Travel Agencies & Services Industry Overview

Companies that provide various types of travel services, including travel agencies, tour operators, cruise lines, and Internet vacation reservations and services.

Summary

No matter the pitchman or price, for the past several years, the travel industry has been anything but up, up and away. Any talk about the current state of the travel industry must be prefaced with a discussion of the preceding few years. A slowing economy at the beginning of this decade already had a number of segments in trouble, most notably the airlines.

Full Travel Agencies & Services Industry Description

Consolidation

The number of travel agencies has decreased in recent years as large agencies have grown through acquisition. Navigant was initially formed out of a merger of four companies, and it acquired 33 additional agencies from 1997 to 2000. In the retail and distributor industry segments, larger size is valuable for distributing travel products that the company can buy at discounted prices, much like stock brokerages. As agencies grow, they often enter into arrangements with hotels, cruise lines, and airlines to promote and favor their services.

Full Travel Agencies & Services Industry Trends

• Adelman Travel Group
• Advanced Travel Partners International
• AIRMILES Travel Promotions Ltd.

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Travel Agencies & Services maps to a number of NAICS codes including:

Full Travel Agencies & Services Industry Codes

• American Society of Travel Agents
  
• Association of Corporate Travel Executives
  
• Travel Industry Association
  

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