The Internet Travel Industry
The Internet travel industry has experienced dramatic growth. The ability to purchase airline tickets, make hotel reservations, and book cruises via the Internet has evolved from a novelty to a tool utilized by millions of consumers. The strength of this market is illustrated by sales projections that predict $8.8 billion in travel bookings by the year 2002. Below are the actual figures for 1996-1997 and projections for 1998-2002.
| Year | Revenues |
| ($billions) | |
| 1996 | 0.275 |
| 1997 | 0.827 |
| 1998 | 1.875 |
| 1999 | 3.2 |
| 2000 | 4.736 |
| 2001 | 6.57 |
| 2002 | 8.88 |
The percentage of nonairline revenues is projected to increase substantially. In 1997 nonairline bookings were approximately 10 percent of total bookings ($82 million). Projections for the year 2002 are for an estimated 25 percent of the market ($2.2 billion). These projections indicate the potential strength of Internet travel businesses.
Presently no company dominates the market. Jupiter Communications reports that 81 percent of revenues are generated by 44 percent of the sites. There is definitely room for an innovative Internet cruise travel organization in this rapidly expanding market.
The Company's Planned Operations
