What you need to know
The US travel market is stable and growing. Mintel expects that the market for vacations and tourism to increase by 22% from 2015-20 to reach $284.5 billion for the year. As spending on leisure travel increases, so too will the market for travel booking. Booking direct with suppliers continues to be the norm, though OTAs (online travel agencies) are aggressively competing for share. As loyalty to travel supplier brands is in question due to devaluing of loyalty programs, OTAs stand to benefit.
Definition
The Report covers the US travel booking industry related to how consumers book travel-related transportation, accommodations, and tours/activities; what drives their choice; and attitudes toward travel booking and innovations. Booking methods covered include:
Online – Direct with suppliers and via OTAs
Offline – In person, via phone, and travel agents
Third-party OTAs
Direct with suppliers