What you need to know

The US travel industry looks rosy overall, with Mintel projecting a 4-5% annual increase in the booking industry alone through 2023, reaching revenues of $57.6 billion in the next five years. With vacationers spending more and looking for more experiential travel, booking providers are trying a variety of tactics in order to close the sale with the consumer. While OTAs (online travel agencies) dominate the landscape, other providers are finding their strengths and playing to them.

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:

  • Direct with suppliers – Hotels, airlines, car rental agencies, and cruise lines

  • Third-party OTAs – Websites that aggregate supplier offerings in a marketplace and provide the means to book directly

  • Online – Direct with suppliers and via OTAs

  • Offline – In person, via phone, and through travel agents

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