Last week, TripHub participated in a roundtable discussion on the groups and meetings market at the PhoCusWright Executive Conference in Los Angeles. This session resulted in a lively discussion about group travel. As a follow up, we thought we would share more of what we have learned about group customers since launching TripHub earlier this year.
To begin, it's a big market! TripHub estimates that roughly 1 in 5 leisure trips is a group trip. What defines a group trip? TripHub's customers represent a diverse audience planning everything from multi-generational family vacations and reunions, to golf, ski and spa getaways with friends, to celebrations (milestone birthdays, anniversaries, weddings, bachelor/ette parties), to soccer tournaments and other trips with their clubs and teams.
The majority of group trips include fewer than 10 travelers. TripHub has been at the forefront of re-defining the group travel market. Historically, the industry has defined "groups" as 10 or more people traveling on the same itinerary. TripHub extends this definition to include any trip outside a nuclear family – if it involves more than one credit card, it's a group! This broader definition encompasses the traditional definition of groups as well as smaller groups of family and friends and larger groups traveling on disparate itineraries (group members frequently travel from multiple origination cities or stay at different facilities when attending events).
Groups plan in advance. In fact, 65% of TripHub's customers are planning their trips over 2 months in advance and roughly 40% are planning 4+ months in advance! Underscoring the difference between group and non-group travel, according to comScore Networks, 75% of U.S. consumers begin their leisure travel planning within just eight weeks of departure. TripHub customers are returning to the site throughout the planning cycle to discuss their plans, make group decisions and coordinate travel details with TripHub's trip blogs and event schedules.
Consistent with broader travel industry trends, the majority of TripHub customers are planning shorter trips. Almost two thirds of TripHub customers are planning weekend or long weekend trips. Roughly 10% (the lucky few!) are planning extended vacations of 2 weeks or longer.
It's also fun to see where customers are traveling. TripHub groups go everywhere! While the majority of customers are traveling domestically in the U.S., almost 30% of TripHub customers are traveling abroad with quite a few heading off the beaten path to Africa, Asia and the Middle East. And while it's not surprising that Las Vegas is our top destination, in the months since launch, TripHub customers have planned trips to 48 states plus Washington DC.
We hope this data provides some insight into the leisure group travel market and how customers are using TripHub today.
We recently partnered with PhoCusWright on their in-depth study of the groups and meetings market. This research, titled Groups and Meetings: Market Opportunity Redefined, will provide detailed insights into online consumer behavior and trends in the group travel market. We look forward to this report being published and suspect that it may serve as a wake up call to the industry with regard to the group travel opportunity.
Comments