A hoisting member for an elevator system includes a core having strength components embedded in a matrix material. A coating can surround the core to protect the core and control the coefficient of friction of the outer surface based on a range of desired friction properties to prevent or inhibit slippage of the hoisting member when used in a traction elevator system. The strength components may be made from carbon nanotube material with the matrix material made from a polymer material. The hoisting member may also include other conductive material or fiber optic material. The hoisting member may also serve as the trailing cable in an elevator system. In doing so the hosting member transmits power and data between the elevator car and the elevator controller thereby eliminating the need for a traditional trailing cable.