April 29 (Reuters) - Real estate information provider CoStar Group CSGP.O 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, 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, 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 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 raised its bid for Australia's second-largest real estate classifieds company, Domain Holdings DHG.AX, 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)

(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)

((Juby.Babu@thomsonreuters.com))