Is Online Travel's Future Uncertain?
The U.S. online leisure/unmanaged business travel market continues to grow at a pace that far exceeds the overall travel market&#’;s rate of growth, according to the new report, PhoCusWright's U.S. Online Travel Overview Seventh Edition.
The report also projects that online travel market growth rates will continue to be at or near triple the rate of growth of the entire travel market through 2009.
PhoCusWright finds that the online leisure/unmanaged business travel market will surpass US$94 billion in 2007, to comprise more than one-third of total travel sales. The total travel market encompasses offline leisure/unmanaged business and on- and offline corporate travel.
PhoCusWright's U.S. Online Travel Overview Seventh Edition is the most comprehensive look at travel distribution and marketing trends in the country. Also among its findings about the trends and competitive efforts that are driving change in the industry:
- Online travel agencies are lagging in integration of Travel 2.0 tools and will need acquisitions or partnerships to catch up.
- All travel companies must embrace the consumer desire to shift among online and offline channels.
- Packaging components such as air, car, hotel plus local tours, spa treatments, golf, events and other destination services allow hotels and online travel agencies to upsell the customer and combat commoditization.
The report also analyzes:
- Distribution shifts and other trends in each travel supplier segment (airline, hotel, car rental, vacation packages, rail and cruise);
- Online travel agency developments and the outlook for this channel;
- Evolving technologies and consumer behaviors; and
- Historical and projected segment gross bookings and growth, as well as channel share.
For more information or to order this report, visit www.phocuswright.com/reports/oto-7 or contact PhoCusWright Sales via email or +1 860 350-4084 x501.
This report is accessible at www.phocuswright.com for Global Edition subscribers.
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