May 07, 1999
Internet Sales Increase for Travel Industry
PhoCusWright, Sherman, CT, an independent strategy and research company that focuses on the Internet travel industry, said Internet sales will represent 5.5 percent of all hotel bookings in three years. According to the report released this week, hotel sales will more than double to $1.1 billion in 1999 and eventually reach close to $4 billion by 2001.
Other findings include: Leading hotels offering Internet bookings report that 82 percent of total reservations are made through those Web sites; leading hotels invested an average of $20 million in their Web sites in 1998; and that hotels represented nearly 13 percent of total travel e-commerce in 1998.