TAILIEUCHUNG - Nothing But Net 2009 Internet Investment Guide 6

Nothing But Net 2009 Internet Investment Guide 6. Leading . Morgan Internet industry analyst Imran Khan provides a comprehensive look at key Internet industry characteristics, drivers, and trends in his seminal industry outlook, Nothing But Net. Geared toward Internet investing novices and experienced professionals, this book provides a detailed look at data points and trends that should be considered when investing in the Internet space. With almost 8 years of technology banking and investing experience, Khan provides a detailed analysis of multiple Internet sectors including online advertising, e-commerce, online travel, and social networking. This book is a must have for. | Morgan Imran Khan 1-212 622-6693 Global Equity Research 05 January 2009 Table 29 Internet Usage in Eastern Europe by Country 2007 units as indicated Country Population M Broadband Penetration Rate Households with Internet Access of individuals 16-74 who shopped on the internet Bulgaria Czech Republic Hungary Lithuania Poland Romania Slovakia Source EuroStats and . Morgan estimates OTAs with High International Hotel Exposure Are Likely to Outperform Online hotel sales have been growing at a considerable pace. According to PhoCusWright data total 2007 online sales increased over 30 in local currency aided by higher average daily rates and increased leisure and corporate demand. Hotel growth considerably outpaced website gross bookings growth of traditional airlines which increased only 16 in 2007. Additionally we think hotel products will continue to have higher revenue margins for OTAs and less of a supplier competition threat given the highly fragmented market. PhoCusWright data shows that hotels account for only 12 of supplier website bookings vs. traditional airlines and LCCs which each have a 34 share of supplier website bookings. We think both revenue and profitability will grow as OTAs increase their hotel inventories. Figure 25 European Supplier Website Booking Shares 2007 Leisure Unmanaged Business Percent Car rental Rail Hotel LCC Traditional airlines Source PhoCusWright data We Think the European OTA Market Will See Further Consolidation In the first half of 2008 Hotel Reservation Services HRS of Germany acquired the Austrian company Tiscover and Expedia announced an agreement to purchase the Italian company Venere. Since almost half of the European OTA marketplace is still composed of small independent players we think further acquisitions in the space are likely. 51 Morgan Imran .

• Internet Marketing
• Imran Khan
• Ngành công nghiệp internet
• quảng cáo trực tuyến
• thương mại điện tử
• online advertising
• e commerce
• online travel
• social networking