News for the Hospitality Executive
SHERMAN, CT--(Nov 10, 2011) - By the end of 2011, the U.S. travel market will fully recover ground lost during the recession. The market will surpass 2006 levels to reach a high of US$277 billion, according to travel industry research authority PhoCusWright, in the new report "PhoCusWright's U.S. Online Travel Overview Eleventh Edition" (www.phocuswright.com/products/3996). Corporate travel has continued to rebound, and the online leisure/unmanaged business travel market will maintain double-digit gains through 2011.
Yet despite the upward swing, the outlook for 2012 and beyond is clouded with uncertainty.
"Do not let travel's impressive performance in 2011 mask some concerning underlying trends," says Douglas Quinby, senior director, research. "The gains have largely been fueled by the corporate travel rebound and tight airline capacity. The leisure environment overall is soft, and continued high unemployment and consumer pessimism over the state of the economy make for a challenging outlook for 2012."
After its only decline on record in 2009, the U.S. online leisure/unmanaged business travel market will grow 10% in 2011 to reach $109 billion. With a struggling U.S. economy, online travel growth will slow to single-digit gains over the next two years, trailed by the overall travel market.
"PhoCusWright's U.S. Online Travel Overview Eleventh Edition" is a comprehensive analysis of the U.S. travel industry, providing market sizing and growth forecasts for the total travel market and all major distribution channels through 2013. The report also provides in-depth analysis of the U.S. online leisure/unmanaged business travel marketplace, highlighting marketing and distribution trends for all travel segments including air, hotel, car rental, vacation packaging, rail and cruise. It tracks distribution shifts among supplier websites and online travel agencies, as well as major offline channels. The report analyzes trends in market share, technological innovation and consumer behavior to provide a detailed overview of travel distribution in the U.S.
ABOUT PHOCUSWRIGHT INC. (www.phocuswright.com)
PhoCusWright, the travel industry research authority, fosters smart strategic planning and tactical decision-making by delivering primary research on the evolving dynamics that influence travel, tourism and hospitality distribution. To complement its research in North America, Europe and Asia, PhoCusWright partners with and produces several high-profile conferences around the world.