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2008 POWER LIST

In the case of the travel agency industry, necessity is the mother of reinvention. It is mandatory in the age of technology for agencies to continue to make themselves valuable to travelers and corporations, and this year’s list shows that if sales are any indication they are doing that very nicely, thank you.

Here are some of the highlights:

• As the number of the world’s billionaires proliferate, so do the number of billion-dollar travel agencies, as 13 companies achieved that heady level of travel bookings.

• Despite all that heft at the top as well as continuing consolidation, there were still 55 agencies achieving the minimum level of $100 million to attain a ranking on the 2008 Power List.

• Midsize to large agencies continue to affiliate with global groups like HRG, BCD and American Express. While the last couple of years have seen the entry of companies built on network and franchise models, those continue to appear. A new one this year is Nexion, a subsidiary of Sabre Holdings.

• Similarly, globalization continues to allow regional agencies to affiliate with global companies and associations to establish an international presence.

• Hosting is fueling growth at many agencies, which are capturing significant sales through independent travel sellers.

• Through a combination of hosting and smart technology, many agencies are able to produce higher sales with a smaller staff. ...

View Travel Weekly, June 23, 2008

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Leisure is lone bright spot as U.S. travel outlook dims
By Lester Craft

The travel industry’s multiyear growth curve appears to be flattening, with new performance data and forecasts reflecting the accumulating damages from economic stress and high fuel costs.

A batch of new indicators suggests that the industry now faces the prospect of little or no growth this year. Leisure travel may yet squeak through 2008 with a hairline increase before declining slightly next year, but a key consumer survey recently indicated that gasoline prices had already prompted some consumers to cancel vacations.

Some travel segments, most glaringly aviation, clearly are contracting already. ...

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