Online Travel Agencies 4Q and Full Year 2014: Amid Consolidation, Relentless Competition

Summary

For online travel agencies, 2014 was a year defined by big growth (for most) and big deals (for some). Consolidation has fundamentally restructured the category, with two major OTAs poised to account for three fifths of global OTA gross bookings. This consolidation also places enormous pressure on smaller, regional OTAs who must still compete for the same consumers and negotiate at the same table with suppliers.