With the current economic climate most travel companies are facing declining demand and uncertainty for the future. The latest forecasts in PhoCusWright’s U.S. Online Travel Overview reflect these lower expectations for travel companies’ performance. Travel companies must prepare for a downward trend as fewer people taking trips and companies being more selective towards travel expenses.

PhoCusWright projects the overall U.S. travel market is expected to increase by 4% and 2% in 2008 and 2009, respectively. These are the slowest growth rates since 2003, when the market declined by 8% following the effects of the terrorist attacks in 2001. All segments are expected to be impacted. Also, it is foreseen that in 2010 the market is expected to be recovered again.

Expedia and Marriott International today released a press statement announcing a new multi-year agreement that extends one of the longest running partnerships in the online travel industry.

Without being aware of any details, this arrangement provides Marriott properties access to Expedia’s extensive targeted promotional and merchandising opportunities to reach travelers throughout Europe, Asia and North America. Marriott’s properties also benefit from direct access to Expedia’s global travel marketplace through ExpediaConnect, the technology solution for chain hotels to connect directly into Expedia’s global marketplace.

Lifehacker.com is one of our favorite websites providing us with suggestions and ideas in order to get things done. Over the last week, lifehacker.com has asked its readers for suggestions and opinions on what the best travel websites are where affordable tickets and hotels can be found.

After their initial request for suggestions, lifehacker.com has created a shortlist containing 5 popular and well known travel websites after which users could vote for their favorite website. The following websites were included in the shortlist;

While consumers and companies within the online travel and hospitality industry are already adopting to new technologies, it is expected that both the supplier and consumer side will continue to evolve during the coming years. Due to an increase in information overload from a consumer’s perspective and the future development of technology, presentation of information within the travel and hospitality industry will be more simplified and transparent; more developed at the supplier’s side and more accessible for consumers.

Jitendra Jain, who is employed with Starwood Hotels & Resorts in Dubai as an E-Commerce Manager involved with online marketing & distribution, has published an article forecasting future developments that will revolutionize online hotel marketing. The following article is elaborating on Jain’s forecasts and supporting his statements.

The international travel website trivago.com has launched a new service for hoteliers where hoteliers can provide updated information about their establishments. Hoteliers can now respond to guest reviews, publish new offers and news on their dedicated hotel blog and manage their data and property information. Furthermore, trivago enables users to link to hotels’ homepages so guests can directly contact the hotel for additional information and make hotel reservations.