Forbes.com Names LastMinuteTravel.com “Best of the Web.”
LastMinuteTravel.com, the global marketplace for Last Minute Travel® offers, is recognized as Best of the Web by Forbes.com Magazine. The summer issue of Forbes.com reports that, “Unlike it competitors, which use big travel-booking systems, this site works directly with hotels, often yielding better prices.” The editorial also points out “the deals can be substantial…and that by booking late (four weeks or less before your arrival date) you can pay less”... for hotels, cruises, vacations packages, airline tickets and rental cars.
LastMinuteTravel.com, which joins the AOL travel family effective September 15, features more than one million brand name travel providers and is the only dynamic marketplace of just-released travel and entertainment offers. The site employs `dynamic commerce` by scientifically merging real-time consumer demand with sophisticated revenue management systems. Both consumers and travel providers benefit from this `d-commerce` model that powers the right offer, at the right price, to the right customer, at the right time.
Since the consumer launch of LastMinuteTravel.com in January 2000, there has been record growth in both the demand for Last Minute Travel® offers and online Internet use and sales. Critical factors in the growth of this market include:
á According to the Spring 2001 MRI CyberStats report more than 133 million US adults have Internet access, indicating that Internet penetration is approaching critical mass.
á Forrester Research reports that travel is the largest segment of online purchases accounting for 36% of all monies spent online.
á In June 2000, PhocusWright reported that the spontaneous travel market included more than 25 million Americans and is the fastest growing segment of online travel purchases.
á One-third of online-travel consumers plan trips within two weeks of departure and one-in-five online consumers plan trips within one week of departure according to the Travel Industry of America (TIA), February 2001.
LastMinuteTravel.com has been recognized by Travel & Leisure Magazine, as the best site for spontaneous travel and by Time Magazine as having the best email alert service, My Travel Minder(tm). The site was also included in Advertising Age Magazine`s prestigious Marketing 100, and is the winner of the 2000 Hospitality Sales and Marketing Association`s Platinum `Gold Bell Award`.