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Since 2001, the internet has changed the hotel and travel industry dramatically:
- A 2007 study by ComScore focused on Google searches indicated consumers visit a travel site with surprising frequency before making a purchase on the same site, an average of 2.5 times over 29 days. In fact, the average consumer does 12 searches and visits numerous sites in comparing pricing, destination and other factors. Also true: travel is considered one of the most competitive sectors on the web in terms of comparison shopping. With customers visiting multiple times and taking 29 days on average to make a purchase, reviews on major sites such as Expedia, Priceline, Trip Advisor, Travelocity and Orbitz may be seen multiple times by a visitor in the buying cycle.
- Although business travel is down, and the industry as a whole is reporting declines, 70% of consumers completed their travel booking online[1] in 2008, and more consumers are searching for and booking their travel online. eMarketer is predicting that online travel bookings in 2009 will grow by 10.5% to reach $116.1 billion, primarily as a result of a dramatic shift from the offline to online channel.
- A new survey finds fewer than 5 percent of social-media users age 13-54 "regularly turn to these [social media] sites for guidance on purchase decisions" in a range of common product/service categories.
Source - http://www.hotelmarketing.com
- Travel search engines like Kayak are not new to the travel industry, but are now becoming a mainstream element in the travel planning process. Over a quarter (28%) of travelers typically turn to them when shopping for travel and new entrants like TripAdvisor will continue to broaden the audience.
Source - http://www.hotelmarketing.com
- 40% of all revenues in hospitality were generated from the Internet in 2007.
- By 2010, the internet will contribute to over 65% of all travel related bookings in North America.
- Travelers are becoming more Internet savvy and shop around for the best rates Most hotels struggle to adapt to these changes.
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