Global Hotel and Hospitality Management Software Market Overview:
Hotel and hospitality management software is an ultimate management solution to maintain hospitality and customer relationship management by a hotel, motels, resorts, and bed & breakfasts, as well as condos, RV parks and other forms of lodging. It also performs essential financial and organizational functions that include reservations, employee scheduling, accounting, property/maintenance management and customer relationship management for business hotels, heritage and boutique hotels, resorts and spas, and others.
As per latest study released by AMA Research, the Global Hotel and Hospitality Management Software market is expected to see growth rate of 5.2%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Recognition Technology is one of the Most Important Emerging Tech Trends in the Hospitality Industry
Market Growth Drivers:
The rapid increase in the traveler numbers has led to significant growth of the hospitality industry across the globe is the fuelling the demand of the global hotel and hospitality management software market. Consumers are demanding more from hospitality providers, as they look for relevant, personalized experiences that fit their specific needs.
Challenges:
Lack of Skilled Working Professionals
Restraints:
High Cost Associated with Software
Opportunities:
Rising Technological Development like AI and Data Analytics in the Hospitality Industry
Competitive Landscape:
The hotel and hospitality management software market is fragmented as the market has a number of companies that offer management software and there are lots of new companies entering the hotel management software market due to relative ease of developing software. The companies are exploring the market by expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Oracle (United States), Amadeus IT Group SA (Spain), Cisco Systems, Inc. (United States), Salesforce (United States), Sabre Corporation (United States), Cloudbeds (United States), innRoad (United States), World Web Technologies Inc. (Canada), RoomKeyPMS (Canada) and RMS (Australia). The Players having a strong hold in the market are Oracle, Amadeus IT Group SA, Cisco Systems, Inc., and Salesforce. Additionally, following companies can also be profiled that are part of our coverage like Impactiv, Inc.. (United States) and Amadeus Hospitality (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Hotel and Hospitality Management Software market by 2030. Considering Market by Organization Size, the sub-segment i.e. Small & Medium Size Enterprises will boost the Hotel and Hospitality Management Software market. Considering Market by Platform, the sub-segment i.e. Mac will boost the Hotel and Hospitality Management Software market. Considering Market by Deployment, the sub-segment i.e. Cloud will boost the Hotel and Hospitality Management Software market. Considering Market by Pricing Type, the sub-segment i.e. Monthly Subscription will boost the Hotel and Hospitality Management Software market.
Latest Market Insights:
In July 2023, HotelPort launched custom hospitality software development & platform integration services. This launch will help HotelPort to maintain its position in the competitive market.
On 21st January 2020, WebRezPro cloud property management system (PMS) by World Web Technologies Inc. now offers integration with Hotelitix revenue management software, streamlining revenue management for hotels, inns, and vacation rentals, and helping lodging operators drive more bookings and profits.
What Can be Explored with the Hotel and Hospitality Management Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hotel and Hospitality Management Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hotel and Hospitality Management Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hotel and Hospitality Management Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Hotel and Hospitality Management Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Hotel and Hospitality Management Software Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.