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1 in 3 travel startups are lodging-centricJanuary 2022
Led by an acceleration of short-term rental startups, highlighting the consumer opportunities and related B2B technology and distribution needs of the segment, Lodging startups have collectively raised $12.4B since 2010.
The Critical Role of Independent Distribution in the U.S. Travel IndustryJanuary 2022
The U.S. travel sector has been badly affected by the COVID-19 crisis, although there are encouraging signs of a rapid recovery. Gross revenue is rallying and full recovery to 2019 levels is expected within the next several years.
Latin America travel market poised to hit $62.1B revenue by 2024January 2022
In the LatAm travel market, uncertainty is still present and travel companies must keep an observant position to see what happens in the coming months. However, with the new year upon us, the worst is behind the Latin America travel market. Here’s a complete overview of the LatAm market, with projections for 2022 in gross bookings, booking and channel data, a breakdown of country-specific data,...
Travel Tech: Creating Value and Driving RecoveryJanuary 2022
Return to 2019 revenue levels and growth is expected by 2025, as the recovery of the sector will be steady but slow. Given their key role in connecting buyers with sellers, travel intermediaries will play a significant role in this process.
7 gaps between AI proof vs. promiseJanuary 2022
The vision of completely automated, personalized processes using AI remains perfectly valid, but the reality of today's AI technology reflects a field that is still very much in the emerging stage. All AI initiatives should focus on enhancing human services, not just replacing them, and account for current limitations while planning for the future capabilities of AI technology.
Understand the startup landscape with these 10 findingsDecember 2021
Phocuswright's latest analysis of the travel startup landscape reveals unique trends, problems and solutions that new entrants face in today's industry. The story of funding, acquisitions, favored verticals and founding geographies portray an evolving industry that companies of all segments and stages should pay attention to.
Everything you need to know about short-term rentalsDecember 2021
New Phocuswright research explores how travelers view the strengths and weaknesses of hotels and short-term rentals, how they decide where to stay, and how providers across lodging categories can better cater to consumer demand.
SPACs and the future of travel investingNovember 2021
In the fourth quarter of 2020, the travel industry witnessed a frenzy of businesses planning to go public via special purpose acquisition companies (SPACs).
The decentralized computing future of travelNovember 2021
From a broad perspective, decentralized computing - and especially the implementation of smart contracts - brings a new level of transparency to the travel industry.
10 things to know about the short-term rental travelerOctober 2021
Ahead of the publication of Phocuswright's fifth comprehensive research study on the short-term rental segment, here are 10 things to know about the short-term rental traveler, including who they are, their unique perspectives and lodging consideration sets.
Where Gen Z likes to travel and stayOctober 2021
Understanding Gen Z's unique spend patterns, planning preferences, travel interests and trip types allows companies to adapt their approach to this audience accordingly. Discover where they like to travel and stay.
Big tech regulation and travelOctober 2021
Calls to regulate Big Tech players including Alphabet (Google), Apple, Facebook and Amazon - as well as Chinese powerhouses like Alibaba and Tencent - have grown continually louder, especially after last week's hours-long outage of Facebook products, including global communication tool WhatsApp and Instagram. The current regulatory frenzy could impact the travel industry in several ways.
7 in 10 travelers prioritize flexible bookingOctober 2021
Buying travel that has lenient cancellation, rebooking or refund policies is considered more important now than in pre-COVID days. However, most feel the burden should fall to travel companies. Travel companies are expected to maintain high standards of service, including in their policies regarding trip changes.
Travel expected vs. bookedSeptember 2021
As the world continues to navigate the pandemic, leisure travel is still sought after and valued by a plurality of travelers with age demographics playing a significant role in how travelers will proceed. Here’s a snapshot of consumer travel products expected in 2021 vs. booked in 2019/2020.
Rebuilding growth is a priority, but so too is reviving SE Asia's pre-pandemic dynamismSeptember 2021
In the immediate future, a regional travel recovery will hinge on the interplay of three factors: the trajectory of the Delta variant, speed of national vaccination programs and shifts in government border policies. In August 2021, Singapore signaled its intention to gradually ease border restrictions with selected 'low-risk' countries. Other governments in the region are expected follow its lead...
5 APAC market developments to knowSeptember 2021
Strong brands, superior customer experience, increased suppliers' reliance on intermediaries, customers' inclination to use OTAs, and traditional agency business transition to online channels acted as a tailwind for OTAs growth. Here are 5 developments to keep your eye on.
5 key developments in the Russia travel marketSeptember 2021
Whether using online or offline distribution channels, Russians are rediscovering the tourism gems that their homeland offers, despite the pandemic restrictions. These types of in-country trips will fuel revenue increases for Russia's airlines, hotels, railways and tour operators in 2021. Here are 5 key trends and developments in the Russia travel market.
3 key behaviors of Gen Z travelersSeptember 2021
Gen Z (born 1997-2003) is the youngest generation to come of age and contribute to overall travel spend. In contrast to their predecessors, these younger travelers are digital natives with an intuitive knack for all technologies that will help them reach their goals. Their booking behaviors align with their generational desires for flexibility and budget-consciousness.
OTAs vs. Supplier-direct bookings in Eastern EuropeAugust 2021
While case counts fluctuate in mid-2021 and vaccine hesitancy persists, regional and domestic travel are the main lifeline for the industry. Recovery is taking foot, but unrolling slowly. In most segments, online penetration is rising, with particularly high mobile search use.
5 charts in 5 minutes: The current state of funding for travel startupsAugust 2021
Pete Comeau, managing director, Phocuswright, shares 5 charts that illustrate the current state of the travel startup market: Funding by verticals, horizontals, funding annual change and more.
5 new developments on the business side of NDCAugust 2021
The debate continues surrounding the utility and economic feasibility of New Distribution Capability (NDC). The XML standard launched by IATA clearly solves certain issues, while not totally addressing a few technology gaps. Recent partnerships between airlines, GDSs and OBTs reveal economic-oriented objectives, but simultaneously pose some concerns regarding financial feasibility and technological...
A snapshot of airlines, hotels & lodging, rail and car rental in ChinaJuly 2021
Domestic travel demand in 2021 will approach 2019 levels, enabling 54% growth that would push total travel bookings to US$127 billion. We've outlined key trends and data for four major segments in China’s travel market.
Profile of a loyalty memberJuly 2021
Loyalty members enjoy special treatment from brands and appreciate a streamlined experience of knowing their favorite providers will serve them well, time and time again. That loyalty, however, is conditional on travel companies continuing to fulfill their customers' needs.
OTA bookings projected to climb 55% in EuropeJuly 2021
Demand for leisure travel will escalate quickly, and OTAs are primed for a strong recovery. In 2021, OTA bookings are projected to climb 55%, with more modest (yet still double-digit) gains in subsequent years.
A snapshot of consumer behavior and sentimentJune 2021
In 2020, those who did opt to travel planned their trips differently. With a longer research stage and more all-online bookings, U.S. consumers made significant changes to their shopping behaviors.
5 things to know about products and purchase habits of U.S. travelers in 1 minuteJune 2021
More than three in five travelers plan to take a trip in 2021, as the impact of the pandemic eases.
Health changes that would increase comfort of traveling according to U.S. consumersJune 2021
According to U.S. travelers, health and safety-related points were the most cited factors for increasing comfort in traveling again.
Two key developments in Japan's travel marketJune 2021
Consumer confidence, international border reopening and vaccination timelines will determine the progress of travel market recovery in Japan. Two key developments in this travel market revolve around airlines and dynamic packaging.
5 things to know about U.S. traveler intentions in 2021 in 1 minuteJune 2021
2021 paints a polarized picture, featuring both hesitancy and a strong desire to resume travel. The impact of the coronavirus pandemic affects all travel segments and traveler demographics, but in distinct ways.
Three important questions on touchless techMay 2021
Many industry sectors have already implemented touchless technology, but important questions remain around how the industry is progressing.
5 things to know about the Middle East travel market in 1 minuteMay 2021
Though the total Middle East travel market declined 64% to US$29.5 billion in 2020, key markets in the region are showing clear signs of recovery, and are projected to gradually return to pre-pandemic levels over the next four years. Here are 5 things to know in less than 1 minute.
Phocuswright trend watch part 3: Digitization is a must for recovery in one minuteMay 2021
This one-minute video highlights four key dimensions in which change is taking place: business model, business process, organizational structure and business scope.
The cause of major channel shifts in CanadaMay 2021
In Canada, major channel shifts will continue through 2024 as online bookings expand. Momentum for airlines will give the supplier-direct online channel a projected 35% share of total gross bookings versus 29% in 2020.
4 key findings of the U.S. corporate travel market in less than 1 minuteApril 2021
4 key findings around market size, policy & compliance, recovery expectations and priorities of travel managers.
Earning points and loyalty: Branded vs. redemption credit cardsApril 2021
Though consumer adoption is high, one of the inherent hurdles of loyalty programs is the infrequency of travel in a year, limiting travelers' opportunities to earn points and perks. Travelers have turned to travel credit cards to be rewarded for their purchases (more regularly, and not just on travel spend) and access travel benefits. Continue reading for top factors when deciding on card and...
How corporate travel will develop in the years to comeApril 2021
The corporate recovery will begin slowly, with gross bookings growing just 10% in 2021. Growth will accelerate the following year, and the corporate market is expected to grow to $121 billion by 2024.
Unique online dynamics in China's travel marketApril 2021
China is unique among the world's travel markets in that (among other factors) it took a major leap from offline to mobile and Google plays almost no role in travel discovery and shopping. Here's why China's online distribution has matured faster than other travel markets.
7 principles for a standard health passport: Can travel get it right?April 2021
Several health passport design principles are emerging and initiatives should agree upon these 7 consolidated standards during development.
5 numbers to remember about the China travel market in 1 minuteApril 2021
In less than 1 minute, we present 5 critical numbers that we’ve dug out of our latest research report China Travel Market Report 2020-2024.
State of the segments: U.S. travel market in 1 minuteApril 2021
A quick look at the state of 7 segments: airlines, hotel & lodging, cruise, car rental, packaged travel, rail and OTAs – including projections and current developments.
4 big picture key findings in less than 3 minutes on the U.S. travel marketApril 2021
These are 4 big picture key findings from Phocuswright's latest travel research report: U.S. Travel Market Report 2020-2024.
5 charts in 3 minutes: APAC regionMarch 2021
Phocuswright's managing director Pete Comeau presents 5 charts in 3 minutes about the APAC travel market, including recovery projections for China and Australia-New Zealand and air search trends by country.