Online Travel Bookings to Surpass Offline Bookings in 2007
There have been significant ownership changes in the industry with the private equity buyouts of Cendant (renamed TravelPort) and the recent Sabre Holdings (owner of Travelocity), as well as TravelPort’s purchase of Worldspan.
Other insights from PhoCusWright’s U.S. Online Travel Overview include:
- While the U.S. represented just one third of total online and offline travel bookings of the combined North America, Western Europe and Asia Pacific markets in 2005, the U.S. share of online bookings was over 60% of all online bookings.
- Growth of dynamic packaging—the ability of consumers to easily combine airline, hotel, rental car and other product purchases online—is projected to slow significantly from 51% in 2005 to 18% in 2008.
- Hotels will be the fastest growing segment online, surpassing air travel.