Twitter is the most popular social media tool for travel companies followed by Facebook according to research from Qube Media.
The study, carried out in conjunction with Travolution, showed the majority of respondents already use Twitter or plan to with Facebook coming a close second.
YouTube and blogs also emerged as favourites with many travel companies already using them.
The research also shows most companies are taking social media seriously with 95% of respondents saying the growth of online communities was important or very important for their businesses.
In addition, more than 80% felt the increasing popularity of social networking would impact their future strategies a lot or quite a lot.
Respondents were also asked to provide their reasons for pursuing social media marketing with 83% saying because their customers are increasingly using social networks and 67% saying it is good for brand awareness.
Only 37% said they would pursue because it provided a good return on investment.
Lack of control, the unproven nature of social media and not knowing the direct impact on sales were the reasons most companies said they would not engage in social media marketing.
The biggest concerns about engaging in social media according to respondents were how to present themselves in a social network and how to engage with communities.
Qube Media is holding a social media roundtable in London on February 17.