Research published on the PhoCusWright Research Subscription: Global Edition

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1 Research published on the PhoCusWright Research Subscription: Global Edition October 2010 Technology and Independent Distribution in the European Travel Industry October 2010 Lookinside.travel Spanish Traveler Survey 2009 Edition October 2010 Destination Unknown: How U.S. and European Travelers Decide Where to Go October 2010 Destination Unknown: How U.S. and European Travelers Decide Where to Go- Online Event September 2010 PhoCusWright's Indian Online Travel Overview Third Edition September 2010 U.S. Online Vacation Rental Market Analysis: September 2010 Online Travel Agencies 1H10: Led by Priceline, OTAS Power Ahead July 2010 PhoCusWright's European Consumer Travel Report July 2010 Shared Borders, Separate Perspectives: Top Trends in European Consumer Travel- Online Event July 2010 Google Seals the Deal with ITA- Online Event July 2010 PhoCusWright's Canadian Online Travel Overview Second Edition, July 2010 Online Travel Agencies 1Q10: Continued Outperformance July 2010 Interactive Edition - PhoCusWright's Online Traffic and Conversion Report June 2010 Online Travel in Canada: Market Size, Consumer Trends & Traffic-Online Event June 2010 PhoCusWright's Social Media in Travel: Reviews & Sentiment June 2010 Analyst Interview: PhoCusWright's Consumer Travel Report Second Edition June 2010 A Different Take On Why Google Would Want To Acquire ITA Software June 2010 Cutting Losses, Rebuilding Confidence: Key U.S. Traveler Insights-Online Event June 2010 PhoCusWright's Ancillary Services Report May 2010 PhoCusWright s Consumer Travel Report Second Edition May 2010 Asia Pacific Online Travel Agencies May 2010 PhoCusWright & Experian Hitwise Canadian Online Travel Traffic Analysis April 2010 Ancillary Services: A Tipping Point of Industry Dynamics-Online Event April 2010 Social on the Strip: MGM Grand Places It's bet on Social Media Marketing April 2010 PhoCusWright's European Hotel Market Overview 2010 April 2010 A Powerful Resurgence: Online Travel Agency Review of 4Q and Full Year 2009 April 2010 PhoCusWright's Social Media in Travel: Traffic & Activity March 2010 Indian Online Travel Intermediary Overview February 2010 Asia Pacific Mobile Trends February 2010 Nine Things (Not Ten) That Will Drive Travel Distribution in 2010 February 2010 Online Event: PhoCusWright s Global Online Travel Overview February 2010 PhoCusWright s Global Online Travel Overview: Comparing Three Major Regions: U.S., Europe and Asia Pacific January 2010 Asia Pacific Corporate Travel Overview January 2010 Mobile Update: Adoption, Innovation Location! December 2009 Online Travel Agencies 3Q09: Expedia, Priceline Rocket Ahead December 2009 Getting There Online Travel in Asia Pacific Page 1 Information last updated: 11/9/2010

2 December 2009 The Thailand Online Travel Market December 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition Electronic Market Data Sheet December 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition: Airlines December 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition: Cruise December 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition: Hotels & Lodging December 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition: Online Travel Agencies December 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition: Packaged Travel December 2009 PhoCusWright Online Town Hall: Conference Review and Outlook with Philip Wolf November 2009 PhoCusWright s European Online Travel Overview Fifth Edition Electronic Market Data Sheet November 2009 PhoCusWright s German Online Travel Overview Fifth Edition November 2009 PhoCusWright s Spanish Online Travel Overview Fifth Edition November 2009 PhoCusWright s U.K. Online Travel Overview Fifth Edition November 2009 PhoCusWright s Italian Online Travel Overview Fifth Edition November 2009 PhoCusWright s Scandinavian Online Travel Overview Fifth Edition November 2009 PhoCusWright s U.S. Online Travel Overview Ninth Edition November 2009 PhoCusWright s French Online Travel Overview Fifth Edition November 2009 Analyst Briefing: Unveiling the Dragon: The China Online Travel Market November 2009 PhoCusWright s Emerging Online Travel Marketplace in China October 2009 PhoCusWright s European Online Travel Overview Fifth Edition October 2009 Analyst Briefing: Key 2009 Online Traffic and Conversion Trends October 2009 PhoCusWright s Online Traffic and Conversion Report: Metasearch, Reviews and Other Nontransactional Categories September 2009 PhoCusWright s Online Traffic and Conversion Report September 2009 Analyst Briefing: The iphone and the Future of Mobile Travel Applications September 2009 Online Travel Agencies 1H09: Booking Fee Cuts Drive Demand Amid the Downturn September 2009 PhoCusWright s Asia Pacific Online Travel Overview Third Edition August 2009 Analyst Briefing: Travel & Finance Outlook August 2009 What s Next for European Online Travel July 2009 Analyst Briefing: The Changing Face of Corporate Travel July 2009 Online Travel Preview: Expecting a Strong Performance 2Q09 July 2009 PhoCusWright s U.S. Corporate Travel Distribution Fourth Edition June 2009 PhoCusWright s Consumer Travel Report June 2009 Analyst Briefing: Top U.S. Consumer Trends: Travel Behavior and Beyond June 2009 Online Travel Agencies 1Q09: Outperforming in a Recession June 2009 PhoCusWright s Destination Marketing: Understanding the Role and Impact of Destination Marketers May 2009 PhoCusWright s Consumer Travel Report Part Two: Psychographic Trends April 2009 Analyst Briefing: PhoCusWright s U.S. Online Travel Overview Update Page 2 Information last updated: 11/9/2010

3 April 2009 European Online Distribution Part Two: Managing European Hotel Online Intermediaries April 2009 U.S. Online Travel Overview Eighth Edition Update: April 2009 Analyst Briefing: PhoCusWright s Mobile: The Next Platform for Travel April 2009 PhoCusWright s Consumer Travel Report Part One: Behavioral Trends March 2009 Travel Industry Economics: Dismal but not Desperate March 2009 PhoCusWright s Mobile: The Next Platform for Travel March 2009 A Brutal Quarter, A Glimmer of Hope: Online Travel Agency Review of 4Q08 and Full Year 2008 March 2009 Citi Investment Research Call: PhoCusWright Presentation on Online Travel Trends February 2009 Analyst Briefing: Vacation Rental Marketplace: Poised for Change February 2009 Going Green: The Business Impact of Environmental Awareness on Travel February 2009 PhoCusWright s European Consumer Travel Trends Survey February 2009 Ten Things to Expect (Including the Unexpected) in Online Travel in 2009 February 2009 European Hotel Online Distribution Part One: European Hotel Web Sites January 2009 Vacation Rental Marketplace: Poised for Change January 2009 Online Travel Agencies Third Quarter 2008: Toughing It Out December 2008 PhoCusWright s European Hotel Market Overview December 2008 Learning to Think Like a Mobile Traveler November 2008 PhoCusWright s French Online Travel Overview Fourth Edition November 2008 PhoCusWright s German Online Travel Overview Fourth Edition November 2008 PhoCusWright s Italian Online Travel Overview Fourth Edition November 2008 PhoCusWright s Scandinavian Online Travel Overview Fourth Edition November 2008 PhoCusWright s Spanish Online Travel Overview Fourth Edition November 2008 PhoCusWright s U.K. Online Travel Overview Fourth Edition November 2008 PhoCusWright s U.S. Online Travel Overview Eighth Edition Electronic Market Data Sheet November 2008 PhoCusWright s European Online Travel Overview Fourth Edition November 2008 PhoCusWright s U.S. Online Travel Overview Eighth Edition October 2008 Pan-European Online Travel Agencies October 2008 PhoCusWright s Indian Online Travel Overview October 2008 Online Travel Agencies First Half 2008: Aggressive Steps for a Tough Market September 2008 Packaging Update: Weak Economy Gives Packaging a Lift September 2008 Airlines First Half 2008: Amid a Dismal Year, Online Shopping, Booking Grows While Revenue Slows September 2008 The PhoCusWright Business Travel Trends Survey Third Edition August 2008 Squeezed From All Sides: What s Next for Corporate Travel August 2008 The European Online Travel Market: July 2008 The Spanish Online Travel Marketplace July 2008 The Irish Travel Marketplace July 2008 The U.K. Travel Marketplace Page 3 Information last updated: 11/9/2010

4 July 2008 The Taiwan Online Travel Market: A Legacy Mindset Inhibits Growth July 2008 The Air Canada Effect: How to Unbundle Your Commodity Product to Maximize Revenue July 2008 Travelmuse: No Destination, No Problem July 2008 Analyst Briefing: The PhoCusWright Consumer Travel Trends Survey Tenth Edition July 2008 Online Travel Agencies: Some Shine in 1Q08 as Clouds Crowd Horizon June 2008 What Would Happen if You Tossed Expedia and Google in a Blender? June 2008 When it Comes to Online Travel, Don t Dismiss Travel Agents June 2008 The PhoCusWright Consumer Travel Trends Survey Tenth Edition May 2008 The European Car Rental Market May 2008 Analyst Briefing: PhoCusWright s Travel Agency Distribution Landscape: May 2008 The Economy and Travel Distribution: Mega-Trends Swamp Micro-Trends May 2008 Europe vs. the U.S.: Key Differences in Online Travel Trends April 2008 Revival of the Fittest: Despite a Fourth-Quarter Uptick For a Few, Online Travel Agency Growth Slips Further in 2007 April 2008 PhoCusWright s Travel Agency Distribution Landscape: April 2008 TripIt: Organize Your Travel March 2008 German Online Travel Market March 2008 The Past and Future of Travel Agencies: An NYU and PhoCusWright Analysis March 2008 Eye on the New Zealand Travel Market March 2008 Online Travel Agencies Make a Comeback March 2008 InsideTrip: Improved Flight Insight for Travelers February 2008 Multi-Channel Distribution: Focus on European Airlines February 2008 Key Trends Shaping the Scandinavian Travel Market February 2008 The French Online Travel Marketplace January 2008 DoHop: Codeshare for the Have-Nots January 2008 Behind the Firewall: Social Networking for the Corporate Travel Industry January 2008 In With the Old, In With the New: PhoCusWright s Trends for 2008 January 2008 Multi-Channel Distribution: Focus on Online Travel Agencies in Europe January 2008 Catch the Vibe December 2007 Analyst Briefing: PhoCusWright s European Online Travel Overview Third Edition December 2007 Wholesale Versus Merchant Model: Equals or Opposites? November 2007 Demographic Patterns Among Long Weekend Travelers November 2007 Hotel Distributors are Indebted to IGH Again! November 2007 PhoCusWright s Online Travel Overview Seventh Edition October 2007 Multi-Channel Distribution: Focus On European Tour Operators October 2007 The Transient Travel Genogram September 2007 Airlines Approach Halfway Mark Online, Powered by Web Site Bookings Growth September 2007 U.S. Airlines Aggregated Data Page 4 Information last updated: 11/9/2010

5 September 2007 Multi-Channel Distribution: Focus on European Hospitality September 2007 Unbundled: Suppliers Unravel Online Agency, Tour Operator Packaging Efforts September 2007 PhoCusWright s United Kingdom Online Travel Overview Second Edition September 2007 PhoCusWright s French Online Travel Overview Second Edition September 2007 PhoCusWright s Italian Online Travel Overview September 2007 PhoCusWright s German Online Travel Overview Second Edition September 2007 PhoCusWright s Spanish Online Travel Overview August 2007 The PhoCusWright Business Traveler Trends Survey Second Edition July 2007 PhoCusWright s European Online Travel Overview Third Edition July 2007 Analyst Briefing: The PhoCusWright Consumer Travel Trends Survey Ninth Edition and PhoCusWright s Canadian Online Travel Overview July 2007 PhoCusWright s Australia/New Zealand Online Travel Overview June 2007 PhoCusWright s Canadian Online Travel Overview May 2007 The PhoCusWright Consumer Travel Trends Survey Ninth Edition April 2007 Suppliers Leverage Dual Channel Strategy to Rival OTAs April 2007 Analyst Briefing on Groups and Meetings: Market Opportunity Redefined April 2007 Hotel Quality: Are Stars in the Eyes of the Beholder? March 2007 South African Online Travel -- Signs of Rumbling March 2007 The Breakdown of the Tour Operator Business Model: Fixed Menu or Buffet? March 2007 European Online Travel Overview Prerelease Presentation February 2007 All Eyes on India s Rapid Online Development January 2007 Did It, Will It, Won t It and Why: PhoCusWright s ABCs for 2007 January 2007 Groups and Meetings: Market Opportunity Redefined December 2006 Sabre s So What Surprise December 2006 PhoCusWright s U.S. Online Travel Overview, Sixth Edition December 2006 Travelport and Worldspan: A Big No Big Deal November 2006 U.S. Online Travel Agencies Share Continues to Shift, 3Q06 Growth Slips November 2006 An Uneasy Peace: Airlines, GDSs, GNEs and the Outlook for Air Travel Distribution in the North American Marketplace November 2006 OTO Preview: U.S. Online Leadership Prevails as Internet Begins to Dominate Consumer Behavior October 2006 Travel 2.0: Are New Inventory, Payment and Commission Strategies Ready to Replace the Merchant Model? October 2006 Behavioral Targeting: Matching Travel Advertising with Consumer Behavior October 2006 European Research Brief October 2006 Airline Web Sites Continue to Power Online Channel as Airlines Rebound September 2006 European Online Travel Marketplace: Key Markets Perspective September 2006 The Emerging Online Travel Marketplace in India August 2006 First Half Results Show Strengths, Needs of U.S. Online Travel Agencies August 2006 Corporate Travel Distribution: Key Markets July 2006 Data... 'Cause You Still Can't Get Blood Out of A Stone Page 5 Information last updated: 11/9/2010

6 July 2006 Online Hotel Prices: What You See Is NOT What You Get July 2006 European Online Corporate Travel Market Expected to Quintuple by 2008 June 2006 With a Push on Packaging, Online Agencies Take on Suppliers June 2006 U.S. Online Travel Agencies Show Weaknesses in First Quarter May 2006 Social Networks and Future World Wide Web May 2006 Analyst Briefing: Consumer Travel Trends Survey 8th Edition May 2006 European Online Travel Marketplace: Focus on The United Kingdom April 2006 Finding the Best Price Is Still Hit or Miss April 2006 The PhoCusWright Consumer Travel Trends Survey, Eighth Edition April 2006 Are Online Travel Agencies Washed Up? March 2006 Total U.S. Travel Market Expands as Shift to Internet Distribution Continues March 2006 Hospitality Revenue and Channel Management Converge March 2006 U.S. Online Travel Agencies Cope with Cooling Domestic, European Growth February 2006 Best Price Drives Travel Shopper Churn Suppliers Are the Usual Beneficiaries February 2006 ITA Funding Is More than a Vote of Confidence in a New GDS World January 2006 PhoCusWright Assesses Its 2005 Predictions, Makes New Ones for '06 January 2006 Search: A Metaphor For Travel December 2005 Online Travel Shopping and Buying Behavior: Key European Markets December 2005 Acquisitions Boost U.S. Online Travel Agencies as Organic Growth Cools November 2005 Is the Passion Lost in Online Travel? November 2005 Content And Community Sites: Are They Ready For Primetime? October 2005 PhoCusWright s Online Travel Overview, Fifth Edition October 2005 GeNiEs: Marketing or Magic? October 2005 U.S. Online Travel Agencies to Book Nearly One Quarter of All Sales on International Web Sites by Year End September 2005 Trends in European Online Travel and Hospitality September 2005 European Hotels: Managing Hospitality Distribution September 2005 Online Travel Overview Preview August 2005 At NBTA, Why the Customer Steals the Show August 2005 The Asia Pacific Online Travel Marketplace Second Edition August 2005 Sales Growth, Channel Shift Fuel Airline Web Sites in a Difficult Market August 2005 Analyst Briefing: Consumer Travel Trends Survey, 7th Edition and the upcoming Online Travel Overview reports July 2005 Online Managed Travel: Perspectives On Why Companies Resist July 2005 Travel Industry Relief as Resilient Travelers Stay Cool June 2005 The PhoCusWright Business Traveler Trends Survey June 2005 Acela Woes Slow Amtrak's Move Online June 2005 Online Marketing Strategies in the Travel Industry: A Survey of Travel Marketers May 2005 Car Rental Companies Successfully Push Direct Online Bookings May 2005 Online Travel Agencies Hold the Line in First Quarter May 2005 Sabre Banks on Lastminute.com to Seize Lead in Europe Page 6 Information last updated: 11/9/2010

7 April 2005 The PhoCusWright Consumer Travel Trends Survey, Seventh Edition April 2005 Online Destination Marketing: Building Destination Web Site Traffic April 2005 Is Online Cruise Buying a Non-Starter? March 2005 Growth Slows in 2004 as U.S. Online Travel Agencies Consolidate March 2005 Service Fees: The Top Non-Price Driver of Web Site Choice March 2005 Amadeus Expands Hospitality Distribution Reach March 2005 What s The Point(s)? An Emerging Issue for Online Travel Agencies February 2005 It's A Whole New World in Travel Distribution - Again February 2005 Despite Overall Industry Woes, Online Sales for Airlines Surge in 2004 January 2005 Book Together and Save! January 2005 Nearly Half of All American Travelers Have Purchased Online, but Only Flyers Prefer Online to Offline Channels January 2005 Hello Search, Good-bye Brand Loyalty December 2004 European Online Travel Marketplace Update : Focus on Germany December 2004 Sabre s SynXis Acquisition: Harbinger of Acquisitions to Come December 2004 Online Travel Agency Growth Shows Signs of Slowing December 2004 Cendant s Quick Fix: Is Overhauling Ebookers Better than Starting From Scratch? November 2004 Travel Shopping and Buying Behavior Highlights November 2004 Analyst Briefing: From Property to Screen: Managing Online Hotel & Lodging Distribution November 2004 Amassing Online Travel Market Share in Europe One Company at a Time November 2004 Selling Complex Leisure Travel Online: Focus on Dynamic Packaging Technology October 2004 Cendant Aims to Move from Second Rate to Second Best With Orbitz Buy October 2004 Can Packaging Really Help Online Travel Agencies Compete With Suppliers? September 2004 Win Some, Lose Some: But Did Northwest Give Up Too Soon? August 2004 For Whose Benefit? IHG s Beef with IAC August 2004 Online Travel Agencies: Uninvited Guests Are Now Part of the Corporate Travel Mix July 2004 The New Economics of Corporate Travel July 2004 From Property to Screen: Managing Online Hotel & Lodging Distribution June 2004 PhoCusWright s Online Travel Overview: Market Size and Forecasts May 2004 PhoCusWright Presentation: Trends In Dynamic Packaging May 2004 Life After SARS: Low-Cost Carriers, Economic Boom, Help Asia Pacific Tourism Spring Back to Life May 2004 U.S. Online Travel Agencies Exploit Hotels, Europe and, Maybe, Cruises April 2004 Online Travel Market Growth Steady, but Uneven March 2004 Amtrak Now Selling 25% Online March 2004 IBM s Position in Corporate Travel Just Got Bigger March 2004 The Indian Railways-Putting E-Commerce on Track in India March 2004 Suppliers Challenge Online Travel Agencies for Consumer Wallet Share March 2004 PhoCusWright Consumer Travel Trends Survey, Sixth Edition Page 7 Information last updated: 11/9/2010

8 January 2004 Ctrip.com, the Other Online Travel IPO: Cracking the China Code January 2004 Online Hospitality Merchant Leakage Simplified January 2004 Internet Marketing & Online Hotel Distribution Channels Page 8 Information last updated: 11/9/2010