This benchmark research conducted for LastMinuteTravel.com by Penn, Shoen and Berland,* a market research and polling firm, surveyed nearly 1300 Internet users and is one of the most comprehensive studies of online travel habits that have been conducted to date. The study complements and expands on recent research conducted by PhoCusWright that reveals the size of the last minute travel market as some 25 million people in the U.S. alone.
"The fact that more than half of all business travel is booked within two weeks of departure and that nearly one in five vacations are planned within this abbreviated time frame proves that last minute travel isn't a niche but a full blown market," says David Miranda, CEO and founder of LastMinuteTravel.com. "The PhoCusWright research that indicates the size of the market and our own statistics which validate the breadth of the market are clear indications that we live in an 'I need it now world' and the Internet is facilitating this culture," adds Miranda.
Findings of the LastMinuteTravel.com research include:
Business Travelers
- 52% plan their travel within two weeks of departure
- 49% define last minute travel as departing within 24 hours
- 29% of business travelers currently use the Internet to purchase travel
- 67% are planning to purchase travel on the Internet within the next year
Leisure Travelers
- 17% plan their travel within two weeks of departure
- 25% define last minute travel as departing within 24 hours
- 39% of leisure travelers currently use the Internet to purchase travel
- 59% are planning to purchase travel on the Internet within the next year
"LastMinuteTravel.com was founded to serve this burgeoning and sophisticated market of last minute travelers," explains Miranda. "Our business philosophy is quite simple -- LastMinuteTravel.com is the 'go to' site for the smart last-minute traveler. We provide the resource that every last-minute traveler needs because we are constantly releasing the travel industry's best last-minute fares and rates in one place. When a last minute traveler checks our site he can have the ease of mind that if we don't have it, it's not out there."
LastMinuteTravel.com
Since its consumer launch earlier this year, LastMinuteTravel.com has distinguished itself among consumers as the first place to look when travel has to happen quickly. With hundreds-of-thousands of just-released travel offers at any moment, LastMinuteTravel.com provides consumers with instant access to continually updated travel opportunities from brand name providers without the anticipated last-minute penalties often imposed.
With more than 600 global travel and leisure providers, LastMinuteTravel.com offers access to the world's largest airlines including Delta, American, US Airways, Continental and Lufthansa, as well as Hyatt Hotels and Resorts, Hilton Hotels & Resorts, Holiday Inn, Swissotel, Carnival Cruise Line, Norwegian Cruise Line, Avis, and many other preferred travel and entertainment providers.
Shoppers may conveniently browse the dynamically updated listings at LastMinuteTravel.com and when ready to book, they are connected to premier providers worldwide. Unlike many other travel sites today, LastMinuteTravel.com charges no commission or transaction fees, saving both consumers and travel providers money.
In addition, LastMinuteTravel.com offers the services of My Travel Minder(TM), a free e-mail alert that automatically notifies customers when their requested travel and entertainment options become available. My Travel Minder continues to work as a personal travel planner -- even when the customer is not logged on the site.
Founded by travel industry leader, David Miranda, in April 1997, LastMinuteTravel.com is the first Internet-based enterprise that specializes in just-released travel and entertainment inventory. Headquartered in Atlanta, LastMinuteTravel.com has created an eMediary(TM) marketplace, where motivated sellers can target last-minute consumers in the most timely, efficient and cost-effective manner available.
For more information, please visit the company's site at www.LastMinuteTravel.com.
* Research conducted by Penn, Shoen and Berland. Media may obtain copies of the research upon request to LastMinuteTravel.com.