More than eight in 10 UK consumers researched online before booking a hotel and 62 percent did the same with restaurants.

Seventy-seven percent of UK hotels and 80 percent of restaurants said the growth in consumer-generated content is a business opportunity.

Kathryn Pretzel Shiels of American Express said, "The industry is clearly taking steps to better understand this channel. In fact, 67% of UK hotels and 77% of UK restaurants say they actively monitor content posted on independent review sites."

The study also asked hotel and restaurant operators about online marketing and found that 57 percent of hotels and half of restaurants used affiliate marketing. Seven out of 10 hotels used direct e-mail and just 17 percent of restaurants did.