April 29 (Reuters) - Real estate information provider CoStar Group ( CSGP ) raised its

annual revenue forecast on Tuesday, benefiting from rising consumer traffic on its websites that

provide subscription-based services.

Real estate agents and customers rely on providers like CoStar Group ( CSGP ), which offers a

database of commercial real estate, with information on properties, leasing, sales, tenants and

demand statistics, among other data.

The Arlington, Virginia-based company's namesake commercial real estate business, CoStar ( CSGP ),

posted annualized net new bookings that were up 68% from a year ago in the first quarter.

LoopNet reported a 200% increase in annualized net new bookings for the quarter ended March

31.

The company now expects annual revenue in the range of $3.12 billion to $3.16 billion,

compared to its prior projection of between $2.99 billion and $3.02 billion.

Earlier in April, CoStar ( CSGP ) revamped its board and planned to review its capital allocation to

boost profitability and shares, as part of an agreement with hedge funds D.E. Shaw and Third

Point.

In late March, CoStar ( CSGP ) raised its bid for Australia's second-largest real estate classifieds

company, Domain Holdings, with the revised deal valued at A$2.80 billion ($1.80

billion).

The Homes.com owner sees second-quarter revenue in the range of $770 million to $775

million, while analysts expect $786.9 million.

For the first quarter, the company reported revenue of $732.2 million, which was slightly

ahead of estimates of $730 million.

($1 = 1.5584 Australian dollars)