Net-Based Hotel Bookings to Reach $3.1 Billion By 2002: Analyst
By the year 2002, hotel bookings made via the Internet will generate approximately $3.1 billion in revenues for online providers, up from less than $100 million in 1997, according to Bear Stearns senior managing director Jason N. Ader.
Hotel revenues from Web bookings will account for one-quarter of all online travel dollars in 2002, up from just 9% in 1997.
Web sites offering hotel reservations are some of the most heavily marketed and visited on the Internet, according to Bear Stearns. In 1998, there were approximately 150 million visits to such sites, with that number expected to more than triple by 2002.
“Five years ago, there were very few options for Internet direct hotel booking,” said Ader, in a statement. “We expect rapid growth to continue ahead, presenting challenges and opportunities to travelers, lodging companies – and investors alike.”
