Skift State of Travel 2016

STATE OF TRAVEL
2016
This Skift deck curates data from every sector of travel and provides a
wide sweeping overview of the state of the worlds largest sector and
the forces driving it today. This is the State of Travel in 2016.
INTRODUCTION
Welcome to the third annual State of Travel deck. This follows our 2014 global deck
and our 2015 European deck.
The 2016 State of Travel deck draws from our daily coverage of the global travel
industry, from our ongoing series of Skift Trends Reports, and also incorporates
expert research from throughout the travel industry.
It helps frame the current global travel landscape through the lens of data, tables,
charts, and graphs. From developments and new steps in specific verticals to
the wide-ranging and ever-shifting nature of travelers choices and passions, the
following 100+ slides represent significant measures of the industry during the
past year and beyond.
Learn more about the business of global travel, and see how its future of being
defined, by using all of Skift's products, including our daily coverage, our
newsletters, our Skift Trends Reports, our Skift Global Forum, and our content
marketing studio SkiftX.
Written and curated by J.C. Lupis for Skift.
ABOUT SKIFT
Skift is the largest intelligence platform in travel, providing Media, Insights and
Marketing to all sectors of the worlds largest industry.
Based in New York City and covering the travel industry globally, Skift has deep
experience in identifying and synthesizing existing and emerging trends, in its
daily coverage of the global travel industry, through its Skift Trends Reports and its
flagship Skift Global Forum conference.
Within a short span of three years, Skift has become the leading voice in the travel industry, and is now a daily
utility tool used by the top strategists, technologists and marketers in travel.
You have built an incredible platform in travel, and are changing this industry.
There is nothing like it.
Mark Hoplamazian, CEO, Hyatt Hotels
Congratulations on building an outstanding publication for our industry which

is so interesting and worth reading every time it comes out.
Brett Tollman, CEO, The Travel Corporation
Great content, great data, passionate people. Tomorrows news today!

Larry Pimentel, CEO, Azamara Club Cruises.
TABLE OF CONTENTS
Introduction page 2
About Us... page 3
1. Snapshots & Horizons... page 5
2. Tourism & Destinations... page 20
3. Airlines & Airports... page 35
4. Hospitality & the Sharing Economy page 57
5. Bookings & Reservations page 75
6. Travel Marketing & Tech page 83
7. Business Travel page 92
8. Meetings & Events page 102
9. Cruises page 106
10. M&A & VC Funding... page 110
11. Mobile page 118
12. Attractions... page 132
SNAPSHOTS &
HORIZONS
LIKE WHAT YOU SEE?

TALK TO US FOR YOUR NEEDS
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Mastercard, American Express, Hilton, Club Med and many others
create industry thought leadership to talk to the right constituencies
inside the travel industry, using the right storytelling formats.
We do this through trends reports, research, branded content, social
content, video storytelling, in-person events and other content
marketing initiatives, and distribute through the largest travel industry
site, Skift.
Contact us for more details:
Carolyn Kremins
President, Skift
skiftx@skift.com
+1- 212-564-5830
Skift Inc, 1239 Broadway, #703B, New York, NY 10001
TRAVEL & GDP IMPACT
2015
USDbn*
2015
(% of total)
2016
Growth**
Direct contribution to GDP
2,229.8
3.0
3.3
3,469.1
3.4
4.2
Total contribution to GDP
7,170.3
9.8
3.5
10,986.5
10.8
4.0
Direct contribution to employment****
107,833
3.6
1.9
135,884
4.0
2.1
Total contribution to employment****
283,578
9.5
2.2
370,204
11.0
2.5
Visitor exports
1,308.9
6.1
3.0
2,056.0
6.2
4.3
Domestic spending
3,419.9
4.7
3.3
5,245.5
3.9
4.0
Leisure spending
3,621.9
2.3
3.0
5,645.8
2.6
4.2
Business spending
1,106.9
0.7
3.9
1,658.8
0.8
3.7
Capital investment
774.6
4.3
4.7
1,254.2
4.7
4.5
World
*2015 constant prices & exchange rates;

**2016 real growth adjusted for inflation (%);
***2016-2026 annualized real growth adjusted for inflation (%);
**** '000 jobs
SOURCE: World Travel & Tourism Council: 2016
2026
USDbn*
2026
% of total
2026
Growth***
(% PA)
GLOBAL GDP IMPACT, BY INDUSTRY

Automotive
Manufacturing
Chemicals
Manufacturing
Travel &
Tourism
Banking
Education
Agriculture
Mining
Retail (without
wholesale)
$USD billion (2014 prices)
5,000
$4,796
$4,261
$3,897
4,000
$3,111
3,000
$2,365
2,000
$1,590
1,000
$914
$2,436
$2,605
Financial
Services
TRAVEL AND TOURISM GDP GROWTH BY REGION (2016-2026)

annualized
South Asia
South East Asia
North East Asia
Sub Saharan Africa
North Africa
4.2%
3.7%
3.5%
Other Europe
3.5%
Caribbean
3.4%
Oceania
3.2%
5.6%
4.9%
North America
European Union
5.8%
5.2%
Middle East
Latin America
2.7%
7.1%
WORLD GDP GROWTH VS. GROWTH OF VISITOR ARRIVALS AND SPENDING
Total International
Overnight Arrival
(132 cities)
Index
150
144.0
144.7
137.0
140
145.4
138.2
126.9
130
120
World Real GDP
118.8
115.6
112.1
100
104.1
100
2009
2010
SOURCE: MasterCard: 2015
132.0
124.2
114.9
110
10
127.3
Total International
Overnight Arrival
Expenditure
(132 cities)
107.2
2011
109.8
2012
118.9
112.6
2013
2014
2015
GROWTH IN GLOBAL DEMAND FOR AIR TRAVEL
8%
7%
6%
5.9%
5.3%
5.2%
2012
2013
5.9%
6.5%
10-year average growth rate: 5.5%.
5%
4%
3%
2%
1%
0%
2011
11
2014
2015
SOURCE: International Air Transport Association, 2015 . Air Passenger Market Analysis, December 2015. All Rights Reserved.
Available on IATA Economics page.
INTERNATIONAL TOURIST ARRIVALS (2015)
Global
Europe
APAC
Americas
Middle East
-3%
Africa
12
+4.4%

+5%
609 million arrivals
+5%
+5%

+3%
54 million arrivals
53 million arrivals
SOURCE: World Tourism Organization: 2016
1,184 million arrivals
TOP TOURISM SPENDERS IN THE WORLD (2014)
165 USD$ billion +28%
CHINA
USA
GERMANY
UK
RUSSIAN FED.
13
112 USD$ billion

92 USD$ billion
58 USD$ billion
50 USD$ billion
+7%
+1%
+4%
-6%
TOP EMERGING GLOBAL AND U.S. DESTINATIONS IN 2016
GLOBAL
1
Tulum, Mexico
Gatlinburg, Tennessee
Cartagena, Colombia
Orange Beach, Alabama
Porto, Portugal
Destin, Florida
Gatlinburg, United States
South Lake Tahoe, California
Moscow, Russia
Jackson, Wyoming
Brighton, United Kingdom
Estes Park, Colorado
New Delhi, India
Anchorage, Alaska
Banff, Canada
Pittsburgh, Pennsylvania
Lima, Peru
Porland, Maine
Foz do Iguacu, Brazil
Kailua-Kona, Hawaii
10
14
U.S.
SOURCE: TripAdvisor: 2015
U.S. INTERNATIONAL AIR TRAFFIC HITS ANOTHER NEW RECORD
177.6
million
2012
185.4
million
2013
197.3
million
2014
209.1
million
2015
This is International air traffic to/from the US measured by number of passengers (both US and non-US citizens)
15
SOURCE: Office of Travel Tourism Industries: 2016
A RECORD NUMBER OF AMERICANS TRAVELED ABROAD IN 2015
Regions
Regions
TOTAL2015
2015Travelers
Travelers
TOTAL
%CHANGE
CHANGEYOY
YOY
%
MarketShare
Share
Market
Europe 12,598,860 5.9% 17.2%

Caribbean 7,648,197 6.6% 10.4%
Asia
4,842,660 7.4% 6.6%
Central America 2,790,865 3.5% 3.8%

Middle East
2,045,251 14.9% 2.8%
South America 1,869,463 5.5% 2.5%

Oceania 643,485 7.0% 0.9%
Africa
350,572 -2.1% 0.5%
Total Overseas 32,789,353 6.5% 44.6%

Mexico (Total) 28,195,381 8.9% 38.4%

Mexico (Air)
7,993,665 15.3%
Canada (Total) 12,468,380 8.3% 17.0%

Canada (Air)
3,633,045 6.5%
Total North America 40,663,761 8.7% 55.4%

Grand Total 73,453,114 7.7% 100.0%
16
SOURCE: National Travel & Tourism Office/Skift: 2016
U.S. TRAVEL SPENDING & VISITORS
Spending
Visitors
$Billions of Spending
Millions of Visitors
80
$250
70
$200
60
$150
50
$100
40
30
$50
99 00 01
17
02 03
04 05 06 07
08 09
10
11
12
13
14
INTERNATIONAL VISITOR SPEND IN THE U.S. DIPPED IN 2015
International Traveler Receipts in U.S.
Jan-Dec 2015
($billions)
YOY Change
Total Travel and Tourism-Related Exports
$220.756
$216.867
-1.80%
Travel Receipts (for all purposes including education)
$177.240
$178.297
0.60%
Travel Spending
$135.723
$132.685
-2.20%
Medical/Education/Workers Spending
$41.517
$45.612
9.90%
Passenger Fare Receipts*
$43.516
$38.570
-11.40%
*Only U.S. carriers are included in this data.
18
Jan-Dec 2014
($billions)
SOURCE: National Travel & Tourism Office/Skift: 2016
BIGGEST U.S. TRAVEL DAYS OF THE YEAR

RANK
19
DEPARTURE DATE
RELATED HOLIDAY
11/26/2014
Thanksgiving
11/25/2014
Thanksgiving
12/23/2014
Christmas
7/3/2014
4th of July
12/19/2014
Christmas
5/23/2014
Memorial Day
8/29/2014
Labor Day
12/20/2014
Christmas
12/22/2014
Christmas
10
10/10/2014
Columbus Day
11
12/24/2014
Christmas Eve
12
12/26/2014
Columbus Day
13
11/21/2014
Thanksgiving
14
2/14/2014
Valentines Day
15
10/9/2014
Columbus Day
SOURCE: Adobe Digital Index: 2015
TOURISM &
DESTINATIONS
Topic: Tourism & Destinations
SHARE OF INTERNATIONAL TOURIST ARRIVALS, BY CONTINENT (2015)
609 million
51%
277 million
23%
191 million
16%
Europe
21
Asia Pacific
Americas
54 million
53 million
5%
5%
Middle East
Africa
GLOBAL INBOUND TOURISM BY PURPOSE OF VISIT (2014)
53%
27%
14%
6%
Leisure, recreation
and holidays
22
Visiting friends
and relatives,
health,religion,
other
Business and
professional
Not specified
TOP 10 DESTINATION COUNTRIES BY TOTAL TOURISM RECEIPTS

$U.S.
2014
2013
Spain
65.2 billion
62.6 billion
China
56.9 billion
51.7 billion
France
55.4 billion
56.7 billion
Macao (China)
50.8 billion
51.8 billion
Italy
45.5 billion
43.9 billion
United Kingdom
45.3 billion
41.0 billion
Germany
43.3 billion
41.3 billion
Thailand
38.4 billion
41.8 billion
Hong Kong (China)

23
177.2 billion
172.9 billion
United States
38.4 billion
38.9 billion
CHINA OUTBOUND TOURISM GROWTH
2015
2014
109
120
million
million
China to U.S. Air Arrivals Annual 2015:

Non-U.S. Citizens
(Originating PRC)
24
U.S. Citizens
(Returning)
Total Inbound on
Non-stop Flights
Load Factor
(Estimate)
Passengers
2,167,436
982,422
3,149,858
81.8%
% Chg. 2015/14
25.2%
15.1%
21.8%
-0.4% pts
SOURCE: China National Tourism Administration (CNTA)/Xinhua: 2015

Office of Travel Tourism Industries: 2016
GLOBAL TRAVEL & TOURISM COMPETITIVE INDEX (2015)

Value
Spain 5.31
France 5.24
Germany 5.22
United States 5.12
United Kingdom 5.12
25
Switzerland
4.99
Australia
4.98
Italy
4.98
Japan
4.94
Canada
4.92
SOURCE: World Economic Forum: 2015
Based on 14 pillars organized into four

subindexes: Enabling Environment;
T&T Policy and Enabling Conditions;
Infrastructure; and Natural and Cultural
Resources. Scale is on a range of 1-7.
TOP 20 COUNTRIES WHOSE CITIZENS ARE AFFECTED THE LEAST BY VISA RESTRICTIONS (2015)
Mobility
Denmark
Finland
Germany
Italy
160
Luxembourg
Singapore
United Kingdom
France
Japan
Korea (Republic of)
Netherlands
159
Mobility indicates to what extent
citizens around the world are affected
by visa policies. It is a measure ranging
from 0 to 215. The higher the score,
the more mobile the citizens of that
country are.
Sweden
United States of America
Belgium
Canada
Ireland
Norway
Portugal
Spain
Switzerland
26
SOURCE: World Tourism Organization/Skift: 2016
158
FASTEST-GROWING DESTINATIONS FOR LEISURE TRAVEL SPENDING (2016 -2026)

annualized
India
Angola
Uganda
7.4%
Brunei
7.3%
Thailand
7.6%
7.2%
China
7.0%
Myanmar
6.9%
Oman
27
7.8%
6.7%
Mozambique
6.6%
Vietnam
6.6%
TOP 20 GLOBAL CITY DESTINATIONS BY INTERNATIONAL VISITORS (2015)

London 18.82 mn
Bangkok
18.24 mn
Paris 16.06 mn
Dubai 14.26 mn
Istanbul 12.56 mn
New York 12.27 mn
Singapore
11.88 mn
Kuala Lumpur
Seoul
10.35 mn
Hong Kong
8.66 mn
Tokyo
Barcelona
8.08 mn
7.63 mn
Amsterdam 7.44 mn
Rome
7.41 mn
Milan 7.17 mn
Taipei
28
6.55 mn
Shanghai
5.85 mn
Vienna
5.81 mn
Prague
5.47 mn
Los Angeles
5.20 mn
SOURCE:MasterCard: 2015
11.12 mn
TOP 20 GLOBAL CITY DESTINATIONS BY INTERNATIONAL OVERNIGHT VISITOR SPEND (2015)
London $20.23 bn
New York
$17.37 bn
Paris $16.61 bn
Seoul
$15.24 bn
Singapore $14.65 bn
Barcelona
$13.86 bn
Bangkok $12.36 bn
Kuala Lumpur
Dubai
$11.68 bn
Istanbul
$9.37 bn
Taipei
$9.28 bn
Tokyo
$8.44 bn
Hong Kong
$7.44 bn
Los Angeles
$7.36 bn
Madrid
$7.13 bn
Miami
$6.40 bn
Sydney $6.15 bn
Munich
29
$12.02 bn
$5.57 bn
Rome
$5.29 bn
Berlin
$5.22 bn
FASTEST-GROWING DESTINATION CITIES BY INTERNATIONAL OVERNIGHT VISITORS

(2009- 2015 COMPOUND ANNUAL GROWTH RATE)
Colombo
21.1%
Chengdu
20.7%
Abu Dhabi
Osaka
Riyadh
Taipei
Lima
Ho Chi Minh City
20.4%
Xi An
Tokyo
30
19.8%
18.0%
16.2%
14.9%
14.6%
13.9%
12.9%
FASTEST-GROWING DESTINATIONS WITHIN WORLDS TOP 20 MOST VISITED CITIES

(2009- 2015 COMPOUND ANNUAL GROWTH RATE)
14.9%
14.6%
11.7%
11.4%
10.1%
Taipei
31
Tokyo
Bangkok
Seoul
Istanbul
TOP ARRIVAL CITIES IN ASIA (2015)

Rank by International Arrivals
Destination
Arrivals(mns)
Bangkok
21.9
Singapore
11.8
Tokyo
11.8
Kuala Lumpur
11.3
Phuket
9.3
Seoul
9.2
Hong Kong
8.3
Pattaya
8.1
Bali
7.2
10
Osaka
6.5
11
Taipei
6.4
12
Shanghai
5.5
13
Siem Reap
4.8
14
Hokkaido
4.7
15
Mumbai
4.6
16
Chennai
4.5
17
Chiba
4.2
18
Beijing
4.0
19
Guangdong
3.9
(excl. major cities)
20
32
SOURCE: Mastercard/ Skift: 2016
Phnom Penh
3.7
NORTH AMERICAS FASTEST-GROWING DESTINATION CITIES BY

INTERNATIONAL OVERNIGHT VISITORS
2015 Overnight International Visitors (millions)
2011
2012
2013
2014
2015
% CAGR
2009 to 2015
2015
Visitor
Spend
(US$bn)
USA
1.02
1.13
1.28
1.45
1.52
10.5%
$2.2
Los Angeles
USA
4.45
4.48
4.60
4.94
5.20
7.8%
$7.4
Miami
USA
3.25
3.77
4.30
4.40
4.52
7.5%
$6.4
New York
USA
10.26
10.59
11.07
11.86
12.27
6.0%
$17.4
San Francisco
USA
2.87
2.82
3.05
3.21
3.39
5.9%
$4.8
Toronto
Canada
3.41
3.53
3.68
4.02
4.18
4.3%
$2.4
Boston
USA
1.52
1.46
1.48
1.61
1.64
3.9%
$2.3
Vancouver
Canada
3.12
3.15
3.30
3.50
3.76
3.4%
$2.7
Chicago
USA
1.97
2.17
2.19
2.37
2.35
3.0%
$3.3
10
Montreal
Canada
1.94
1.93
1.95
2.04
2.12
2.9%
$1.2
Destination
City
Country
Houston
Rank
Only destinations with more than one million international overnight arrivals in 2015 were included in this ranking.
33
TOP TRENDING DESTINATIONS ON AIRBNB (2015)

7000% Growth
Ch-ku in Osaka, Japan

Banglampoo in Bangkok, Thailand
1230% Growth
Brickfields, Kuala Lumpur, Malaysia
1200% Growth
Capucins in Bordeaux, France
960% Growth
Koukaki in Athens, Greece
800% Growth
Triana in Seville, Spain
770% Growth
Hammerbrook in Hamburg, Germany
415% Growth
Kaneohe on Oahu, Hawaii, U.S.
320% Growth
Meireles in Fortaleza, Brazil
285% Growth
Roma Sur in Mexico City, Mexico
275% Growth
Oak Lawn in Dallas, Texas, U.S.
260% Growth
Poncey-Highland in Atlanta, Georgia, U.S.
240% Growth
District VII in Budapest, Hungary
145% Growth
The Bukit Peninsula, Bali
130% Growth
Richmond in Melbourne, Australia
126% Growth
Constitucin in Buenos Aires, Argentina
125% Growth
* Percent growth of inbound guests staying in listings on Airbnb in these neighborhoods from 2014 to 2015, with a minimum of 50 guests in 2014
34
SOURCE: Airbnb: 2016
AIRLINES &
AIRPORTS
LIKE WHAT YOU SEE?


site, Skift.
Carolyn Kremins
President, Skift
skiftx@skift.com
+1- 212-564-5830
36
GLOBAL GROWTH IN AIR PASSENGER VOLUME (2015)
37
Global
6.1%
Middle East
11.3%
APAC
8%
North America
5.6%
LatAm/Caribbean
5.5%
Europe
5%
Africa
-0.1%
SOURCE: Airports Council International (ACI): 2016
WORLD AIRPORT TRAFFIC STATISTICS

REGIONS
PASSENGERS
CARGO
MOVEMENTS
38
Africa
APCA
Europe
LATAM
Middle East
North America
Total

Africa
APCA
Europe
LATAM
Middle East
North America
Total

Africa
APCA
Europe
LATAM
Middle East
North America
Total
SOURCE: Airports Council International (ACI): 2015
Y/E APRIL 2015
144,904,667
1,527,745,570
1,731,006,669
466,288,259
252,145,032
1,577,419,750

5,699,509,947

1,423,776
32,887,440
17,562,492
4,592,203

7,076,475

28,150,569

91,692,956

2,011,091
12,135,256

18,526,728
6,630,431
1,992,885
25,546,557

66,842,948
Passengers
total passengers enplaned and

deplaned, passengers in transit
counted once.
Cargo
loaded and unloaded freight

and mail in metric tonnes.

Movements landing or take-off of an aircraft.
The Airport Traffic Report
Summary is a comparison of
airports with complete data
series for the 12- month period
under review, Number of
participating airports by region:
AFR: 122: ASP: 140; EUR: 444; LAC:
198; MEA: 18;: 1085
MOST CONNECTED AIRPORTS IN THE WORLD (2015)

Airport
Country
Connectivity Index*
ATL
USA
2503
ORD
USA
2280
DFW
USA
1940
CLT
USA
1585
IAH
USA
1028
DTW
USA
903
CGH
Brazil
880
DEN
USA
877
MEX
Mexico
826
10
PHX
USA
778
11
SFO
USA
738
12
SEZ
USA
718
13
LHG
UK
692
14
PHL
USA
673
15
BOS
USA
663
16
MSP
USA
659
17
CGK
Indonesia
652
18
HND
Japan
643
19
GRU
Brazil
635
20
SYD
Australia
623
*OAG calculated a Connectivity Index for each airport as a ratio of the number of possible connections to the
number of destinations served by each airport.
39
SOURCE: OAG, the air travel intelligence company
TOP 10 FOREIGN AIRPORTS BY U.S. PASSENGER TRAFFIC (2015)

81.7 million Passengers, 39% of Total International Air Traffic
Passengers (millions)
London Heathrow (LHR)

Toronto (YYZ)
Tokyo Narita (NRT)
Cancun (CUN)
14.806
2.0%
12.371
6.0%
9.289
-1.3%
16.7%
8.253
Paris/de Gaulle (CDG)
7.028
6.1%
Mexico City (MEX)
7.012
10.3%
Frankfurt (FRA)
Incheon (ICN)
Vancouver (YVR)
Amsterdam(AMS)
40
% Chg Y-o-Y
6.818
2.1%
6.005
13.6%
5.25
8.1%
4.893
4.2%
TOP GLOBAL AIRPORTS (LARGE CATEGORY) BY ON-TIME PERFORMANCE

Airport Name
Tokyo Haneda
91.25%
Munich
87.71%
So Paulo Guarulhos
87.47%
Minneapolis
85.27%
Sydney
85.20%
Melbourne
85.02%
Singapore Changi
84.75%
Atlanta
84.38%
Frankfurt
84.12%
10
Seattle
83.56%
11
Phoenix
83.53%
12
Madrid
82.62%
13
Chariotte
81.43%
14
Las Vegas
81.40%
15
Amsterdam
81.15%
16
Orlando
80.79%
17
Boston
80.68%
18
Houston
80.10%
19
Miami
80.08%
20 Dallas/Fort Worth
41
Average OTP 2015
79.89%
TOP GLOBAL AIRLINES BY ON-TIME PERFORMANCE

Airline Name
airBaltic
94.39%
Copa Airlines
91.69%
Azul
91.03%
Japan Airlines
90.44%
All Nippon Airways
89.65%
Finnair
89.52%
TAM
89.50%
Austrian Airlines
89.28%
Hawaiian Airlines
89.11%
10
LOT - Polish Airlines
88.88%
11
Virgin Australia
88.56%
12
KLM
88.45%
13
SAS
88.21%
14
Monarch Airlines
88.18%
15
Qantas Airways
88.08%
16
Iberia
87.53%
17
Flybe
87.47%
18
Air New Zealand
87.33%
19
Qatar Airways
87.12%
20 Norwegian Air Shuttle
42
Average OTP 2015
86.67%
TOP AIRLINES BY ON-TIME PERFORMANCE (2015,U.S.)

Carrier*
12 Months Ending Dec 2015

%
Rank
Hawaiian
88.4
Alaska
86.4
Delta
85.9
American
80.3
Virgin America
79.9
SkyWest
79.7
Southwest
79.9
United
78.2
ExpressJet
77.9
JetBlue
76.0
10
Envoy
74.1
11
Frontier
73.2
12
Spirit
69.0
13
Total
79.9
* All U.S. airlines with at least one percent of total domestic scheduled-service passenger revenues.
43
SOURCE: U.S. Department of Transportation: 2016
SYSTEMWIDE AIR TRAVEL IN THE U.S.

Annual
2014
2015
% Change
Passengers (in millions)
853.1
895.5
5.0
Flights (in thousands)
9,553.8
9,526.0
-0.3
Revenue Passenger Miles (in billions)
1,221.9
1,289.0
5.5
Available Seat-Miles (in billions)
1,478.1
1,559.5
5.5
Load Factor
82.7
82.7
0.0
Flight Stage Length*
914.2
941.2
2.9
Passenger Trip Length**
1,432.2
1,439.4
0.5
* The average non-stop distance flown per departure in miles

** The average distance flown per passenger in miles
44
SOURCE: United States Department of Transportation: 2016
U.S. AIRLINE SEASONALLY-ADJUSTED LOAD FACTOR

Systemwide (Domestic + International) passenger enplanements (seasonally-adjusted) in millions
90
82.9
83.1
83.2
Aug 12
Dec 12
83
82.8
Apr 13
Aug 13
83.3
83.8
83.4
82.9
83
Dec 14
Apr 15
83.7
84.3
80
Apr 12
Dec 13
Apr 14
Aug 14
Aug 15
Dec 15
Load factor is a measure of the use of aircraft capacity that compares the system use, measured in RPMs as a proportion of system
capacity, measured in ASMs.
45
U.S. AVERAGE Q3 DOMESTIC ITINERARY FARES

dollars ($)
500
461
459
450
447
417
400
406
399
401
404
396
390
387
374
378
377
370
396
372
372
366
338
300
1995
1996 1997
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2011
BTS reports average fares based on domestic itinerary fares. Constant 2015 dollars are used for inflation adjustment.
46
SOURCE: United Stated Department of Transportation: 2016
2012
2013 2014 2015
TOP 10 BUSIEST U.S. AIRPORTS BY ENPLANED PASSENGERS

Passenger numbers in millions
47
2015
Rank
Airport
2014
Rank
2014 Enplaned
Passengers
Atlanta
49.314
46.577
5.9
Los Angeles
36.228
34.278
5.7
Chicago O'Hare
36.185
33.715
7.3
Dallas/Fort Worth
31.558
30.775
2.5
New York JFK
27.601
26.196
5.4
Denver
26.251
25.978
1.1
San Francisco
24.131
22.743
6.1
Charlotte
21.895
21.520
1.7
Las Vegas
21.638
20.349
6.3
10
Phoenix
21.331
10
20.328
4.9
2015 Enplaned
Passengers
SOURCE: United Stated Department of Transportation: 2016
Pct. Change
2014- 2015
TOP 10 U.S. AIRPORTS BY PASSENGER TRAFFIC TO/FROM FOREIGN AIRPORTS (2015)

145.0 million Passengers, 69% of Total Air Traffic
New York (JFK)
30.438
7.0%
21.3
4.6%
20.866
7.8%
Chicago (ORD)
12.112
0.5%
Newark (EWR)
11.97
-0.8%
San Francisco (SFO)
11.264
9.0%
Atlanta (ATL)
11.196
3.0%
10.705
7.8%
7.89
8.8%
7.224
0.2%
Miami (MIA)
Los Angeles (LAX)
Houston (IAH)
Dallas-Ft Worth (DFW)
Washington Dulles (IAD)
48
% Chg Y-o-Y
TOP U.S. AIRLINES BY SCHEDULED ENPLANEMENTS

Passenger numbers in millions
2015
Rank
Carrier
2014
Rank
2014 Enplaned
Passengers
American*
146.550
87.830
66.9
Southwest**
144.575
135.764
6.5
Delta
138.591
129.210
7.3
United
95.327
90.373
5.5
JetBlue
35.074
32.056
9.4
SkyWest
30.078
27.786
8.2
ExpressJet
26.003
30.950
-16.0
Alaska
22.828
20.935
9.0
Spirit
17.629
11
13.979
26.1
10
Republic
13.908
12
13.047
6.6
2015 Enplaned
Passengers
Pct. Change
2014- 2015
* American Airlines 2015 passenger number includes 28.256 million passengers reported as US Airways from Jan-Jun 2015. US Airways reported 57.514 million passengers in 2014 and was the fifth ranking airline.
** Southwests numbers include AirTran. The merged Southwest and AirTran reported separately through December 2014 although operating under a single certificate.
49
TOP AIRLINES SERVING U.S. INTERNATIONAL NON-STOP MARKETS (2015)

116.3 million Passengers, 56% of Total Air Traffic
United Airlines 30.504
-0.10%
Delta Air Lines 24.118
4.50%
American Airlines*
British Airways
7.228
24.049
8.20%
0.50%
JetBlue Airways
6.432
11.60%
US Airways*
6.197
n/a
Lufthansa
5.693
3.20%
WestJet 4.326
Air Canada (mainline) 4.049
Air France 3.717
*American Airlines and US Airways merged in October 2015

50
% Chg Y-o-Y
1.10%
-5.60%
7.50%
NET INCOME FOR U.S. CARRIERS

2012
2012
2013
2013
2014
2014
2015
2015
282,081
-660,979
654,051
1,113,817
6,477,781
685,990
978,519
1,144,629
10,549,234
684,469
3,551,016
American Airlines
-469,218
-1,965,101
-1,926,101
-15,25,707
1,309,739
3,342,574
Southwest Airlines
458,908
300,662
431,308
754,469
1,136,501
1,645,320
Alaska Airlines
250,474
256,434
301,601
497,328
598,449
641,587
JetBlue Airways
96,652
86,251
127,284
167,967
395,630
487,086
Spirit Air Lines
25,439
67,340
95,711
166,336
291,221
251,877
Hawaiian Airlines
114,375
7,967
66,260
62,358
79,787
153,910
Virgin America
-67,401
-100,403
-145,387
11,811
60,109
149,630
Frontier Airlines
-19,379
-72,055
4,735
11,642
129,029
113,795
SkyWest Airlines
57,719
36,557
66,284
87,082
46,486
85,770
Envoy Air
52,625
13,525
-32,267
33,248
5,814
-17,848
ExpressJet Airlines
13,642
-31,900
-10,699
-32,279
-84,017
-17,089
Atlas Air
137,446
80,252
103,286
67,144
66,316
-2,550
2010
2011
United Air Lines
401,598
Delta Air Lines
Net income ($000s)
These are U.S. carriers with at least $20m/year revenue.
51
MOST VALUABLE AIRLINE BRANDS

2016
Emirates Airlines
Delta
7,743
6,640
6,301

3,649
4,621
British Airways
Air China
3,645
4,474

52
SOURCE: Brand Finance: 2016
4,154
3,679
3,466
3,494
2,774
3,436
China Eastern Airlines
Lufthansa
4,861
2,953
Southwest
Qatar Airways
6,336
6,156
American Airlines
United
Brand Value
( $Millions)
2015
2,914
2,999

4,099
WORLDS MOST INTERNET-CONNECTED AIRLINES

% of available seat miles with at least a
chance of Wi-Fi - top 20 airlines
Scoot
100
% of available seat miles on long haul routes

with at least a chance of Wi-Fi - top 20 airlines
Lufthansa
100
Virgin America
96.37
Aeroflot
97.76
Icelandair
96.23
Garuda
95.86
Delta
88.51
United
95.14
Southwest
86.11
Aer Lingus
91.42
Etihad
85.51
Eithad
89.29
United
82.35
Emirates
80.43
Emirates
73.43
Oman
79.52
Norwegian
72.22
Iberia
78.64
68.5
Delta
78.37
American
Alaska
68.27
Philippine
72.12
JetBlue
67.58
SAS
68.55
Lufthansa
64.6
Turkish
61.14
Japan (JAL)
61.29
Japan(JAL)
60.79
Virgin Atlantic
49.94
ANA
60.68
Singapore
49.45
Singapore
59.75
Philippine
49.28
China Airlines
53.81
Iberia
47.88
Virgin Atlantic
49.9
Garuda
45.98
Qatar
41.17
Kuwait
45.59
Saudia
40.27
Only airlines with at least 8 flights and 8 Wi-Fi equipped aircraft were included in the rankings. Long-haul is defined as flights longer than 2,800 miles.
53
SOURCE: Routehappy. Data are based on global flight schedules and Routehappy data for flights departing February 8, 2016.
U.S. AIRPORTS WITH BEST WI-FI (2015)

Mbps
Denver
International
(DEN)
4.73
Dallas
(Fort Worth)
(DFW)
4.00
Los Angeles
(LAX)
3.65
New York
(JFK)
3.55
Chicago
(O Hare)
(ORD)
3.48
San Francisco
(SFO)
3.26
Altanta
(Hartsfield)
(ATL)
3.05
These rankings are derived from the 7 busiest airports in the U.S. wefis analysis based on data from March through May 2015
54
SOURCE: wefi: 2016
AIRLINES' MAJOR UPTAKE IN SELF-SERVICE CHECK-IN

By 2018
2015
49%
29%
23%
20%
20%
17%
12%
10%
8%
4%
4%
1%
Desktop
55
Desktop/
Laptop
SOURCE: SITA, Airline IT Trends Survey 2015
Kiosk
Smartphone
Tablet
3%
0%
Automatic
Other
WI-FI ROLLOUT - US CARRIERS
Fully rolled out
More than 2/3 rolled out
1%
1/3 to 2/3 rolled out
4%
Up to 1/3 rolled out
2%
No Wi-Fi
71%
22%
When flying on a US airline, 71% of available seat miles (ASMs) are fully rolled out with Wi-Fi, while 22% have no Wi-Fi
56
SOURCE: Routehappy. Data are based on global flight schedules and Routhappy data for flights departing February 8, 2016.
HOSPITALITY &
THE SHARING
ECONOMY
LARGEST U.S. HOTEL BRANDS BY CHAIN SCALE SEGMENT (2015)

Chain Scale
Segment
58
Brand Rankings
Rooms
Parent Company
Rankings
Rooms
Luxury
JW Marriott
The Ritz Carlton
Loews Hotels
13,962
11,574
9,436
Marriott International, Inc.

Starwood Hotels & Resorts Worldwide, Inc.
Hyatt Hotels Corporation
26,103
14,233
10,816
Upper Upscale
Marriott
Hilton
Sheraton
126,146
99,137
66.017

Hilton Worldwide Holdings
Starwood Hotels & Resorts Worldwide, Inc.
176,349
155,272
118,204
Upscale
Courtyard by Marrott
Residence Inn
Hilton Garden Inn
124,650
81,432
78,607

InterContinental Hotels Group PLC
246,429
197,868
65,159
Upper Midscale
Holiday Inn Express

Hampton by Hilton
Holiday Inn
166,757
115,302
104,639
InterContinental Hotels Group PLC

Choice Hotels International, Inc.
271,569
200,792
159,971
Midscale
Quality Inn
La Quinta Inns & Suites
Best Western
109,834
86,327
84,168
Choice Hotels International, Inc.

Wyndham Worldwide Corporation
LQ Management LLC
140,728
95,156
86,327
Economy
Days Inn
Motel 6
Super 8
115,938
108,795
99,533
Wyndham Worldwide Corporation

G6 Hospitality
Choice Hotel International, Inc.
301,868
118,170
88,513
SOURCE: Hotel News Now: 2016
HOTEL BRANDS BY MARKET CAP (2015-2016)

2016
2015
Brand Value
Hilton
Marriott
Starwood
Accor
InterContinental Hotels Group
Wyndham
Hyatt
Choice Hotels
59
SOURCE: Skift and Google Finance
$21.89B
$27.68B

$16.58B
$21.1B

$13.16B
$14.05B
$9.75B
$12.6B

$9.53B
$9.87B
$8.43B

$10.09B
$6.41B

$8.14B
$2.94B
$3.24B
HOTEL GROUPS WITH MOST FACEBOOK CHECK-INS IN 2015

check-ins
Hilton Hotels & Resorts
Sheraton Hotels & Resorts
2.62 million
Marriott Hotels
Hyatt Regency
1.80 million
1.90 million
Westin Hotels & Resorts
1.72 million
Best Western
1.69 million
JW Marriott
1.46 million
DoubleTree by Hilton
1.42 million
Novotel
ibis
60
4.13 million
SOURCE: MediaPost:2016
1.13 million
880,000
TRAVELERS CHOICE HOTELS IN THE U.S. AND GLOBAL (2016)

U.S.
The Sherry-Netherland Hotel
Umaid Bhawan Palace Jodhpur Jodhpur, India
Bardessono
Shinta Mani Resort Siem Reap, Cambodia
The Nantucket Hotel & Resort
Bellevue Syrene Sorrento, Italy
French Quarter Inn
Hanoi La Siesta Hotel & Spa Hanoi, Vietnam
The Oxford Hotel
Achtis Hotel Afitos, Greece
Ponte Vineyard Inn
Belmond Le Manoir aux QuatSaisons Great Milton, United Kingdom
Icona Diamond Beach
Mirihi Island Resort Mirihi, Maldives
The Talbott Hotel
Bucuti & Tara Beach Resorts Aruba Palm - Eagle Beach, Aruba
Belamere Suites
Calabash Luxury Boutique Hotel & Spa Lance aux Epines, Grenada
Casablanca Hotel Times Square
Hotel Ritta Hppner Gramado, Brazil
10
61
GLOBAL
FASTEST-GROWING REGIONS BY NEW HOTELS
FEB 2016 PIPELINE
62
# OF ROOMS UNDER CONTRACT
Asia/Pacific
594,917
U.S.
497,409
Europe
163,826
Middle East
151,454
Central/South America
74,668
Africa
62,191
Caribbean/Mexico
31,886
SOURCE: STR Global: 2016
HOTEL OPENINGS IN 2016
CITY
North
America
New York
Miami
Houston
26
20
13
Europe
London
Frankfurt
Hamburg
19
11
10
Rio de Janeiro
Cartagena
Sao Paulo
6
4
4
South
America
63
HOTELS
SOURCE: American Express: 2016
Middle
East
Asia
Africa
CITY
HOTELS
Dubai
Riyadh
Doha
25
17
15
Shanghai
Chongqing
Bali
14
12
10
Cairo
Marrakech
Algiers
7
5
5
GROWTH IN 4 AND 5 STAR HOTELS UNDER CONSTRUCTION 2014-2016
% change by region
North & Central America

South America
APAC
+95%

Middle East
Africa
18%
64
SOURCE: American Express: 2016
+128%
+38%
+20%
+9%
Europe
TOTAL U.S. PIPELINE, BY PHASE AND SEGMENT
Chain
Scale
Preliminary Existing
Supply
(as of Dec 31, 2015)
%
Change
In
Construction
%
Change
Under Contract
%
Change
Unaffiliated
1,533,422
-0.2%
17,749
+13.2%
89,757
-11.0%
Upper Midscale
888,843
+1.4%
47,954
+36.1%
157,034
+23.9%
Economy
784,149
+1.3%
1,512
+130.8%
6,801
+70.0%
Upscale
660,640
+4.7%
49,203
+10.8%
135,580
+18.1%
Upper Upscale
583,906
+2.7%
11,524
-13.5%
38,885
+23.4%
Midscale
479,040
-0.8%
5,321
+1.3%
29,533
+17.0%
Luxury
108,485
+0.4%
7,440
+35.0%
11,549
+18.7%
Total
5,038,485
+1.2%
140,703
+17.2%
469,139
+13.6%
JW Marriott
65
SOURCE: STR, Inc./Hotel News Now: 2016
U.S. HOTEL PERFORMANCE IN 2015

YTD Variance (%)
2015 vs 2014
8%
7%
+6.3%
6%
5%
+4.4%
4%
3%
2%
+1.7%
1%
0%
Occupancy
66
SOURCE: STR, Inc.: 2015
Avg Daily Rate
Revenue Per Avail Room
NORTH AMERICAN HOTEL METRICS BY TRAVEL SEGMENT

ADR
Reserved Occupancy*
RevPAR
7.2%
5.3%
4.3%
3.8%
3.3%
2.9%
2.5%
2.7%
2.9%
2.9%
2.0%
1.4%
2.3%
0.6%
-0.9%
All Travel Segments
Group Only
Transient Only
Business + Leisure
Figures show "Y-o-Y growth in Q4 2015

*Reserved Occupancy Total number of rooms reserved / capacity
67
SOURCE: TravelClick: 2015
Transient Business
Transient Leisure
AIRBNB-ACCOMMODATED DEMAND AS A PERCENT OF TRADITIONAL HOTEL DEMAND

(U.S.)
Demand: Airbnb/Hotel
2.0%
1.8%
1.6%
1.4%
1.2%
1.0%
0.8%
0.6%
0.4%
0.2%
0%
Oct
Nov
Dec
2014
68
SOURCE: CBRE Hotels/Skift: 2016
Jan
2015
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
AIRBNB VS. PUBLIC COMPETITORS: PRICE TO SALES RATIO
27.8
6.6
2.5
Airbnb
69
HomeAway
SOURCE: CB Insights: 2015
Starwood
2.4
Expedia
1.9
1.6
Wyndham
Marriott
Projected 2015 revenue for Airbnb vs. Trailing 12 months of public companies (6/18/2015)
AIRBNB VS. PUBLIC COMPETITORS: REVENUE GROWTH
2015 vs. 2014

Airbnb
113%
HomeAway
24%
20%
Expedia
8%
Marriott
6%
Wyndham
-2%
Starwood
Airbnb revenue calculated as 2014 v. 2015 projected. Public competitor revenue calculated as Q1 2015 Trailing 12 months vs. Q1 2014 Trailing 12 months
70
AIRBNB VS. HOTELS BY REVENUE, Q3 2015
Company
71
Valuation/Market Cap
Q3 Revenue
Marriott International
$18.59B
$3.6B
Hilton Worldwide
$23.2B
$2.9B
Accor Hotels
$10.2B
$1.58B
Wyndham
$8.9B
$1.56B
Starwood Hotels
$12.4B
$1.4B
Hyatt Hotels
$6.9B
$1B
Airbnb
$25.5B
$340M
Choice Hotels
$2.9B
$241.5M
SOURCE: Skift: 2015
BIGGEST AIRBNB CITIES OUTSIDE OF THE U.S.

Entire Homes
Paris
London
Rome
Barcelona
Rio de Janeiro
Copenhagen
Milan
Sydney
Amsterdam
Istanbul
Bali
Tel Aviv
Madrid
Toronto
Lisbon
Buenos Aires
Florence
Melbourne
Munich
Lyon
Sao Paulo
Tokyo
Prague
Vienna
Seoul
72
Private Rooms
40667
5622
16470

11654

14119
6752
9768
8265

13108
4788
12770
2352

10094

3822
4887
7251

2275

9653

4898
6688
6819

3544
8531
1803
5012
3655
5753
2800
5888

5675
5327
2255
1824
1842
3310
3061
3362
2838
4624
1617
3358
2758
4295
1458
4392
1230
3820
1705
2938
2587
SOURCE: AirDNA: 2015
These are the largest based on combined Entire Home and Private Room listings
CITIES OUTSIDE U.S. WITH THE HIGHEST AIRBNB DEMAND

Tokyo
68.3%
Melbourne
65.9%
Osaka
64.1%
Vancouver
64.1%
Singapore
Lisbon
61.8%
Berlin
61.6%
Amsterdam
60.5%
Sydney
60.0%
London
59.9%
Brisbane
59.4%
Mexico City
59.3%
Barcelona
59.1%
The Hague
59.0%
Dublin
58.6%
Hong Kong
58.6%
Paris
58.5%
Buenos Aires
57.8%
Munich
57.4%
Bangkok
56.9%
Madrid
56.9%
Budapest
56.6%
Zurich
56.6%
Calgary
56.5%
Average occupancy rates on entire home listings from Jan-Sep 2015
73
63.1%
TOP-PERFORMING AIRBNB PROPERTIES

# of Properties
Airbnb City
Total Entire Home

Listings
% Top Performing
Venice, CA 126 875 14%

Santa Monica
77 549 14%
San Francisco
375 2812 13%
Berkeley 57 465 12%

New York
831 7854 11%
Portland 131 1198 11%

Honolulu 74 828 9%
Los Angeles
366 4742 8%
Brooklyn 312 3884 8%

Oakland 40 522 8%
The top 10 in terms of % top performing is derived from the list of cities with the most number of top-performing properties.
Top-performing listings are those with more than 20 reviews that achieved at least a 70% occupancy rate in the 12 months preceding July 2015
74
BOOKINGS &
RESERVATIONS
LIKE WHAT YOU SEE?


site, Skift.
Carolyn Kremins
President, Skift
skiftx@skift.com
+1- 212-564-5830
76
WORLDWIDE DIGITAL TRAVEL SALES, BY REGION

Digital Travel Sales
(Billions)
$242.57
250
Asia-Pacific
$214.87
$202.13
$192.36
200
$179.02
$163.85
$160.31
$151.73
150
$161.97
$140.45
100
Western Europe
$189.69
$171.07
$220.06
$178.76
$185.52
$139.12
$116.11
50
$24.92
$20.33
$211.41
North America
$8.85
$29.97
$36.26
$23.97
$28.12
$9.71
$10.62
$42.44
$32.87
$11.66
$48.31
$38.33
$55.26
Latin America
Middle East & Africa
$44.63
Central & Eastern Europe

$13.10
$14.30
2014 2015 2016 2017 2018 2019
77
SOURCE: eMarketer: 2015
CHANNELS USED TO BOOK ACCOMMODATIONS

Last 12 Months
60%
56%
54%
Next 12 Months
56%
48%
50%
% of Travelers
40%
30%
30%
29%
20%
18%
16%
12%
13%
10%
0%
Online
Travel Agency
Hotel Website
Travel Agent
Airbnb
HomeAway,
VRBO, Other
Rental Site
Results based on survey of 4,116 adults aged 18+ evenly distributed across the U.S., U.K., France, and Germany in November 2015.
78
SOURCE: Morgan Stanley Research: 2015
SHARE OF NORTH AMERICAN TRANSIENT ROOMS BOOKED BY CHANNEL

Q1 2015
Q2 2015
29.1%
Brand.com
(Bookings through hotel company websites)
28.5%
22.0%
Direct to Hotel
23.6%
19.3%
Global Distribution Systems

(In-person travel agents)
Online Travel Agents
CRO
(Calls to hotels 800-numbers)
20.6%
16.4%
14.8%
13.3%
13.1%
The chart illustrates the share of transient room nights by channel based on actual reservations.
79
SOURCE: TravelClick: 2015
AIRBNBS SHARE OF ONLINE LEISURE PENETRATION, VERSUS OTAS

50%
40%
39%
40%
43%
37%
37%
11%
11%
44%
44%
38%
37%
41%
35%
31%
43%
Priceline
Expedia
32%
30%
27%
22%
20%
15%
10%
6%
8%
12%
Airbnb
7%
10%
8%
3%
12%
7%
brand.com/Other OTAs
0
2014
2015
2016 (E)
2017 (E)
Assume Priceline/Expedia/Airbnb room nights are 80%/ 80%/ 90% leisure
80
SOURCE: Morgan Stanley Research: 2015
2018 (E)
2019 (E)
2020 (E)
ONLINE BOOKING TOP IMPROVEMENT IN AIR TRAVEL
Ease of booking online
Comparison shopping on flight search sites
Availability of in-flight Wi-Fi
63%
55%
33%
Airline check-in process
30%
Ability to find comprehensive fare,

flight and price information on a single site
29%
Results based on 2015 survey of more than 2,700 US travelers
81
POPULAR ONLINE BOOKING SITES
Booking.com
Tripadvisor.com
Expedia.com
124.1m
50.9m
Hotels.com
44.1m
Agoda.com
41.4m
Airbnb.com
40.1m
Figures are for January 2016 and are limited to .com domains.
82
SOURCE: SimilarWeb: 2016
306.6m
(total desktop + mobile web visits)
TRAVEL
MARKETING &
TECH
INTERNET ADVERTISING REVENUE BY INDUSTRY: 2015

% of total
Half-Year 2015
Retail
22%
21%
Financial Services
13%
13%
Auto
13%
12%
Half-Year 2014
84
Telecom
9%
9%
Leisure Travel
9%
9%
Consumer Packaged Goods
6%
7%
Consumer Electronics & Computers
7%
7%
Pharma & Healthcare
5%
5%
Media
5%
5%
Entertainment
4%
4%
SOURCE: Interactive Advertising Bureau: 2015
U.S. MOBILE ADVERTISING SPEND BY INDUSTRY (2015)

% of total
23.2%
12.1%
$3.49
Automotive
12.0%
$3.43
Telecom
11.4%
Travel
8.3%
$2.38
8.1%
$2.33
Computing products &

consumer electronics
7.3%
$2.09
Media
6.0%
Entertainment
5.2%
$1.50
Pharma & Healthcare
2.3%
$0.66
Other
4.2%
Retail
Financial services
Consumer Packaged Goods

& consumer products
85
billions
$3.27
$1.73
$1.20
$6.65
GLOBAL TRAVEL INDUSTRY FACEBOOK AD BENCHMARKS

Cost Per Impression
Q4 2014 $5.60
Q1 2015 $4.03
Cost Per Click

Q4 2014
$0.28
Q1 2015
$0.39
Click Through Rate

Q4 2014
2.03%
Q1 2015
86
SOURCE: Salesforce: 2015
1.05%
SOCIAL MEDIA BRANDED POST-INTERACTION RATE BY INDUSTRY (GLOBAL, 2015)
Technology
2.7
Automotive
2.7
Media & Entertainment
2.7
Retail
2.4
Travel & Hospitality
2.4
Financial Services
87
SOURCE: Adobe Digital Index/CMO.com: 2016
1.2
SEARCH ENGINES ARE TOPS FOR HOTEL RESEARCH, BOOKING INFLUENCE

% of respondents by where
travel research begins
% of respondents by most
influential source in booking
48.4%
48.4%
28.4%
27.9%
20.4%
17.4%
13.9% 13.8%
5.8%
Search
Engine
Property
Website
OTA
Review Site
Compiled from more than 2,900 U.S. and Canadian respondents all of whom planned and consumed at least one
leisure vacation in the past 12 months
88
SOURCE: Fuel: 2016
TOP SEARCH TERMS IN TRAVEL

Branded Keywords
(Jan.- Nov. 2015)
89
Non-Branded Keywords
(Jan.- Nov. 2015)
Expedia
Flight Tracker
Kayak
Hotels
American Airlines
Flights
TripAdvisor
Restaurants near me
Southwest
Flight status
Southwest Airlines
Vacation rentals
United Airlines
Cheap airline tickets
Airbnb
Cruises
Orbitz
Plane tickets
10
Cheap flights
Las Vegas
SOURCE: SimilarWeb/Travolution: 2016
TRAVEL INDUSTRY PAID SEARCH GROWTH (GLOBAL)
25%
22%
20%
20%
Click Through Rate
18%
15%
12%
9%
10%
11%
8%
5%
0%
1%
0%
-1%
-5%
Cost Per Click
Spend
-6%
-10%
90
Q4 2014
SOURCE: Adobe Digital Index: 2016
Q1 2015
Q2 2015
-8%
Q3 2015
Q4 2015
TRAVEL TOPS INDUSTRIES IN INTERNET OF THINGS (IOT) SPENDING

Average loT spending
per company (millions)
Average revenues per

company (billions)
loT spending % of
company revenues
Travel, transportation
and hospitality
$128.9
$21.49
0.60%
Industrial
manufacturing
$121.3
$21.16
0.57%
Banking and
financial services
$117.4
$26.43
0.44%
Telecom
$110.7
$20.22
0.55%
High tech
$96.9
$24.72
0.39%
Automotive
$93.5
$26.89
0.35%
Insurance
$77.7
$25.99
0.30%
Energy
$74.9
$33.69
0.22%
Utilities
$67.7
$14.41
0.47%
Healthcare and life sciences
$56.2
$16.99
0.33%
Media and entertainment
$47.2
$8.24
0.57%
Retail
$41.8
$13.47
0.31%
CPG
$41.2
$17.43
0.24%
2015 survey of 795 participants at very large global companies from North America (44%), Europe (31%), Asia-Pacific (15%) and Latin America (9%)
91
SOURCE: Tata Consultancy Services/eMarketer: 2016
BUSINESS
TRAVEL
GLOBAL BUSINESS TRAVEL SPENDING AND GROWTH FORECAST

8
Total travel
spending:
$1.25 trillion
6.9%
7
6.5%
6.4%
6%
5.8%
5
2015
93
SOURCE: GBTA: 2015
2016
2017
2018
2019
TOP GLOBAL MARKETS FOR BUSINESS TRAVEL SPENDING (BTS)

2014 Total BTS
($ Billions USD)
United States
China
Japan
$61.5
Germany
$57.9
$43.5
$261.5
5.4%
16.6%
1.1%
7.7%
5.4%
UK
France
$36.0
2.0%
South Korea
$32.1
3.9%
Brazil
$32.0
3.7%
Italy
$30.9
1.3%
India
$26.4
9.7%
Canada
$22.5
3.8%
Russia
$20.9
-6.7%
Australia
$20.5
1.3%
Spain
Netherlands
94
$288.4
Annual Growth
in BTS (2014)
$18
6.8%
$17.8
-1.7%
SOURCE: GBTA: 2015
FASTEST-GROWING MARKETS FOR BUSINESS TRAVEL SPENDING, 2016-2026

annualized
Myanmar
95
9.0 %
Zambia
8.8
China
8.8
Ukraine
8.4
Tanzania
8.2
Cambodia
7.9
Gabon
7.7
Democratic Republic of Congo
7.6
Greece
7.5
Hong Kong
7.4
BUSINESS TRAVEL SHARE OF OVERSEAS ARRIVALS IN U.S. (2015)
YTD Jan
16.6%
YTD Feb
17.4%
YTD Mar
17.4%
YTD Apr
17.2%
YTD May
17.1%
YTD Jun
16.6%
Figure are for the top 20 overseas tourist-generating countries.
96
SOURCE: National Travel and Tourism Office: 2015
BUSINESS TRAVELERS TOP BOOKING DECISION INFLUENCERS

Convenient schedule
Price
Frequent flier miles and status/
Travel reward points
Brand loyalty
Seat options/availabilty
Offers/deals from the airline
27%
20%
7%
4%
3%
Free perks ( Wi-Fi, snacks, no fees)
2%
Other
2%
None of the options listed
2%
Survey of 804 US business travelers who had taken at least 4 business trips in the prior 12 months
97
SOURCE: GBTA: 2016
33%
HOW U.S. COMPANIES ALLOCATE BUSINESS TRAVEL SPENDING (2015)

% of total
Meal 19%
Airlines 17%
Miscellaneous 17%
Lodging 14%
Gas
Cell Phone
5%
Car Rental
5%
Supplies
5%
Taxi
Shipping
3%
2%
Tolls 1%
Parking 1%
98
SOURCE: Certify: 2015
11%
UBER MOST EXPENSED GROUND TRANSPORTATION IN U.S. BUSINESS TRAVEL
50%
47%
45%
44%
41%
40%
34%
Uber
Car Rental
39%
31%
30%
27%
24%
25%
22%
20%
20%
Taxi
10%
0%
Q1 2015
99
Q2 2015
Q3 2015
Q4 2015
MOST EXPENSED HOTELS AND AIRLINES (US, 2015)
Most Expensed Hotels
100
Most Expensed Airlines
Marriott
Delta
Hampton Inn
American Airlines
Courtyard by Marriott
United Airlines
Hilton Garden Inn
Southwest Airlines
Holiday Inn Express
US Airways
AIRBNB FOR BUSINESS HEATS UP (U.S.)
Airbnb
101
All Hotels
3.8 nights/avg.
2.12 night/avg.
$571.53 per expense
$222.55 per expense
MEETINGS &
EVENTS
U.S. EVENT TOTALS (2015)

Number of Events:
Total Net Square Feet (000s):
Attendance (000s):
Exhibitor Companies (000s):
11,427
3.5% (5-yr chg)
461,102
81,382
1,685
TOTALS FOR UNITED STATES

Industry Category
Events
Business Services 1,048

Consumer Goods 818
Discretionary Consumer Services
993
Education 857
Food 393
Financial, Legal, and Real Estate
607
Government, Public, and Non-Profit Services
555
Home & Repair 574
Industrial/Heavy Mach. & Finished Business Inputs
161
Communications, Info. Technology, and Science
1,053
Medical and Health Care
2,017
Natural Resources and Agriculture
831
Sporting Goods, Travel, and Amusement
982
Transportation 538
TOTAL EVENTS BY SIZE
(TOTAL NET SQUARE FEET OF EXHIBIT SPACE)
100,000+
50,000-99,999
Analysis excludes all events with less than 3,000 net square feet of exhibition space
103
SOURCE: CEIR Census report: 2015
1,144
1,635
25,000-49,999
10,000-24,999
3,000-9,999
2,964
4,631
EVENT ORIENTATION
Total 11,427
BY TYPE OF VENUE
Number
Percent
Exhibition/Convention Center 4,422 39%
Hotel (includes hotel convention centers)
6,048
53%
Conference Center/Other 957 8%
1,052
18%
82%
Business-to-Business
Business-to-Consumer
TOP 20 U.S. STATES BY NUMBER OF EVENTS (2015)

5-year % chg
California
Texas
1,316
10%
Florida
1,304
23%
Nevada
938
5%
10%
New York
546
12%
Illinois
543
-19%
Georgia
481
10%
369
32%
333
22%
Massachusetts
-13%
District of Columbia
Arizona
Maryland
319
Tennessee
296
8%
291
8%
Louisiana
269
8%
Washington
254
22%
Colorado
240
Pennsylvania
Virginia
203
198
-19%
-29%
-3%
Missouri
174
61%
Minnesota
172
19%
New Jersey
166
12%
104
1,485
TOP 20 U.S. CITIES BY NUMBER OF EVENTS (2015)

Las Vegas, NV
802
Orlando, FL
411
Atlanta, GA
New York, NY
Chicago, IL
San Diego, CA
368
355
341
Washington, DC
San Antonio, TX
Houston, TX
378
296
271
270
Dallas, TX
Lake Buena Vista, FL
246
New Orleans, LA
244
Nashville, TN
232
263
Boston, MA
207
Miami, FL
206
San Francisco, CA
206
Phoenix, AZ
183
Los Angeles, CA
180
Baltimore, MD
173
Denver, CO
164
105
CRUISES
GLOBAL CRUISE PASSENGER TRENDS

2016P
2015P
23M
2014
2013
2012
20.9M
2011
21.3M
20.5M
17.8M
2009
P = Projected
SOURCE: CLIA: 2016
22.04M
19.1M
2010
107
24M
CRUISE LINE DEPLOYMENT, BY REGION (2016)

% share of total,
Available Lower Berth Day
Caribbean
Mediterranean
Europe w/o Med
Asia
Australia/NZ/Pac
Alaska
South America
All Other
108
SOURCE: CLIA: 2016
33.7%
18.7%
11.7%
9.2%
6.1%
4.1%
2.7%
13.8%
Asia is the fastest-growing region

in terms of passenger volume,
which grew at a CAGR of 34%
between 2012 and 2014 (775,000
passengers to nearly 1.4 million)
TOP 10 COUNTRIES BY CRUISING DEMAND (2014)
U.S.
11.21M
Germany
1.77M
UK
1.61M
Australia
Italy
840,000
Canada
800,000
China
700,000
France
590,000
Spain
450,000
Norway
109
1M
SOURCE: CLIA: 2016
180,000
Total number of passengers from

the top 10 countries
19.15 million
The total from the rest of the world
2.84 million
10
M&A &
VC FUNDING
TRAVEL TECH FINANCING HISTORY
US Dollars ($M)
Deals
360
(FY Projected)
$5,381
(FY Projected)
348
(YTD, 12/21/2015)
245
190
208
89
$2,316
59
$710
$718
$789
2011
2012
2013
$137
2010
111
2014
2015 YTD
$5,204
DOLLAR AND DEAL SHARE IN TRAVEL TECH BY GEOGRAPHY

2010-2015 YTD (12/24/15)
Dollar share
Deal share
38%
US
39%
32%
China
8%
6%
India
11%
25%
Rest of the world

42%
112
MOST WELL-FUNDED TRAVEL TECH COMPANIES

2010-2015 YTD (12/24/15)
Airbnb
LY.com
$1.2B
TuJia Online Information Technology
Decolar
$291M
Momondo Group
$149M
HotelUrbano
$130M
Oyo Rooms
$126M
Zhubaijia
$109M
Mafengwo
$105M
GetYourGuide
113
$464M
$96M
$2.3B
BIGGEST VC-BACKED TRAVEL TECH EXITS, BY VALUATION (2011-2015)
Date of Exit
114
HomeAway 6/6/2011
$2.155M
Qunar 6/27/2011
$1.200M
Trivago 3/13/2013
$1.026M
Kayak Software
7/20/2012
$1.016M
Viator
8/11/2014
$200M
TRAVEL SECTORS ATTRACTING MOST FUNDING IN 2015
Sector
Total Amount Raised
Travel Booking
$651.75 million
52
Ground Transportation*
$444.7 million
16
B2B
$192.5 million
16
Tours and Activities
$120.5 million
12
Trip Planning and Inspiration
$61.4 million
23
*Doesnt include funding from larger companies such as Uber, Lyft, GrabTaxi, or Didi Kuaidi.
115
Number of rounds
SOURCE: Skift: 2016
10 MAJOR TRAVEL MERGERS AND ACQUISITIONS IN 2015
116
Company Company
Sector
Sector
Acquiring
Company
Acquiring
Company
Nokias HERE
Mapping
Audi, BWW, Daimler
Orbitz
Online booking
Expedia
Navitaire
Airline digital services
Amadeus
Abacus
Distribution
Sabre
$830 million

$411 million
Brazil Hospitality Group
Lodging
GTIS Partners
$400 million
Travelocity
Online booking
Expedia
$280 million
Perisher
Ski resort
Vail Resorts
$135 million
Delta Hotels
Lodging
Marriott
$135 million
Eat24
Online food ordering
Yelp
$134 million
Mobile Travel Technologies
Mobile software
Travelport
$61 million
SOURCE: Skift: 2015
Acquisition Amount
$3.1 billion

$1.6 billion
10 LARGEST FUNDING ROUNDS OF 2015

Company
117
Amount
Round Type
Sector
Didi Kuaidi
$2.6 billion
Series M and Private Equity
Ground Transport
Alibaba, Capital International

Private Equity Fund, China
Investment Corporation, Coatue
Management, Ping An, SoftBank,
Temasek Holdings, Tencent Holdings,
Tiger Globa Management
Uber
$2.1 billion
Series E and F, Private Equity
Ground Transport
Accelerate IT Ventures, Bennett

Coleman and Co. Ltd., Foundation
Capital, Microsoft, Tata Capital, Tata
Opportunities Fund, Times Internet
Airbnb
$1.5 billion
Private Equity
Lodging
General Atlantic, Hillhouse Capital

Group, Tiger Global Management,
Baillie Gifford, China Broadband
Capital, Fidelity Investments, GGV
Capital, Horizon Ventures, Kleiner
Perkins Caufield & Byers, Sequoia
Capital, T. Rowe Price, Temasek
Holdings, Wellington Capital
Lyft
$680 million
Series E
Ground Transport
Rakuten, Icahn Enterprises, Altpoint

Ventures, Aslanoba Capital, Fontinalis
Partners, Kortschak Investments,
SierraMaya360
Ola
$400 million
Series D
Ground Transport
DST Global, ABG Capital,

Accel Partners, Falcon Edge Capital,
GIC, Mauritius Investments,
SoftBank, Steadview Capital,
Tiger Global Management
Grabtaxi
$350 million
Series E
Ground Transport
China Investment Corporation,

Coatue Management, SoftBank,
Tiger Global Management
Tujia
$300 million
Series D
Lodging
All-Starts Investment, Ctrip,

The Ascott China
SOURCE: Skift: 2015
Investors
11
MOBILE
MOBILE SHARE OF WORLDWIDE TRAVEL BOOKINGS
Q2 2015
23%
Q1 2015
20%
Q4 2014
19%
Q3 2014
16%
Q2 2014
12%
Q1 2014
9%
Worldwide, all travel sub-categories, OTAs, and suppliers, excluding apps
119
SOURCE: Criteo: 2015
MOBILE SHARE OF BOOKINGS BY SUB-CATEGORY

H1 2015
H1 2014
Apartment
Hotel
Car
Package
Air
Rail
31%
30%
28%

25%

18%
19%
14%
17%
14%
15%
14%
Worldwide, OTAs, and suppliers, excluding apps
120
22%
MOBILE SHARE OF BOOKINGS BY COUNTRY

% of total
Tablet
6%
24%
30%
10%
20%
30%
Sweden
14%
14%
28%
Canada
11%
15%
26%
17%
25%
Japan
Smartphone
United States
Denmark
Turkey
8%
4%

21%
Australia
13%
12%
25%
Spain
11%
12%
23%
South Korea
United Kingdom
Netherlands
Italy
France
9%
6%
2%
23%
13%
22%
16%
22%
11%
10%
21%
10% 11%
21%
6%
9%
15%
Austria
6%
9%
15%
Belgium
5%
9%
14%
8%
5%
13%
Americas
9%
18%
27%
APAC
8%
19%
27%
EMEA
10%
21%
June 2015, worldwide, all travel sub-categories, OTAs, and suppliers, excluding apps.
21%
Germany
Brazil
121
25%
11%
DIGITAL TRAVEL SALES IN CHINA BY DEVICE

Desktop/laptop
2017*
Mobile
2016*
2015*
2014
23.5%
76.5%
24.9%
75.1%

2011
63.7%
55.4%

44.6%
88.9%
2013
2012
36.3%
11.1%
97.2%
2.8%
98.9%
1.1%
*The 2016 and 2017 numbers for digital travel sales in China are forecasts and 2015 figures are an estimate.
122
SOURCE: eMarketer/ Analysys International Enfodesk: 2015 China Mobile Travel Transportation Booking Market report
U.S. MOBILE TRAVEL BOOKERS FORECAST

69.8M
64.8M
59.2M
51.8M
43.8M
69.8%
64.8%
59.2%
38.3M
51.8%
43.8%
35.9%
2014
2015
Moblie travel bookers
2016
2017
2018
2019
% of digital travel bookers
Ages 18+; Mobile Device users who have booked travel via mobile device at least once during the calendar year.
123
U.S. MOBILE TRAVEL BOOKERS, BY DEVICE

Smartphone travel bookers
Tablet travel bookers
68.4M
2019

51.1M
62.1M
2018

46.4M
55.6M
2017
2016

2015
41.6M
47.0M
36.6M

38.1M
31.3M
2014
30.5M
25.1M
Ages 18+; Mobile Device users who have booked travel via mobile device at least once during the calendar year.
124
SMARTPHONE SHARE OF GLOBAL TRAVEL SITE VISITS (2015)

Smartphone
36.6%
Media & Entertainment
54.6%
29.5%
Automotive
57.4%
26.1%
Travel & Hospitality
61.1%
25.7%
Retail
63.3%
16.8%
Telecommunication
76.8%
14.5%
Financial Services
80.1%
11.7%
Technology
125
SOURCE:Adobe Digital Index/CMO.com: 2016
84.0%
Desktop
TOP TRAVEL SITES BY US MOBILE WEB VISITS (2015)

Moblie Web Visits
Share of Traffic from Moblie
58.0%
55.2%
53.7%
51.4%
629.1M
50.2%
49.7%
48.1%
47.4%
47.6%
337.8M
275.5M
233.2M
vis
m
.co
r
o
d
ipa
tr
126
m
co
.
t
s
m
co
ia.
ed
p
ex
SOURCE: SimilarWeb: 2015
e
hw
t
ou
o
bo
m
.co
g
in
43.0%
206.3M
l
ice
r
p
m
.co
e
in
171.2M
arr
io
m
co
tt.
166.3M
om
c
.
s
el
ot
163.3M
m
.co
k
ya
ka
158.2M
de
co
ta.
144.8M
m
.co
a
a
TOP FREE TRAVEL APPS (US)

Apps on iOS
127
Google Play
Uber
Waze
Yelp
Yelp
Lyft
Google Earth
Google Earth
TripAdvisor
TripAdvisor
trivago
Airbnb
Expedia
United Airlines
Airbnb
Fly Delta
booking.com
Expedia
Southwest Airlines
10
Southwest Airlines
Grubhub
11
American Airlines
GasBuddy
12
Hopper
United Airlines
13
booking.com
Fly Delta
14
My Disney Experience
Hopper
SOURCE: AppAnnie: as of 3/3/2016
GLOBAL MOBILE TRAVEL APP SESSION GROWTH (2015)
Personalization
News & Magazines
Utilities & Productivity
Travel & Navigation
54%
Sports
53%
Messaging & Social
Music, Media & Entertainment
Games
SOURCE: Flurry from Yahoo: 2015
135%
125%
Lifestyle & Shopping
Health & Fitness
128
332%
81%
52%
51%
21%
-1%
MAJOR INVESTMENTS IN MOBILE

% of airlines and airports investing in mobile over the next 3 years
Airlines
Major Program
Airports
76%
49%
16%
R&D
41%
8%
No Plans
10%
129
SOURCE: SITA: The Future is Connected 2016
MOBILE APP DEPLOYMENTS PLANNED BY AIRPORTS AND AIRLINES

% OF AIRLINES PROVIDING
PASSENGER SERVICES VIA APPS
Baggage location
status updates
Location-based
notifications
Passenger surveys
and focus groups
10%
33%
67%
70%
Purchase of
airport services
10%
65%
Customer relationship
management
2%
Missing baggage
communication
Real-time baggage status

information for passengers
% OF AIRPORTS PROVIDING
PASSENGER SERVICES VIA APPS
64%
Notifications
about airport status
27%
68%
30%
79%
25%
83%
7%
63%
Navigation/Wayfinding
within the airport
30%
91%
Airlines today
(2015)
130
Airlines implemented
by 2018
SOURCE: SITA: The Future is Connected 2016
Airport today
(2015)
Airport implemented
by 2018
WHAT PASSENGERS WANT FROM MOBILE

PASSENGER DEMAND FOR
NEW SERVICES ON BOARD
Access entertainment
on own tablet
PASSENGER DEMAND FOR

NEW SERVICES AT AIRPORT
67%
24%
Send emails,
text messages
60%
31%
Access live
flight information
60%
32%
Access entertainment
on airline tablet
56%
56%
Access live
streaming of content
56%
56%
Flight updates
72%
Bag collection updates
63%
33%
60%
31%
Use mobile for ID
59%
33%
Airport maps & directions
57%
35%
Scan phone for access
Yes, would
definitely use
23%
May use
Results based on an online survey of 5,871 respondents from 17 countries across Americas, Asia, Europe and the Middle East and Africa who had traveled
between December 2014 and March 2015.
131
SOURCE: SITA: The Passenger IT Trends Survey 2015
12
ATTRACTIONS
ATTENDANCE TRENDS FOR TOP ATTRACTIONS
millions
250
Amusement/theme
park attendance
(top 25)
200
150
Museum attendance
(top 20)
100
50
Museum attendance
(top 20)
0
2010
133
2011
SOURCE: Themed Entertainment Association (TEA)/AECOM: 2015
2012
2013
2014
TOP 10 AMUSEMENT/THEME PARKS WORLDWIDE (2014)

% change
MAGIC KINGDOM at Walt Disney World,

TOKYO DISNEYLAND, Tokyo, Japan

DISNEYLAND, Anaheim, CA
TOKYO DISNEY SEA, Tokyo, Japan
UNIVERSAL STUDIOS JAPAN, Osaka, Japan
EPCOT at Walt Disney World,
DISNEYS ANIMAL KINGDOM at Walt Disney World,

17,300,000

16,769,000

14,100,000

11,800,000
11,454,000

16.8%
2.0%
10,402,000
2.0%
World, Lake Buena Vista, FL
10,312,000
2.0%
DISNEYLAND PARK AT DISNEYLAND PARIS,
DISNEYS HOLLYWOOD STUDIOS at Walt Disney
Marne-La-Vallee, France
DISNEYS CALIFORNIA ADVENTURE, Anaheim, CA
134
19,332,000
4.0%
9,940,000
8,769,000
-4.7%
3.0%
0.1%
0.5%
3.5%
TOP 10 MUSEUMS WORLDWIDE (2014)
% change
LOUVRE, Paris France

NATIONAL MUSEUM OF CHINA,
Beijing, China
NATIONAL MUSEUM OF NATURAL HISTORY
Washington, D.C.
7,630,000
2.4%

7,300,000

-8.8%
NATIONAL AIR AND SPACE MUSEUM,
6,700,000
-3.9%
BRITISH MUSEUM, London, U.K.
6,695,000
NATIONAL GALLERY, London, U.K.
Washington, D.C.
THE METROPOLITAN MUSEUM OF ART,

New York, NY
VATICAN MUSEUM, Vatican City

TATE MUSEUM, London, U.K.
NATIONAL PALACE MUSEUM,
Taipei, Taiwan
135
9,300,000

6,417,000

-0.1%
6.4%
6,280,000 0.0%
6,177,000
13.2%
5,785,000 18.4%
5,402,000
22.4%
-4.0%
TOP 10 WATER PARKS WORLDWIDE (2014)
% change
CHIMELONG WATERPARK, Guangzhou, China
2,259,000

TYPHOON LAGOON AT DISNEY WORLD, Orlando, FL
2,185,000

BLIZZARD BEACH AT DISNEY WORLD, Orlando, FL
2,007,000

THERMAS DOS LARANJAIS, Olimpia, Brazil
1,939,000

OCEAN WORLD, Gangwon-Do, South Korea
1,604,000

AQUATICA, Orlando, FL
1,569,000
1.0%
CARIBBEAN BAY, Gangwon-Do, South Korea

AQUAVENTURE WATERPARK, Dubai, U.A.E.
136
1,493,000
1,400,000
16.7%
HOT PARK RIO QUENTE, Caldas Novas, Brazil
1,288,000
0.3%
WET'N'WILD, Orlando, FL
1,284,000
2.0%
2.0%
2.0%
17.5%
-5.7%
-8.0%
4.0%
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Carolyn Kremins
President, Skift
skiftx@skift.com
+1- 212-564-5830
137

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STATE OF TRAVEL

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TRAVEL & GDP IMPACT

Direct contribution to GDP

Total contribution to GDP

Direct contribution to employment****

Total contribution to employment****

*2015 constant prices & exchange rates;

SOURCE: World Travel & Tourism Council: 2016

GLOBAL GDP IMPACT, BY INDUSTRY

$USD billion (2014 prices)

SOURCE: World Travel & Tourism Council: 2015

TRAVEL AND TOURISM GDP GROWTH BY REGION (2016-2026)

North East Asia

Sub Saharan Africa

SOURCE: World Travel & Tourism Council: 2016

WORLD GDP GROWTH VS. GROWTH OF VISITOR ARRIVALS AND SPENDING

World Real GDP

SOURCE: MasterCard: 2015

GROWTH IN GLOBAL DEMAND FOR AIR TRAVEL

INTERNATIONAL TOURIST ARRIVALS (2015)

191 million arrivals

SOURCE: World Tourism Organization: 2016

1,184 million arrivals

TOP TOURISM SPENDERS IN THE WORLD (2014)

165 USD$ billion +28%

SOURCE: World Tourism Organization: 2015

112 USD$ billion

TOP EMERGING GLOBAL AND U.S. DESTINATIONS IN 2016

Orange Beach, Alabama

Gatlinburg, United States

South Lake Tahoe, California

Brighton, United Kingdom

Estes Park, Colorado

New Delhi, India

Foz do Iguacu, Brazil

SOURCE: TripAdvisor: 2015

U.S. INTERNATIONAL AIR TRAFFIC HITS ANOTHER NEW RECORD

SOURCE: Office of Travel Tourism Industries: 2016

A RECORD NUMBER OF AMERICANS TRAVELED ABROAD IN 2015

Europe 12,598,860 5.9% 17.2%

4,842,660 7.4% 6.6%

Central America 2,790,865 3.5% 3.8%

2,045,251 14.9% 2.8%

South America 1,869,463 5.5% 2.5%

350,572 -2.1% 0.5%

Total Overseas 32,789,353 6.5% 44.6%

Canada (Total) 12,468,380 8.3% 17.0%

Total North America 40,663,761 8.7% 55.4%

SOURCE: National Travel & Tourism Office/Skift: 2016

U.S. TRAVEL SPENDING & VISITORS

SOURCE: Office of Travel Tourism Industries: 2016

INTERNATIONAL VISITOR SPEND IN THE U.S. DIPPED IN 2015

International Traveler Receipts in U.S.

Total Travel and Tourism-Related Exports

Travel Receipts (for all purposes including education)

Passenger Fare Receipts*