In the News
Hudson Crossing thought leadership is often quoted in respected journals that focus on the events and breaking news that define the business of travel. A sampling of these references appear below.
* All articles open in a new window
What has changed since IHG went to the mat with Expedia?
November 02, 2009The Hudson Crossing blog features two interesting interviews on the Expedia/Choice break. One with Spencer Rascoff, former Expedia hotel supplier relations head during the IHG/Expedia stand-off, and the other with former IHG SVP Jim Young. According to both, not much has changed - except the whole industry.
United Allows Unlimited Upgrades And Goes After Competition
October 16, 2009United just announced that they will allow unlimited complimentary upgrades for all Mileage Plus elite members. Not only that, but in an email from United, they make the elite benefits of the Mileage Plus program pretty clear vs. the competition. We haven't seen this aggressive of competitive positioning (by name, no less) from an airline in a long time - remember the Shuttle wars?
Hotwire partnership and new TripIt developer program
October 02, 2009Now, travelers who book a trip through Hotwire will be able to click an "Add to TripIt" button and automatically add their plans to a TripIt itinerary. For some fun coverage and interesting insight about the partnership, check out the Hudson Crossing blog and CNET blog.
Hudson Crossing congratulates Mike McCormick on new industry leadership position
August 24, 2009Mike McCormick named Executive Director of NBTA
Hotels.com gets a new look
August 23, 2009A long over-do re-do of Hotels.com has cleaned up the user interface and toned down the jarring red of the old site. And Hotels.com's phone number has been splashed prominently all over the site, notes Hudson Crossing's Tom Botts.
Hotel Foreclosures Back On The Rise
August 19, 2009Several analysts are predicting more defaults and foreclosures on high-end hotels and resorts throughout the rest of this year. While their opinions differ on the severity of the threat this poses to the industry, they agree that meeting planners could begin to see service impacts at some of their preferred properties and should take a hotel's financial health into consideration when negotiating a deal.
Super-sleuth Tom Botts noticed that the under-the-radar Travelzoo launch of fly.com in the U.K. is under way.
August 13, 2009Super-sleuth Tom Botts noticed that the under-the-radar Travelzoo launch of fly.com in the U.K. is under way. You can take a look at the U.K. incarnation here, and notice that the domain name is not Fly.co.uk, which is owned by another travel comparison-shopping company. Oh the confusion.
Top Travel 2.0 Sites
August 09, 2009New and innovative travel startups are cropping up all the time, but if history is any indication, only a handful will survive. I recently asked a group of travel industry gurus what up and coming sites really stood out for them, and which ones they actually used.
Hotel promotions may come at a cost
July 09, 2009Hosting many fewer business or leisure customers than they did a year or two ago, hotels are offering ever-sweeter promotions, but some of these deals may contain hidden costs.
Hotels.com Founders At It Again
July 07, 2009For those of you who wax nostalgic and long for the days when the sales staffs of Expedia.com and Hotels.com went after each other with figurative tire irons as they sought one-upmanship in merchant-model hotel deals, your prayers may have been answered.
Airlines-GDS Renegotiations: Where Will The Fees Land Next?
June 30, 2009Back in 2006, the major airlines were able to squeeze lower distribution costs from global distribution system providers Amadeus, Galileo, Sabre and Worldspan. In turn, the GDSs reduced incentives back to travel management companies, and the TMCs turned to their corporate customers to replace those revenues--raising ticketing fees dramatically and raising the ire of corporate travel managers around the globe. The airlines collectively pulled off a coup by passing costs previously borne by them to the end user, the corporate traveler. Will there be more of the same resulting from the negotiations beginning now?
USA Today: Online travel agencies drop ticket booking fees
June 03, 2009Tom Botts, partner at consulting firm Hudson Crossing, says this week's announcements don't mean that all agency fees have disappeared. Many still impose ankle-biter fees, he says.
NYT: Keeping It All in a Days Work
May 07, 2009The shuttle between New York and Washington, D.C., still works great, but if you are trying to do a same-day trip between New York and Kansas City, that has become a lot more difficult now, said Tom Botts, a partner at Hudson Crossing, a travel advisory firm. Craziest one-day trip: New York to Paris and back. It is possible to do, but it is not for the faint of heart, he said.
NYT: Increasingly, It is a Tight Squeeze in the Air
May 07, 2009When booking travel, flights on regional aircraft are easy to spot. Tickets sold online will include the words operated by beside flight details. And if it is being operated by an airline you have never heard of, it is a pretty good bet it is a regional carrier, said Tom Botts, a partner at Hudson Crossing, a travel industry consultant in New York.
USA Today: Travelocity chases Priceline, Hotwire with new, masked-hotel strategy
May 06, 2009Even though Travelocity is still in the early stages of its experiment, word's gotten out in the blogosphere (see Tom Botts of Hudson Crossing blog post from last Thursday. That is why Weber, Travelocity president who oversees North American operations, agreed to speak with Hotel Check-In about the new strategy.
Eye For Travel: Big adjustments are being made by travel businesses
May 05, 2009From deep discounts to the disappearance of fees, travel businesses are taking bold action to acquire a disproportionally larger share of a diminished pool of travellers. Such move indicates that the industry is in the process of establishing a new point of equilibrium, according to strategic advisory firm Hudson Crossing.
BNET: Why Would Delta Reintroduce Its Online Purchase Bonus?
April 30, 2009I tend to think the latter is right. It was actually Tom Botts and Chris McGinnis that both brought this up. Online travel agents have killed booking fees through 5/31, and that is also when Deltas promo ends. So it is likely that either Delta is seeing the online travel agents take back some share or they want to make sure that it does not happen preemptively.
NYT: When Figuring Travel Cost, Footnotes Add Up
April 28, 2009Most travelers comparison shop for hotels online. But Tom Botts, a partner at the travel adviser Hudson Crossing, said that until recently, accurate comparisons were difficult because online booking agencies disguised their service fees.
USA Today: Delta's online booking bonus: Is there an ulterior motive?
April 28, 2009Tom Botts, partner at travel consultant group Hudson Crossing, writes on his corporate blog that Deltas resurrected 500-mile online booking bonus begs the question: Are the online travel agencies actually grabbing growth back from the supplier airline sites? He writes Deltas temporary reinstatement of the bonus could be just a broad attempt to stimulate bookings but we doubt it. Botts adds the airlines have gotten much smarter in recent years in how they target demand stimulation offers.
Travel Weekly: Are CEOs of AA, Delta signaling each other? Or just delusional?
April 27, 2009Tom Botts, a partner in the hospitality consultant Hudson Crossing, declared in the company's blog that Anderson was flat-out wrong when he suggested that online travel agencies are paying hotels in order to book rooms.
USA Today: Online travel agencies slash service fees
April 24, 2009The Orbitz new total price policy may save travelers time in figuring the actual cost of a stay, but it's still wild and wooly out there. There's a lot of volatility in rates and inventory, particularly with independent hotels, says Tom Botts, partner at the research firm Hudson Crossing.
Eye For Travel: Orbitz cuts hotel booking fees
April 23, 2009According to strategic advisory firm Hudson Crossing, Orbitz has fired off the latest salvo in the continuing war between the OTAs by removing the somewhat hidden booking fees that have pervaded the industrys merchant model. These booking fees have typically been included in the second step of the booking process after the consumer clicks on the rate at the hotel they wish to purchase.
Budget Travel: Expedia quietly removes its hotels booking fee
April 23, 2009Expedia has apparently stopped adding its booking fee into its taxes and fees in response to Orbitz identical move yesterday. The change was first noticed by Tom Botts, partner at strategic travel and hospitality advisory firm Hudson Crossing.
Travel Management: Airlines Aim Distribution Salvos At OTAs
April 22, 2009Of note, Delta stated that TMCs have an important role to play and seemed to imply that their main target was the OTAs, particularly when Delta described the value we provide versus others online, noted Hudson Crossing consultant Tom Botts.
WSJ: Orbitz Joins Others in Waiving Booking Fees
April 08, 2009The companies have introduced the new consumer-friendly services as temporary promotions, but industry watchers say it's likely the deals will be extended in some form. We don't think that putting this genie back in the bottle will be easy come late May, said Tom Botts, a partner at Hudson Crossing LLC, a travel-industry consulting firm.
WSJ: Southwest New LaGuardia Connections: All Business?
April 07, 2009Tom Botts, Hudson Crossing: In the past, Southwest had a policy of often making customers go to where Southwest was in order to take advantage of their great fares and high service levels. This served WN well as they avoided high cost and delay prone airports such as LGA, BOS by using PVD, ISP, OAK, MHT etc. Passengers flocked to smaller airports and took advantage of Southwest low fares, ontime and frequent flights.
NYT: Resort Assets Include Shotguns, Horses and a Potatoes Peeler
April 07, 2009Tom Botts, hotel and travel consultant for Hudson Crossing, told The Associated Press that he is not at all surprised by a list that includes a collection of firearms valued at $16,191 and a fleet of more than 100 vehicles, including a 1954 Oren Special fire truck and a GMC street sweeper, valued at $287,181. Its collection of linens is worth about $649,000, while its fleet of golf carts is worth nearly $253,000.
Delta Drops Falcons Sponsorship; Touts Ties to Yanks, Mets
April 01, 2009Deltas marketing move may also reflect the looming departure of Continental from its partnership with Delta in the SkyTeam alliance. (Houston-based Continental plans to leave SkyTeam for the Star Alliance in October.) They are a quasi-friend now for Skyteam loyalists but this obviously wont last,said Tom Botts, an airline and travel industry consultant.
Too Rosy? Too Glum? Just Right? Takeaways on Todays FAA Aviation Forecasts
March 31, 2009Tom Botts, Hudson Crossing: Those numbers feel highly optimistic to me unless you believe we are truly at the low point in the economy today; as in right now. I hope that is correct but Im not convinced. Air travel is highly correlated to the economy - I dont think anyone is predicting 2010 to be a banner year. That said, improvements are critical to our nations long term economic health and productivity. They are long overdue, irregardless of the traffic forecasts.
Online travel agencies go to war over booking fees
March 23, 2009The major U.S.-based online travel agencies have engaged in a play-for-keeps market-share tussle over booking fees and price guarantees, and Orbitz has taken the hardest blows.
Tiny hotel room may fit shrunken travel budgets
A New York hotel with luxury sheets and state-of-the-art audio for less than $100 a night? All you have to sacrifice is a bit of privacy and a little; well, a lot of space. Moving beyond budget accommodations to an idea that borrows from a ship's berth or a train's sleeper car, developers are gambling that in tough times travelers looking for a little pampering at lower prices will embrace micro-hotels.
March 22, 2009Greenbrier owner cut off funds before bankruptcy
March 20, 2009The economy caught up with the historic Greenbrier resort just as its owner cut off long-standing access to easy cash, sending it into the arms of would-be buyer Marriott International, according to bankruptcy records. A detailed review of documents from The Greenbrier's Chapter 11 filing Thursday found that the resort's owner, railroad company CSX Corp., shut down an internal cash pool for the resort in December just as the recession was sapping demand for luxury hotel and conference space.
Travelocity joins Expedia in dropping airfare-booking fees
March 17, 2009Today Travelocity is getting rid of its booking fees on plane tickets sold through May 31, matching a move last week by Expedia , as first reported by the Wall Street Journal . The fees, from $7 to $12, have been disguised as part of the government taxes and fees during the online checkout process.
Expedia Drops Air Booking Fees: Temporary or Start of a Trend?
March 17, 2009Expedia Inc., the large online travel vendor, just eliminated its booking fee for airline tickets sold between now and May 31. The move reflects the intense competition among travel Web sites, and could well be the start of a trend.
2009 U.S. Hotel Chain Survey: Four Seasons Tops Ritz-Carlton In Deluxe Photo-Finish
March 16, 2009High marks for amenities and meetings facilities edged Four Seasons Hotels and Resorts to the top of the U.S. Hotel Chain Survey's deluxe tier, as brands strategize to show buyers that luxury is not incompatible with necessary cost-cutting. Four Seasons bested Ritz-Carlton, with which it tied for top deluxe tier honors in 2008, by just three-hundredths of a point.
Some early thoughts on TripAdvisors new travel search engine
March 04, 2009Despite its current shortcomings, TripAdvisor's new travel search engine will ultimately be successfull thanks to TripAdvisors huge reach and loyal user base. That is, if the company can convince people to think of them earlier in the travel booking process, notes Hudson Crossing's Tom Botts.
Hudson Crossing offers new guide- Five steps travel companies should take now to survive the recession
March 01, 2009In a new guide, strategic advisory firm Hudson Crossing offers recommendations for travel companies on steps that will help to weather an economic environment marked by declining demand and limited access to capital. According to a report in TravelDailyNews by Theodore Koumelis, Hudson Crossing’s ‘Five Steps Travel Companies Should Take Now’ helps companies prepare for the expectedly lengthy recession with suggestions for planning, streamlining and thinking outside the box.
Consultancy advises travel companies on steps to take
February 25, 2009Hudson Crossing has offered "Five Steps Travel Companies Should Take Now" to deal with the credit crunch and ensuing recession. "Unlike recent economic downturns, this recession is rooted in bank failures and limited access to capital for businesses and consumers."
Consultant Has Five Steps to Take Now
February 25, 2009The travel industry consulting firm Hudson Crossing is advising travel companies on the "Five Steps Travel Companies Should Take Now" to cope with the recession and credit crunch. "Unlike recent economic downturns, this recession is rooted in bank failures and limited access to capital for businesses and consumers. At a time when travel enterprises have no access to cash and consumer consumption is dramatically declining, surviving will in and of itself be an accomplishment," said Michael W. McCormick, managing partner, Hudson Crossing.
Strategic travel advisory firm offers recommendations
February 25, 2009In a new guide, strategic advisory firm Hudson Crossing offers recommendations for travel companies on steps that will help to weather an economic environment marked by declining demand and limited access to capital. Issued recently, the Company’s “Five Steps Travel Companies Should Take Now” helps companies prepare for the expectedly lengthy recession with suggestions for planning, streamlining and thinking outside the box.
Travel Firm Issues Advisory to Survive the Recession
February 23, 2009In a new guide, strategic advisory firm Hudson Crossing offers recommendations for travel companies on steps that will help to weather an economic environment marked by declining demand and limited access to capital. Hudson Crossings “Five Steps Travel Companies Should Take Now” helps companies prepare for the expectedly lengthy recession with suggestions for planning, streamlining and thinking outside the box.
Consultant Has Five Steps to Take Now
February 23, 2009The travel industry consulting firm Hudson Crossing is advising travel companies on the "Five Steps Travel Companies Should Take Now" to cope with the recession and credit crunch.
Strategic Travel Advisory Firm Issues "Five Steps Travel Companies Should Take Now" to Survive the Recession
February 23, 2009In a new guide, strategic advisory firm Hudson Crossing offers recommendations for travel companies on steps that will help to weather an economic environment marked by declining demand and limited access to capital. Issued today, the Company's "Five Steps Travel Companies Should Take Now" helps companies prepare for the expectedly lengthy recession with suggestions for planning, streamlining and thinking outside the box.
Travelzoo bought and has now relaunched Fly.com - looks familiar
February 10, 2009Email/Deals marketing firm Travelzoo (TZOO) bought the domain name Fly.com for US$1.76mm a week or so ago (more over at Travolution). Today I saw a story announcing that Fly.com has been relaunched as a meta-search beta. New model for them. I wonder where they got their inspiration.
Should Alliances Be Investigated?
February 09, 2009I’m a big supporter of airline alliances. I think they provide lots of benefits for travelers, especially in terms of loyalty programs. But, apparently Rep. Oberstar wants to investigate them because they’re anti-competitive. This investigation can affect the plans of Oneworld to get anti-trust immunity, and of Continental to join the Star Alliance. After talking to Steve Orr, Oberstar’s example about flights from New York JFK to Paris don’t make sense, as that makes it sound that he is excluding Newark but including Orly, which doesn’t make much sense.
Not-so-diplomatic immunity
February 06, 2009Rep. James Oberstar, chairman of the House Transportation Committee, is worried about the effect the increasing size of international carrier alliances is having on transatlantic competition. So the Minnesota Democrat has introduced legislation that would require a congressional study of U.S. Department of Transportation (DOT) policies.
Kayak.com poised to hit one billion searches by Q1
February 03, 2009Kayak.com is predicting significant revenue growth for 2009 despite the current economic crisis. Referring to a report (recently released by Hitwise), which indicates that online flight search has dropped 42 percent this January compared with the same month last year, the travel search engine has stated it is set for “record revenue and traffic during January 2009”.
Despite $175 Million in Losses, Virgin America Battling Southwest in California
February 03, 2009Virgin America disgorged some financial information Monday, offering one of the first glimpses at how the start-up carrier is faring amid softening demand and economic headwinds. Unlike publicly owned airlines, which are required by the SEC to issue quarterly statements, Virgin America is privately controlled. The airline is releasing its numbers because the Department of Transportation mandates that commercial carriers provide certain financial data.
Hilton Launches Midprice Extended Stay Lodging Brand Home2 Suites
February 02, 2009Hilton Hotels Corp. has launched a midprice extended stay brand, Home2 Suites by Hilton, with plans to begin constructing the first property within a year. The brand will be at a slightly lower price point than Hilton's established upscale extended stay brand, Homewood Suites, positioning it as a competitor to such brands as InterContinental Hotels Group's Candlewood Suites and Marriott International's TownePlace Suites.
Travel Bargains for the Unemployed
February 01, 2009It is the best of times for budget-minded travelers. It's also the worst of times. The decimated job market and global financial crisis are putting a damper on many people's travel plans. Thanks to declining demand, airfares aren't marching higher, hotel room rates are falling, and cruise lines are slashing prices.
Hotels Inaugurate Mobile Bookings
January 21, 2009Amid predictions--and skepticism--that 2009 will be a big year for the development of mobile travel technologies, hotel companies are rolling out capabilities that facilitate bookings on the go. "The long expected rise of mobile computing in travel has been greatly over-hyped," according to consultants at Hudson Crossing. "What we believe is different in 2009 is that we expect the advent of two viable mobile computing platforms (the iPhone and BlackBerry Storm) to have a catalytic effect upon the use of mobile travel applications."
Mobile apps tipped to dominate headlines in travel in 2009
January 20, 2009The advent of two viable mobile computing platforms (the iPhone and BlackBerry Storm) is expected to have a catalytic effect upon the use of mobile travel applications this year. According to Hudson Crossing, which has predicted that significant consolidation and restructuring of the travel industry is inevitable in 2009, has highlighted that mobile will begin to emerge, converge and finally arrive in travel.
Hotels aren't really sold out for the Obama inauguration, but they are still pricey
January 16, 2009Less than a week before the inauguration, Tom Botts scored a hotel room at a Hilton hotel in the D.C. area without shelling out a dime. "I used my Hilton Honors Points," said Botts, a member of the hotel chain's frequent-guest program and partner in a New York-based travel strategic advisory firm called Hudson Crossing.
Why are there so many unsold DC-area rooms?
January 15, 2009I don't understand it. The word was that most Washington-area hotels were sold out for the inauguration period, commanding rates double or triple the usual with a minimum stay and nonrefundable prepayment required. Then today came word that 15,000 rooms still are available in the metro area, 600-plus in the city itself.
Report predicts more restructuring, other travel investment trends for 2009
January 14, 2009Significant restructuring in the travel industry is expected in 2009 as companies deal with issues including reduced enterprise valuations and high debt repayment, according to the Hudson Crossing 2009 Trends in Travel Investment. The report offers seven predictions for the coming year: An online travel agency will change hands; luxury brands will become affected by the downturn; U.S. airlines will have better than expected performances; and iPhone and the BlackBerry Storm will have a catalytic effect on the use of mobile travel applications.
Travel Industry Due for Restructuring in Coming Year
January 14, 2009High debt repayment, reduced enterprise valuations, limited access to capital, and lower demand for products and services will force the travel industry to restructure itself in the coming year, asserts a new forecast from New York-based travel industry consultancy Hudson Crossing.
Significant Restructuring Predicted for Travel Industry in 2009
January 13, 2009According to a report issued by Hudson Crossing, a strategic advisory firm specializing in the travel and hospitality industry, high debt repayment, coupled with reduced enterprise valuations, limited access to capital and lower expected future demand for products and services, make significant travel industry restructuring both necessary and inevitable in 2009. "As in previous recessions, we fully expect that the current market will not support the breadth of travel firms that were created during the last expansion cycle. We expect 2009 will bring consolidation and restructuring for the travel industry in most every sector," said Michael W. McCormick, Managing Partner, Hudson Crossing.
Significant Restructuring Predicted for Travel Industry in 2009
January 13, 2009According to a report issued by Hudson Crossing, a strategic advisory firm specializing in the travel and hospitality industry, high debt repayment, coupled with reduced enterprise valuations, limited access to capital and lower expected future demand for products and services, make significant travel industry restructuring both necessary and inevitable in 2009.
2009 will bring consolidation and restructuring for the travel industry: report
January 13, 2009A strategic advisory firm has predicted that significant consolidation and restructuring of the travel industry is inevitable in 2009. According to a report issued by Hudson Crossing, high debt repayment, coupled with reduced enterprise valuations, limited access to capital and lower expected future demand for products and services, make significant travel industry restructuring both necessary and inevitable in 2009.
Hudson Crossing makes seven major predictions to guide travel industry investment and decision making
January 13, 2009According to a report issued by Hudson Crossing, a strategic advisory firm specializing in the travel and hospitality industry, high debt repayment, coupled with reduced enterprise valuations, limited access to capital and lower expected future demand for products and services, make significant travel industry restructuring both necessary and inevitable in 2009. "As in previous recessions, we fully expect that the current market will not support the breadth of travel firms that were created during the last expansion cycle. We expect 2009 will bring consolidation and restructuring for the travel industry in most every sector,"said Michael W. McCormick, Managing Partner, Hudson Crossing.
A major OTA brand will be sold
January 13, 2009Hudson Crossing has predicted that a major OTA brand will be sold in 2009. The strategic advisory firm, which has predicted that significant consolidation and restructuring of the travel industry is inevitable in 2009, has highlighted that the space for online travel agencies (OTAs) has become crowded and the current downturn in consumer spending on travel will force one major OTA into a change of ownership.
Sweeping statements and splitting hairs
January 13, 2009New York-based Hudson Crossing has released its 2009 Trends in Travel Investment, predicting that "significant travel industry restructuring [is] both necessary and inevitable in 2009". It says: "The space for Online Travel Agencies (OTAs) has become crowded and a widely anticipated downturn in consumer spending on travel will force one major OTA into a change of ownership." A change of ownership is one thing, significant restructuring is something else. There would need to be a buy-out between the major OTAs for the latter to occur.
Industry consolidation ahead for online travel
January 13, 2009Hudson Crossing released its 2009 guidance for investors in the travel industry. The 2009 predictions include expectations of reduced enterprise valuations, limited access to capital, and low consumer demand which will lead to industry consolidation.
Hudson Crossing Releases 2009 Guidance for Travel Investors
January 12, 2009Hudson Crossing released its 2009 guidance for investors in the travel industry. The 2009 predictions include expectations of reduced enterprise valuations, limited access to capital, and low consumer demand which will lead to industry consolidation. Three relative bright spots for 2009 include online travel media applications, mobile travel applications, and the already restructured airline industry.
Low Demand Will Drive Consolidation In All Industry Segments
January 12, 2009High debt repayment, coupled with reduced enterprise valuations, limited access to capital and lower expected future demand for products and services, makes significant travel industry restructuring both necessary and inevitable in 2009, says a new report issued by Hudson Crossing, a strategic advisory firm specializing in the travel and hospitality industry.
Industry Consolidation Forecast by Hudson Crossing
January 12, 2009Travel industry advisory firm Hudson Crossing is forecasting consolidation and restructuring in every sector of the industry this year. The "Hudson Crossing 2009 Trends in Travel Investment" report released today offers seven major predictions for 2009.
"As in previous recessions, we fully expect that the current market will not support the breadth of travel firms that were created during the last expansion cycle. We expect 2009 will bring consolidation and restructuring for the travel industry in most every sector," said Michael W. McCormick, managing partner, Hudson Crossing.
Hudson Crossing Predicts Major Restructuring for Travel Industry in 2009
January 12, 2009High debt repayment, reduced enterprise valuations, limited access to capital, and lower demand for products and services will force the travel industry to restructure itself in the coming year, asserts a new forecast from New York-based travel industry consultancy Hudson Crossing. "As in previous recessions, we fully expect that the current market will not support the breadth of travel firms that were created during the expansion cycle," Hudson Crossing Managing Partner Michael W. McCormick said in a statement.
Hudson Crossing Releases Mid-Year Guidance for the Travel Industry
August 18, 2008Hudson Crossing announced today that it has released its mid-year guidance for investors in the travel sector contained in the "Travel Investment 2008 Mid-Year Review" report. Thus far in 2008, there have been mixed signals concerning investment in travel businesses. Most notably, weakening demand for travel and the associated high cost of oil has not been reflected in the appetite of venture capital investors who remain bullish on the long-term prospects of the online travel value proposition.