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Hoteliers' concerns for survival have given way to cautious optimism. Economic recovery for hoteliers is fragile. Hospitality ADR improvement is regionally uneven. And overall ADR increases are stubbornly slow. The hotel business recovery is being dampened by continued value-consciousness from both the business and leisure segments.
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The cruise industry is experiencing a modest but welcome recovery in 2010 after a brutal 2009. The recession and subsequent collapse of demand forced cruise lines to slash prices, while the H1N1 crisis in Mexico in the first half of the year effectively killed a major destination market and created itinerary chaos in the Caribbean market. But the crisis has abated.
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Although 2008 and 2009 were among the worst years for U.S. airlines, 2010 is shaping up to be among the best. The 2008 oil price spike, which led to untenable fuel prices for airlines, was followed by a steep economic recession. The result was a dramatic decline in corporate demand for travel and, for airlines, those precious premium customers.
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While 2010 brought needed relief to Europe's online travel industry, growth for the year will be minimal. The recession slashed a wound across European nations that will not heal overnight - but it also pushed more travelers online to search for deals, boosting penetration in historically lagging markets. PhoCusWright's European Online Travel Overview Sixth Edition provides in-depth analysis and sizing for the total market and online leisure/unmanaged business travel, including trending by segment and channel for Europe overall as well as six key individual markets - France, Germany, Italy, Scandinavia, Spain and the U.K.
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PhoCusWright evaluates 10 platform providers and compares their products side by side for a representative view of the marketplace.
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Vacation rental has emerged as a major marketplace, representing nearly $25 billion in rental revenue. PhoCusWright partners with Compete to assess the size of the online vacation rental market, identify key trends in online vacation rental shopping, and update select metrics from our 2009 report, PhoCusWright's Vacation Rental Marketplace: Poised for Change.
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PhoCusWright's Canadian Online Travel Overview Second Edition: 2007-2011 provides updated market sizing and projections through 2011 as well as an in-depth analysis of the major trends in online travel and distribution, including consumer behavior, the effects of the global recession, and the dynamics of social media and mobile.
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Travel companies operating in Canada can no longer rely on their 'online strategy' or their 'Canada strategy;' they must have a Canadian online travel strategy. This Online Event delivers market intelligence, consumer insights and key trends that companies need to get ahead in Canada.
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An audio/video recording and presentation deck of the May 26, 2010 Online Event providing an overview of the status of consumer travel in the U.S., and insights into key indicators for the upcoming year.
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PhoCusWright partnered with Experian Hitwise to track and analyze Canadian Web traffic within the travel arena. Understanding online travel traffic patterns sheds light on traveler shopping behavior and provides insight into the market dynamics across travel sectors.
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