PhoCusWright, and one of the factors that will help it recover from the financial crisis and ensuing recession.

PhoCusWright studies the ways travelers, suppliers and intermediaries connect for clients including major hotel chains, airlines, car rental firms and investors. It just released the 2009 edition of its annual Technology Trend Predictions, which identifies the trends likely to "reshape the way consumers search shop and buy travel."

Although the recession has dampened demand and deflated asset values, industry experts participating in the second annual Cornell Real Estate and Finance Roundtable last November noted that opportunities still exist for both investors and operators. Participants at the event, conducted under the aegis of the Cornell Center for Hospitality Research, concurred the industry is in a better position to weather the economy now than it was in past downturns because it is "not awash in excess supply additions."

According to the report from PhoCusWright, the industry will also benefit from technology. The report concludes:

1. Despite market woes, pockets of investment still exist. During economic downturns, innovation is the single most important condition for transforming the crisis into an opportunity, it notes;
2. The entire trip experience will be "informationized." Travelers have greater access to information from mobile devices and easier to use [with] more accessible technologies;
3. Software as a service (SaaS), cloud computing and open source is creating more innovation. Open Source has matured to the point that many companies are fully dependent on it. It has become an enabler for startups, allowing them to rapidly accelerate their time to market;
4. Suppliers provide personalized shopping/booking tools. To provide convenience and value to the customer, future learning and shopping screens will adapt to the users' stated profiles, observed profiles and shopping style;
5. Technologies will continue to converge. Ten years ago, television networks were distinct from the Internet. Video was limited to T.V. and you went to see a movie at the theater. Now you can make a phone call anywhere to anywhere in the world using your laptop, and watch movies and T.V., as well as browse rich content on [a] mobile device;
6. New mobile travel and location-based applications will grow. The mobile platform finally has interactive capability that makes it the fully functioning "3rd screen" alongside the desktop and laptop. With the growth of 3G (broadband wireless) subscriptions and smartphone adoption, apps will embrace location and context in a new way, enhancing the travel experience.
7. Advertising will take advantage of new technology. New and blended models involving highly targeted ads, referral fees and fees for service will establish peaceful coexistence;
8. Search will continue to improve. Semantic Technology and the Semantic Web will drive the next wave of Internet technology, making [searches] more effective;
9. Democratization of supply levels the playing field. The implementation of standards for interconnection, the transparency of the Internet, Web services and mash-ups, new search tools and SaaS models have all contributed to the development of an open marketplace for travel distribution;
10. Business intelligence and analytics move to the forefront. In tight times, travel and hospitality businesses need to squeeze as much as possible from your existing operations and capabilities. Technology makes it easier to understand what your competitors are doing, how efficient and effective your own operations are and what your customers are saying.