http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Fri, 19 Jun 2009 00:00:00 +0000 PhoCusWright Research Subscriptions: Global Edition - releases http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Top U.S. Consumer Trends: Travel Behavior and Beyond This analyst briefing covers highlights from PhoCusWright’s Consumer Travel Report report published in May 2009. You can view and download the presentation here. Note: If you download the webinar, you will need a Webex player. If you do not have one installed, please download the player here. Fri, 19 Jun 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Online Travel Agencies 1Q09: Outperforming in a Recession Generally when a company reports a double-digit decline in gross sales, that is not a good thing. So when shares of the two largest online travel agencies (OTAs) – Expedia and Orbitz – rallied on the days of their 1Q09 earnings calls to the tune of about 24% and 17% (respectively), this revealed just how bad things are for the travel industry in 2009. Tue, 02 Jun 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright’s Destination Marketing: Understanding the Role and Impact of Destination Marketers Destination marketers play a unique role in the leisure travel marketplace, positioned as they are at the crossroads betweens travelers and travel suppliers. At the heart of leisure travel lies the destination, which drives the itinerary and all of the components purchased along the way. At the heart of each destination lie destination marketers. Thousands at the national, state, regional and local levels play a vital role in stimulating travel demand. This largely untapped sector represents an enormous Long Tail opportunity for travel suppliers and intermediaries, technology vendors and service providers. For destination marketers, the explosion of online consumer tools and technologies provide unprecedented potential to connect with travelers and promote their destinations in new and effective ways. At the same time, destination marketers face challenges ranging from funding constraints to navigating social media that are forcing many to take a close look at what they need to do to remain competitive and relevant. PhoCusWright’s Destination Marketing: Understanding the Role and Impact of Destination Marketers represents a major research effort to analyze this important segment, with the goal of identifying key trends and capabilities and understanding the role of destination marketing in the global travel market. This report presents key findings and recommendations from the larger research project. Mon, 01 Jun 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright's Consumer Travel Report Part Two: Psychographic Trends For 10 years, PhoCusWright rigorously tracked online consumer trends with The PhoCusWright Consumer Travel Trends Survey (CTTS). This landmark survey has served as the standard in the travel industry for understanding channel trends and their impact on the marketplace. Looking back to 1997, air travel was by far the most popular travel product sold online and online surveying was likely to produce skewed results. Focusing on air travelers was relevant and surveying via telephone was necessary. However, it became apparent that it was time for a reboot as the industry matured. The result is PhoCusWright’s Consumer Travel Report (CTR). This report sets new foundations: surveying through online methods and opening the definition of “traveler” to include those who have taken trips including air and/or hotel. Another major change from CTTS is a difference in some of the terminology used in this report. With Internet penetration past the 80% mark among U.S. adults, the reference to travelers with Internet access as “online travelers” has become superfluous. CTR’s differences are not limited to methodologies. The research delves into fine gradations of behavior, which today’s mature online travel market demands. Additionally, traveler attitudes and motivators were layered in to give meaningful context to their behavioral trends. The goal of CTR is to retain the core value of CTTS while introducing new, highly relevant, actionable insights into the U.S. leisure traveler. This report is second of a two-part series. Part Two of CTR provides psychographic analysis of U.S. travelers to examine how values, attitudes and opinions shape traveler behavior. Wed, 27 May 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Update 2009-2010 This analyst briefing covers highlights from PhoCusWright’s Online Travel Overview Report Update 2009-2010 report published in April 2009. You can view and download the presentation here. Note: If you download the Webinar, you will need a Webex player. If you do not have one installed, please download the player here. Mon, 27 Apr 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list European Online Distribution – Part Two: Managing European Hotel Online Intermediaries Hotel chains and individual hotels alike cannot neglect the importance of online intermediaries, an essential component to maximizing revenue and market share. Online intermediaries contribute heavily to the development of the total European online travel market, accounting for about one third of Europe’s total online gross bookings and almost 45% of 2008’s market growth. Online travel agencies (OTAs) specializing in hotel distribution have pulled ahead of the pack and remain the growth leaders among European OTAs. Despite the continued increase in supplier direct Web site bookings, collaborations with online intermediaries are – and will remain – essential for a hotel’s competitive online performance. The most fundamental benefit of collaborating with online travel agencies is undoubtedly incremental hotel sales, but OTAs also provide improved global reach to a huge traveler audience, supported by refined usability and advanced functionality, as well as sophisticated technological features ranging from videos to avatars. The “billboard effect,” when consumers shop on OTAs but book on hotel Web sites, should be considered an additional benefit for hoteliers. This is the second part of a two-part report and focuses on providing hoteliers with more insight on how to reap the benefits of partnerships with online travel agencies. The analysis illustrates that an optimal intermediary distribution strategy requires a profitable business model (OTA channels for targeted consumer groups) and efficient technologies and connectivity. Wed, 22 Apr 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Eighth Edition Update: 2009-2010 Since PhoCusWright’s U.S. Online Travel Overview Eighth Edition was published in November 2008, economic conditions have deteriorated rapidly. The events leading up to the economic decline are many: sharp drops in the stock market, a deepening financial crisis that has severely stifled credit markets worldwide, depressed housing prices and a continuing rise in the jobless rate (reaching 8.5% in March and expected to continue moving upward). The U.S. is now in a full-blown recession (and probably has been in one for most, if not all, of 2008). Wed, 22 Apr 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Analyst Briefing: PhoCusWright's Mobile: The Next Platform for Travel This analyst briefing covers highlights from PhoCusWright’s Mobile: The Next Platform for Travel report published in March 2009. You can view and download the presentation here. Note: If you download the webinar, you will need a Webex player. If you do not have one installed, please download the player here. Tue, 21 Apr 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright's Consumer Travel Report Part One: Behavioral Trends For 10 years, PhoCusWright rigorously tracked online consumer trends with The PhoCusWright Consumer Travel Trends Survey(CTTS). This landmark survey has served as the standard in the travel industry for understanding channel trends and their impact on the marketplace. Looking back to 1997, air travel was by far the most popular travel product sold online and online surveying was likely to produce skewed results. Focusing on air travelers was relevant and surveying via telephone was necessary. However, it became apparent that it was time for a reboot as the industry matured. The result is PhoCusWright’s Consumer Travel Report (CTR). This report sets new foundations: surveying through online methods and opening the definition of “traveler” to include those who have taken trips including air and/or hotel. Another major change from CTTS is a difference in some of the terminology used in this report. With Internet penetration past the 80% mark among U.S. adults, the reference to travelers with Internet access as “online travelers” has become superfluous. Mon, 20 Apr 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Travel Industry Economics: Dismal But Not Desperate This article first considers what got us into the current economic mess and then what will get us out, focusing on items relevant to the U.S. travel industry. It forecasts how severe and long the current recession will be for travel and how major economic trends will affect various travel segments in the long run. Finally, the article suggests some practical actions that can be taken. The causes and implications of both the recession and prospects for longer-term recovery are discussed specifically with travel industry managers in mind. This article purposely avoids a barrage of statistics and relies on a few graphics to remain simple and focused. Mon, 30 Mar 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright's Mobile: The Next Platform for Travel As mobile technology has evolved and mobile phone adoption has gradually increased over the last two decades, travel companies have speculated about when mobile will begin to have a significant impact on the travel industry. Recent handset innovations and the introduction of 3G (third-generation) mobile networks indicate that worldwide adoption numbers will continue to soar, creating a marketplace that is ripe for the introduction of mobile travel applications. The mobile platform has the potential to enable innovative personal interactions with travel customers, enhance the travel experience and enable travel companies to reach new levels of operational efficiency. Thu, 19 Mar 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list A Brutal Quarter, a Glimmer of Hope: Online Travel Agency Review of 4Q08 and Full Year 2008 The fourth quarter of 2008 was, simply put, brutal. Few if any corners of the travel industry were left unscathed. A dramatic and rapid deterioration of the economic landscape driven by an escalating credit crisis, a severe meltdown in the banking and automotive industries and deepening malaise in real estate and equities markets led to stunning declines in key indices of economic health: manufacturing, employment and consumer confidence and consumption. Mon, 16 Mar 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Citi Investment Research Call: PhoCusWright Presentation on Online Travel Trends PhoCusWright’s vice president of research Lorraine Sileo and senior director of research Douglas Quinby presented updated projections of the online travel marketplace through 2010, new consumer research on traveler intentions for 2009, plus key trends in metasearch and vacation rentals. Fri, 13 Mar 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Analyst Briefing: Vacation Rental Marketplace: Poised for Change This analyst briefing covers highlights from PhoCusWright’s Vacation Rental Marketplace: Poised for Changed report published in January 2009. You can view and download the presentation here. Note: If you download the webinar, you will need a Webex player. If you do not have one installed, please download the player here. Thu, 19 Feb 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Going Green: The Business Impact of Environmental Awareness on Travel There is little doubt that environmental awareness has gained mainstream status in the U.S., as evidenced by the plethora of “green” consumer products and media attention to the topic. In this setting, American companies can no longer operate without acknowledging perhaps their oldest – but most recently recognized – stakeholder: the environment.Travel, as one of the country’s largest industries, is certainly no exception. Thu, 19 Feb 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright's European Consumer Travel Trends Survey For the most part, the European travel market is following in the footsteps of the online U.S. travel market, though there are a few important differences. As a market, Europe is not “united” and consists of individual markets with unique cultural, technological, regulatory, travel, demographic and buying dynamics. These differences need to be embraced for travel providers to realize success. Thu, 19 Feb 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Ten Things to Expect (Including the Unexpected) in Online Travel in 2009 Early in the year is an important time to both look back and think ahead. It is imbued with hope and expectation and – perhaps this year more than most – a good dose of uncertainty. Each year PhoCusWright analysts brainstorm to divine the major trends that will shape travel distribution and marketing over the next 12 months. Fri, 13 Feb 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list European Hotel Online Distribution―Part One: European Hotel Websites All hotels – from large hotel chains to small individual properties – have one thing in common: Th eir brand Web site is normally their lowest-cost distribution channel. Low cost isn’t the only benefi t of this channel; brand Web sites also foster consumer confi dence(e.g., through best-price guarantees) and build loyalty via customer retention programs. But improved technology and the experience of users mean that hotel Web sites must now live up to higher standards. New development techniques – such as Ajax, which supports interactive animation – have emerged and are changing the game, in addition to easily implemented Web applications, and more sophisticated search engines and travel Web sites such as Expedia and Kayak.com. Thu, 05 Feb 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Vacation Rental Marketplace: Poised for Change The vacation rental marketplace has long been considered the last frontier of the hospitality and lodging industry. It’s large, fragmented, relatively unregulated and, from a travel distribution perspective, effectively uncharted. But “large,” “fragmented” and “uncharted” also suggest significant opportunity. And indeed, many within the vacation rental industry—as well as the broader travel industry—are moving to capitalize on that opportunity. Mon, 26 Jan 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list The bad news had been building for some time. By late 2007 and early 2008, the housing boom had crested and burst, the stock market was starting a steady – though still orderly – retreat, and consumer confidence and spending were slipping. Cloudy though the horizon may have seemed at the time, online travel – and in particular the major online travel agencies (OTAs) – seemed to be faring rather well despite the worrisome signs. Mon, 19 Jan 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Fourth Edition Electronic Market Data Sheet Here are the hard facts about the world's largest travel market, in easy-to-use charts. Tue, 13 Jan 2009 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Europe has the largest hotel capacity in the world, making the region attractive for online businesses despite the challenges of operating in such a highly fragmented market. In recent years, major European hotel chains pursued aggressive growth strategies through consolidation and the building of new properties, which reduced the share of independent hotels. As hotel chains scaled their businesses in sync with expanded marketing reach, hotel Web site sales increased apace with chain penetration, continuously keeping the pressure high for online travel agencies. Fri, 19 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Learning to Think Like a Mobile Traveler To date, travel industry mobile efforts have largely been limited to creating scaled-down versions of travel Web sites formatted for mobile. While this is a good first step, it fails to take advantage of the unique contexts in which travelers use their mobile devices. Rather than just viewing mobile as a smaller screen for viewing travel Web sites, it’s crucial to recognize the contextual implications of a device that travelers use when they are on the move. Travel companies will not begin to reap the benefits of mobile until they introduce mobile offerings that account for the mobile user’s context and the unique capabilities of their handset. Wed, 17 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Eight Edition Electronic Market Data Sheet Here are the hard facts about the world's second largest travel market, in easy-to-use charts. Tue, 16 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list In addition to being the most visited country in the world, France has a strong domestic travel market. French tourism had a very good year in 2007; hotels in particular saw significant growth in occupancy and average daily rates (ADR). While booking levels remained steady (or, in some cases, grew slightly) across all segments through mid-2008, the repercussions of the year’s worldwide financial crises remain to be seen. Mon, 15 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Fourth Edition Germany is the third largest travel market in Europe. As the worldwide leader in outbound tourism spend (only the U.S. is comparable), the travel industry is an important driver of the domestic economy. Similar to the U.K., travel market gross bookings in Germany are not very affected by economic conditions, as Germans spend a considerable amount of their disposable income on holidays regardless of the economy. Corporate travel also remains strong, as many German companies forecasted strong growth for 2009, partially based on high-volume export contracts. Mon, 15 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Fourth Edition Italy is Europe’s fifth largest travel market in 2007. It is one of the world’s largest travel spenders – seventh in outbound tourism spend in 2007, according to the World Tourism Organization (UNWTO) – as well as a major world market for inbound tourism. Mon, 15 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Fourth Edition Scandinavia, which includes Denmark, Norway and Sweden, is one of the most important travel markets in Europe. Scandinavia’s market size is in the range of Italy’s – one of the five key European destinations. In 2007, Scandinavia continued to lead the world in Internet penetration. Throughout the year, more than two thirds of the Scandinavian population used the Internet at least once a week, according to the European Statistics Office Database (Eurostat). Mon, 15 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Fourth Edition Spain is the second largest travel market in the world, welcoming more than 59 million international arrivals in 2007, according to the Spanish Tourism Institute (IET). The country ranks 12th worldwide and sixth in Europe in outbound travel. Of the €50 billion spent on tourism in Spain last year, a major portion was on domestic travel. As tourism accounts for approximately 11% of Spain’s gross domestic product (GDP), the industry is hugely important to the country’s overall economy. Exactly how the economic downturn of 2008 will affect the Spanish travel market remains to be seen. Mon, 15 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright http://www.phocuswright.com/research_subscriptions_global_edition_publication_list Inbound visitor numbers to the U.K. remain relatively steady. While initial forecasts for 2008 predicted an increase in 2008, current economic uncertainties call this into question. In particular, the appreciation of the pound against the U.S. dollar is an issue, with visitor numbers from the U.S. expected to drop. However, as the euro has gained strength against the pound, travel to Britain is more affordable for Europeans than it has been in many years. Dwindling demand is also likely to be offset by the continued growth of low-cost airlines, the U.K.’s popularity as a short-break destination, and the enlargement of the European Union (EU) from 15 to 27 countries. Mon, 15 Dec 2008 00:00:00 +0000 http://www.phocuswright.com/research_subscriptions_global_edition_publication_list PhoCusWright