Travel Booking - US - June 2018
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.
This report examines the following issues:
Move to experiential vacationing
Sharing economy rising in popularity
Differentiation is a problem among OTAs