Global Hotel Revenue Management Software Market Overview:
Hotel Revenue management software is defined as automates process of using analytics generally supply and demand to work out the proper price for hotel rooms to maximise revenue and profitability. Revenue management software is additionally mentioned as a "yield management system", "pricing engine" or an "RMS". The main use of revenue management in hotel is that it helps to draw in the proper guests, gain incremental revenue, and reduce costs.
As per latest study released by AMA Research, the Global Hotel Revenue Management Software market is expected to see growth rate of 8.7%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:
Developing new varieties of hotel revenue software
Market Growth Drivers:
Growing demand for changing or updating the price of hotel rooms in real-time
Challenges:
Lack of skilled staff
Restraints:
Required Maintenance Cost
Opportunities:
Increasing Availability of hotels
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Huawei (China), Amdocs (United States), Oracle (United States), Netcracker (Japan), CSG (United States), Ericsson (Sweden), Cerillion (United Kingdom), Mahindra Comviva (India), Optiva (Ireland), SAP (Germany), Accenture (Ireland) and Enghousenetworks (Canada). Additionally, following companies can also be profiled that are part of our coverage like Fiserv (United States), Apttus (United States) and Infor (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Hotel Revenue Management Software market by 2030. Considering Market by Deployment Type, the sub-segment i.e. On-premise will boost the Hotel Revenue Management Software market. Considering Market by End-users, the sub-segment i.e. Luxury & High-End Hotels will boost the Hotel Revenue Management Software market.
Latest Market Insights:
In December 2022, LodgIQ has introduced the Revenue Co-Pilot initiative, combining its flagship product, LodgIQ RM, with expert client care advisors to empower hotel revenue teams to make quicker, more profitable decisions.
In India 2021, eZee Technosys launches Modern Revenue Management System named as eZee Mint for hotel. With this new offering, the company aims to complement the existing products and offer effective and timely up-gradable tech solutions that help the hospitality industry to achieve greater profit margins. eZee is looking forward to YoY growth of 47% in license sales for the software.
What Can be Explored with the Hotel Revenue Management Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hotel Revenue Management Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hotel Revenue 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 Revenue 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 Revenue 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 Manufactures, Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
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.