About Hospitality Property Management Software
Hospitality Property Management Software is used to connect properties such as hotels, resorts, spas, and other hospitality providers to connect with hundreds of online sales channels in real-time. These software enables the property owners to maintain their all-in-one hotel management system and access the data via. desktop or smartphone. In addition, these software also integrates easily with third parties and credit card processing. The increasing expansion of branded hotels and traveling activities globally has increased the need for the management of hospitality property. Furthermore, the focus on enhancing the customer experience has boosted demand for hospitality property management software.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 10.77% |
The companies are exploring the market by adopting mergers & acquisitions, 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. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Hospitality Property Management Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle Corporation (United States), Agilsys, Inc. (United States), Infor Inc. (United States), Cenium AS (Norway), Realpage, Inc. (United States), FCS Computer Systems, Hoteliga International (Singapore), Atulyam Hotelline Solutions Pvt. Ltd. (India), Digital Arbitrage Inc. (United States) and Frontdesk Anywhere Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ezee Technosys Pvt. LTD. (India), MSI Solutions (United States), Northwind Canada Inc. (Canada) and Resort Data Processing Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hospitality Property Management Software market by Type (Integrated Security System, Hotel Building Automation System, Guest Service Management System, Hotel Operation Management System and Integrated Communication Technology Solutions), Application (SMEs and Large Enterprise) and Region.
On the basis of geography, the market of Hospitality Property Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Software Subscription, the sub-segment i.e. Monthly will boost the Hospitality Property Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Property Type, the sub-segment i.e. Business Hotels will boost the Hospitality Property Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On-Premise will boost the Hospitality Property Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing, the sub-segment i.e. Premium will boost the Hospitality Property Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Software-as-a-Service (SaaS) Technology
Market Growth Drivers:
Increasing Importance for Enhancing Consumer Experiences and Demand for Control and Automation of Property-Related Documents
Challenges:
Lack of IT Skills in Hospitality Industry and Integration with Existing Solutions
Restraints:
Security and Privacy Concerns
Opportunities:
Increasing Integration of Augmented Reality in Hospitality Property Management Software and Emergence in the Number of Small & Medium-Sized Hotels
Market Leaders and their expansionary development strategies
In January 2023, Cloudbeds, a global leader in hospitality management software, today announced its strategic partnership with Lighthouse (formerly OTA Insight), a leading commercial platform for the travel & hospitality industry. This partnership represents a significant milestone for both companies and is poised to bring unparalleled value to Cloudbeds’ and Lighthouse’s customers.
In March 2024, Cristal Group has announced the launch of the Cristal Collection, a property management arm which will give independent hotels and resorts the opportunity to become part of a powerful collective, founded on years of industry expertise which is Aimed at independent hotel owners, the Cristal Collection will offer its strategic partners more sales channels, a reduction in their operating costs, unparalleled hospitality experience and competitive franchise fees.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Hospitality Property Management Software Providers, Cloud Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.