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In spite of some early-stage funding contraction, the travel startup ecosystem is alive and well. This article explores the state of innovation in travel and highlights the top trends and developments, based on the innovators who participated in Phocuswright’s Innovation Platform events in 2018. Presenters are grouped into categories based on area of focus, and key trends are summarized.Analyst: Michael ColettaTopic: Technology InnovationResearch Type: Report
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The total U.S. travel market is projected to expand a healthy 5% in 2018, while growth in online bookings continues to outpace the broader market. Although supplier websites are expected to grow slightly faster than OTAs, the balance between suppliers and intermediaries will remain unchanged through 2022. For suppliers and intermediaries alike, mobile transactions represent the strong channel for growth. This market sheet provides quick and easy access to U.S. travel market sizing data from 2016-2022, including key sectors, segments and distribution channels.Analysts: Coney Dongre, Lorraine Sileo, Maggie RauchTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Cruise, Hotels & Lodging, Online Travel Agencies, Rail, Tours & PackagesRegion: U.S. & CanadaResearch Type: Report
Despite economic and political challenges in the region, Europe’s travel market continues to expand. Gross travel bookings were projected to climb 2% in 2018, with most supplier segments projected to notch at least modest gains. Online bookings are advancing faster than the overall market, and most of the online growth is now coming from suppliers’ and OTAs’ mobile platforms. This market sheet contains, in spreadsheet format, the sizing data published in Phocuswright's Europe Online Travel Overview 2018 report, with quick and easy access to 2016-2022 data on key travel markets, segments and distribution channels.Analysts: Coney Dongre, David Juman, Ralph Merten, Benedikt Hofmeister, Linda SchmidtTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Cruise, Hotels & Lodging, Online Travel Agencies, Rail, Tours & Packages, Traditional Agencies & TMCsRegion: EuropeResearch Type: Report
Phocuswright has tracked the launch of more than 80 travel-focused accelerators, incubators, early-stage investors and entrepreneur support programs in the last 5-7 years, not to mention dozens of pitch competitions, hackathons and conferences, including our own. Each promises to connect travel startups with a combination of industry expertise, resources, capital and exposure, and contributes to what is now a robust travel startup support ecosystem. These programs and entities have sprung from intermediaries, suppliers, destinations, investors and independent groups.Analyst: Michael ColettaTopic: Technology InnovationResearch Type: Report
The U.S. travel market is projected to grow a healthy 5% in 2018, benefiting from positive economic performance. Online travel growth continues to outpace the overall market, and although supplier websites are expected to grow slightly faster than OTAs, the balance between suppliers and intermediaries will remain unchanged through 2022. This report provides comprehensive market sizing and projections for the U.S. travel industry from 2016-2022, and includes analysis of the key trends and players that are shaping the market.Analysts: Cathy Walsh, Lorraine SileoTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Cruise, Hotels & Lodging, Online Travel Agencies, Rail, Tours & Packages, Traditional Agencies & TMCsRegion: U.S. & CanadaResearch Type: Report
Online travel agencies’ share of the U.S. travel market is projected to hold steady in 2018 at 19%, and hotels remain the biggest segment for OTAs. The battle between intermediaries and suppliers for online dominance remains fierce, and OTAs currently capture 38% of online bookings. Expedia and Booking.com maintain their grip on the OTA market, with a combined 92% share of OTA gross bookings. This report provides a high-level overview of the U.S. OTA landscape, including key players, segment and distribution analysis, and sizing projections through 2022.Analysts: Alice Jong, Cathy WalshTopic: Market Overview & SizingSegment: Online Travel AgenciesRegion: U.S. & CanadaResearch Type: Report
Expedia and Booking.com continue to dominate the U.S. online travel agency space, and the two are making deeper inroads into segments outside flights and hotels. The two segment leaders, along with other key players such as Google and TripAdvisor’s Viator, are actively targeting the travel activities market. Meanwhile, OTAs seek other ways to gain an edge, and are exploring voice, machine-learning and chat-based functionality. This report explores the most notable trends and stories that are currently impacting the U.S. OTA landscape.Analysts: Alice Jong, Cathy WalshTopic: Market Overview & SizingSegment: Online Travel AgenciesRegion: U.S. & CanadaResearch Type: Report
The advent of basic economy fares has enabled full-service U.S. airlines to offer unbundled services and compete with LCCs more effectively. Offers continue to evolve as airlines try various bundles and combinations to see what gains traction. Therefore, the shopping and booking experience is now supported by richer content as airlines seek to differentiate their basic fare offerings and ancillaries. In 2018, ancillaries account for 12% of U.S. airlines’ passenger-related revenue, and this share is expected to continue trending upward. This report presents a high-level summary of the U.S. airline segment, focusing on the need-to-know developments, trends and stories that are impacting the market now.Analysts: Michael Gerra, Cathy Walsh, Maggie RauchTopic: Market Overview & SizingSegment: AirRegion: U.S. & CanadaResearch Type: Report
U.S. airlines are projected to notch a second consecutive year of 5% revenue growth in 2018, fueled by steady capacity additions, an uptick in passenger volume, improved yield and growth in demand for ancillaries. Despite a highly consolidated market – the top four airlines account for more than 80% of flown revenue – competition remains fierce among airlines and across distribution channels. This report provides complete sizing and analysis on the U.S. airline segment, including online and mobile bookings, distribution trends, OTA versus supplier dynamics, and projections through 2022.Analysts: Michael Gerra, Cathy Walsh, Maggie RauchTopic: Market Overview & SizingSegment: AirRegion: U.S. & CanadaResearch Type: Report
The U.S. hotel industry, which has grown at a healthy pace since 2010, has turned cautious in light of mixed economic indicators in 4Q18. Nonetheless, the U.S. hotel market is forecast to rise 5% in 2018, with 4-5% YoY gains over the next few years. This report provides complete sizing and analysis on the U.S. hotel & lodging segment, including online and mobile bookings, private accommodation sizing, distribution trends, OTA versus supplier dynamics, and projections through 2022.Analysts: Lorraine Sileo, Cathy WalshTopic: Market Overview & SizingSegment: Hotels & LodgingRegion: U.S. & CanadaResearch Type: Report