Phocuswright’s U.S. Online Travel Overview Report states the market grew 5% to a total of $341 billion, and it predicts U.S. travel revenue will reach $381 billion by 2017. The market is heavily dominated by airlines and hotels/lodging, which account for 83% of the total. The remaining portions are car rental (5%), cruise (5%), packaged travel (4%), rail (1%) and other (2%), which includes travel insurance. Phocuswright’s study found a distribution channel shift. While online channels are growing faster than offline channels, the margin is closing in - and by 2017, the study says the total travel market and online bookings will both grow 6%. OTA growth continues. According to the study, OTAs will account for 17% of total U.S. travel bookings in 2017, up from 16% in 2014. Other booking channels - supplier websites, travel agents and central reservations/walk-ins - are even at 28% of the market apiece, and Phocuswright said that trend will largely continue through 2017, with central reservations yielding a percentage point to OTAs. Traditional travel agencies had been declining for several years, so the flattening of that channel is good news for agents. Get the full story at Travel Weekly