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Despite the pervasive fragmentation of the market, group buying has serious potential in European travel. The key for suppliers is appealing to the unique preferences of individual country markets. With economic growth across most of Europe stuttering, Europeans have taken to holidaying within the continent and are taking shorter but more frequent domestic holidays.
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Independent hotel properties and chains alike struggle with demand management, especially since this segment of the hospitality industry is changing so rapidly. This article takes a look at the dynamics of the demand management industry and at what its future holds.
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With a mature Internet population and the highest online travel penetration rate in Asia Pacific, Australia is home to a highly developed and thriving online travel marketplace. Travel websites represent one of the most visited Internet categories in the country. PhoCusWright has partnered with global digital intelligence provider comScore to measure and analyze Australian Web traffic within the travel category.
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Ownership of the in-destination traveler experience is extremely fragmented, leaving marketers lots of room for opportunity. While approaches to customer acquisition in this space are varied and many, each comes with its own challenges.
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Thanks to network expansion, increases in convenience, and deregulation, online rail distribution in Europe is growing. While this growth faces major barriers, various groups are working to surpass these challenges.
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This one-hour recorded PhoCusWright Webinar outlines the top 10 trends impacting the travel industry and sets the stage for the next wave of innovation. Bob Offutt, senior technology analyst and editorial director, Innovation Edition, assesses each opportunity based on what is happening, what needs to happen and who is making it happen via example.
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While online travel agency growth is slipping in more mature markets, it is gaining strength in emerging markets. Local OTAs are taking the lead in the latter – but don't count global OTAs out yet, as they are investing heavily in these markets in efforts to catch up.
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While Asia Pacific's total travel market declined during the recession, online travel agencies experienced striking growth. Hotels accounted for the vast majority of these bookings and air held second place, though these dynamics vary by market. Most markets in the region are led by local OTA brands, many of which are expanding their reach outside their home turf. Global OTAs, in efforts to catch up and drive growth, are increasingly investing in the region.
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Online rail bookings are on the rise in Asia Pacific, but obstacles in emerging markets - such as Internet access and online payment adoption - still hinder growth. Rail penetration is highest in India, Japan and China, and the latter two account for the vast majority of the region's rail bookings.
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While still dealing with the effects of the recession, the travel industry is entering a period of recovery - a renaissance that applauds and sustains new ideas, new approaches and new discoveries. PhoCusWright's technology trend predictions for 2011 reflect both this idea-laden environment and a consumer who is more empowered than ever before, equipped with access to unprecedented amounts of information.
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