Travel really isn’t an industry so much as an umbrella term housing a range of industries. This includes everything from big global airlines and hotel brands to online travel agencies, mom-and-pop tour operators, and the growing ranks of sharing economy participants listing homes on Airbnb and HomeAway, or offering local experiences through services like Vayable and EatWith. We sought to identify areas within travel that are generating the most significant interest from investors and entrepreneurs. So we undertook the painstaking task of manually reviewing and tagging each startup in two ways: Vertical segment: the travel segment in which the startup operates (e.g., air, lodging, cruise, etc.). Horizontal focus: the technology, medium or business area on which the company’s activity is centered (e.g., search, booking, advertising, peer-to-peer, etc.). Not surprisingly, lodging rules. Lodging is the largest global travel industry segment (if you include all forms of lodging), and its relatively large margins drive the majority of industry profits for online agencies and other intermediaries. The 243 lodging-focused travel startups established between 2005 and 2013 collectively raised nearly $1.2 billion. Get the full story at WIT