Despite increased rates and increasing economic pressures last year, hotel was the top component purchased by online travel shoppers in the U.S., beating out airline tickets, according to a recent report.
The report, The PhoCusWright Consumer Travel Trends Survey Tenth Edition, finds that this growth can be ascribed, in part, to consumers' need for a change in venue to really disengage when traveling for leisure. Travel buyers also enjoy the ability to find deals, inventory and more unique hotel options online than ever before.
"Online travel agencies benefited well from this trend, attracting consumers through great availability at a wide breadth of hotel options," said Susan Steinbrink, senior research and corporate market analyst at PhoCusWright. "But they too will feel the impact that the 2008 recession and flight capacity reductions will have on the hotel sector."
The PhoCusWright Consumer Travel Trends Survey Tenth Edition is a nationally representative survey of online travelers that collects data on and analyzes a range of travel shopping and purchase behavior. While focusing primarily on leisure travelers, this edition also probes the behavior of frequent business travelers.
Also among the report's findings:
The U.S. travel market continued its growth in 2007, and saw an upswing in the online traveler population, defined as adults who have taken a commercial air trip and stayed at a hotel for leisure in the past year, and used the Internet in the past 30 days.
With half of online travelers using the same purchase channel for leisure as they do for business travel, providers have a robust opportunity to cross-sell.
Social media dominates as online travelers turn more often to other travelers and their experiences than to published and expert sources for travel information.
To learn more or to order The PhoCusWright Consumer Travel Trends Survey Tenth Edition, visit www.phocuswright.com.
About PhoCusWright Inc.
PhoCusWright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased, PhoCusWright fosters smart strategic planning and tactical decision-making.
PhoCusWright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. Our marketplace intelligence is the industry standard for segmentation, sizing, forecasting, trends, analysis and consumer travel planning behavior. Every day around the world, senior executives, marketers, strategists and research professionals from all segments of the industry value chain use PhoCusWright research for competitive advantage.
To bring this intelligence to life, PhoCusWright produces several high-profile conferences in the U.S., Germany and India, and partners with conferences in the U.K., China and Singapore where industry leaders gather to debate issues, share ideas and define the ever-evolving reality of travel commerce.
The company is headquartered in the United States, with offices in Germany and India.