The more I think about .TRAVEL, the more I think it would make a very interesting business case study...probably for what not to do at launch. This is a domain that really could have benefited by the domainer community. Had they allowed entrepreneurial registrants to come in and build aggregation/portal businesses on various .travel names, they could have built out the TLD quickly. There's a fair amount of money to be made on travel-related affiliate marketing, and the PPC value of travel is reasonably high also. Domainers would have had a powerful incentive to build travel-related businesses around generic .travel names. Certified, authenticated travel businesses were never going to be the first-movers in this TLD (a fact clear only in hindsight, perhaps), yet the typical first-movers with the knowledge and capital to build it out were excluded from participation.

If I were Tralliance, I'd call the last few years the longest sunrise period for a new TLD launch in history, and I'd petition ICANN to allow me to open up TRAVEL to anyone who wants to operate a travel Internet-based service.