only ever worked with a morally united christian army and allies on the way to middle east to rely on. Absolutists like Austria or Russia would never have allowed their enemies to cross their borders like that. There was simply too much rivalry at play. Europe was starting to break free of Feudalism.
It's also healthy to note that Jews in particular felt safe in Ottoman lands as they had taken refuge there after being expelled from nations such as Spain. They likely would have been against the idea of a European Palestine.
It would have been a useless war that would have costed the invaders too much. We're talking about landing troops in a shoreline desert protected with forts, and a still somewhat reliable Ottoman army (which would have secured a guaranteed, swift victory in the given circumstances.)