The Next Generation of Travelers

November 30, 2008

Currently, more than half of travel is purchased online in the United States. Social networking tools are being employed by travelers more and more every year. Today’s generation of traveler is clearly different from past generations. But what can we tell about the next generation of travelers? To answer this question, PhoCusWright and Ypartnership have published The NEXTgen Traveler, a market research report that explores the technology and travel preferences of the next generation of travelers.

Sample data from the report reveals that NEXTgen travelers:

Are losing interest in traditional media.
NEXTgen travelers are less influenced by travel offices, travel agenst, media coveage, or advertising for travel decision-making. But half report being influenced by information found on a destination Web site or through an online travel intermediary.

Want to see if for themselves.
Nearly three fourths of respondents are interested in viewing photos of hotel/resort facilities and 60% are interested in virtual tours.

Are primed for mobile travel applications.
One third access the Internet via their cell phones or mobile devices and a fifth view maps on these devices.

Like to share.
Nearly half have written a review of some kind (movie, book, travel) on a social networking site. More than half regulary visit MySpace and a third share videos on YouTube.

The full report can be found in the Nestlé Library, located in the course reserves collection (call number G155 A1 N439).


Six Most Promising Travel Innovations Revealed

November 25, 2008

PhoCusWright, the travel industry market research firm, announced the six highest scoring demonstrations from the three categories of the Travel Innovation Summit at the recent PhoCusWright Conference in Hollywood.

The Travel Innovation Summit showcases the travel industry’s hottest, most innovative Web and mobile-based applications by innovators from around the world. Six winners (two from each of three categories: startups, emerging companies and established companies) were selected by real-time audience voting.

This year’s winner’s were:

  • Fogglight: Fogglight – a free platform that enables travel businesses to integrate trip planning and booking tools into their online service offerings. It allows users to create a travel Web site from scratch.
  • Interactive Mobile @dvertising LLC: iM@ (I’m at) – a geographically-aware content management platform providing travelers on-demand access to destination-specific information on accommodations, transportation and entertainment on a variety of mobile devices.
  • TripIt: An online platform that builds a travel itinerary from various booking confirmation emails and integrates travel information, weather, maps, and city guides to an itinerary that can be shared via social networking.
  • Triporati: Offers an online platform which assists customers in selecting a travel destination by matching the needs and affinities of the traveler with the unique character of over 1,000 global destinations.
  • Wandrian Inc.: Wandrian API-integrates global rail booking systems and allow travelers to search, shop and book global rail travel from a single platform.
  • Yapta.com: Your Amazing Personal Travel Assistant-a travel shopping Web site delivering a unique combination of price assurance and transparency to consumers who have purchased air travel online. It also alerts customers of price changes and changes to rewards redemption values.

New Book: Travel Marketer’s Guide to Social Media and Social Networks

November 21, 2008

Hospitality professionals are joining the Web 2.0 revolution in a big way. Advances in social networking have caused a re-evaluation of the way travel marketing is approached among industry professionals.

Travel Marketer’s Guide to Social Media and Social Networks is published by Hospitality Sales & Marketing Association International (HSMAI) and the Travel Industry Association (TIA).

With travelers increasingly relying on Internet-based social networking (Web 2.0), the travel industry is racing to grasp a better understanding of how to incorporate this channel into marketing endeavors. This publication discusses the major players and technologies in the always-changing travel industry environment.

Travel Marketer’s Guide to Social Media and Social Networks is located in the Nestlé Library reference collection – call number HF5415 I265 G74.


2009: Lowest Occupancy Rates in 20 Years

November 20, 2008

In its lodging industry forecast for 2009, PKF Hospitality Research predicts sharp revenue drops and the lowest occupancy level in 20 years.

PKF expects revenue per available room (REVPAR) to drop by 4.3 percent in the United States and for U.S. hoteliers’ profit to decline by 7.9 percent in 2009. At the root of those predictions is an expected 1.5 percent decline in U.S. lodging demand in 2009 as supply increases by 3 percent.

U.S. hotel occupancy will drop by 4.4 percent to a level of 58.3 percent, the lowest in the past 20 years, according to PKF. Read the full article from Business Travel News Online.

Keep up with developments in the lodging industry with Trends in the Hotel Industry,  published annually by PKF, and located in the Nestlé Library reference collection (call number TX909 A1 T74).


Top 3 in 30 is Back

November 17, 2008

Our Top 3 in 30 workshop is back for another round. In 30 minutes, you will receive hands-on practice with three of our most popular databases, with a focus on the hospitality industry. Topics include article searching, company research, and market research. The following classes are available this week:

Monday, 11/17, 3:00-3:30
Tuesday, 11/18, 4:00-4:30
Wednesday, 11/19, 2:00-2:30
Wednesday, 11/19, 4:00-4:30
Thursday, 11/20, 2:00-2:30

Classes will be held in the Nestlé Library. To register, visit our workshop page.


Business Travel Hits the Brakes

November 10, 2008
The majority of air travel in 2009 is expected to occur inside airplanes.

The majority of air travel in 2009 is expected to occur inside airplanes.

The economic slowdown will have an impact on business travel into the year 2010, according to the Travel Industry Association (TIA). In its annual forecast, the TIA said business travel continued to soften throughout 2008 with further declines expected next year, although officials detailing the outlook struck a tone of optimism for 2010. The decline in leisure travel next year is expected to be less severe than business travel.

International travel into the U.S. will also be affected. International inbound traffic grew by 10% this year, but the TIA forecast anticipates a 3% decline in such traffic next year. Read the TIA press release.

The Nestlé Library subscribes to several TIA publications. The best place to start for research on the travel industry is our Travel & Tourism industry guide.


Tipping for Dummies

November 6, 2008

According to one study, Americans tip about $42 billion a year. So how much is a good tip? The appropriate tip for good service has risen over the decades, according to Hotel School Professor Michael Lynn. The average tip today is around 18%, up from 10% in the 1950′s. Read more of Professor Lynn’s research in a recent article in the Wall Street Journal.

There are many reports on tipping guidelines and practices available from the Center for Hospitality Research. Hotel School Professor Rohit Verma recently authored a study titled Exploring Consumer Reactions to Tipping Guidelines. Additional reports can be found on the Center for Hospitality Research web site.


People Still Have to Eat

November 3, 2008

Even in a bad economy, people still have to eat. That’s one reason why restaurants may be able to survive tough economic times better than other types of businesses.

In a recent opinon piece in the Wall Street Journal, the co-founders of the Zagat Survey offer insights into the effects of the current economic climate on the health of the restaurant industry. From the article:

“The financial downturn may have an upside for restaurants. In the throes of the Great Depression, Americans turned to entertainment — especially the movies — to forget their troubles. Today, for a generation that has grown up on The Food Network, dining out with friends or family in an attractive restaurant has become a source of comfort and entertainment.”

Luckily for restaurants, people will always need to eat.


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