Lodging Drives Steady Growth in U.S. Travel Market - Phocuswright Research
"Strength in the lodging sector continues to benefit OTAs as travelers turn to them to sort through options and find deals in a fragmented market," says Phocuswright's senior research analyst, Maggie Rauch. "The health of the lodging sector is also constricting online penetration gains, as call centers and walk-ups account for more than half of hotel bookings."
OTAs widened their lead over suppliers' online channels in 2015 – OTA bookings increased 10%, compared to 5% for suppliers – and they show no sign of slowing down in the short term. Online agencies will remain the fastest-growing online channel through 2017.
Overall, online channels are no longer growing by double digits. In 2015, 45% of U.S. travel bookings were made online, vs. 47% in Europe. By 2017, online and offline channels will grow at the same rate, as the U.S. online travel market hits $171 billion.
Phocuswright's U.S. Online Travel Overview Fifteenth Edition provides comprehensive market sizing and forecasting, and actionable insights into the U.S. travel market.
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Northstar Travel Group is the leading provider of business-to-business news, information, data, transactions and custom content solutions for the travel, meetings and hospitality industries. Brands under the Northstar umbrella include Travel Weekly, Travel Weekly China, Travel Weekly Asia, TravelAge West, Business Travel News, Phocuswright, Meetings & Conventions, M&C China, Web in Travel and Inntopia. Northstar is the industry leader in marketing solutions, custom content communications, content licensing and database management serving the travel and meetings industries. The company produces more than 52 face-to-face events, taking place in North and South America, Europe, Asia and the Middle East. Northstar is based in Secaucus, NJ, and is a portfolio company of EagleTree Capital. www.northstartravelgroup.com
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EagleTree Capital (formerly Wasserstein Partners) is a mid-market private equity and investment company focused on the media and communications, consumer products and water and industrial sectors. The firm manages capital on behalf of institutional and individual investors and is currently investing EagleTree Partners IV. EagleTree Capital is located in New York. www.eagletree.com