Hotel & Hospitality Management Software Market by Product, Deployment, Organization Size, End-User

Description

List of Tables

[187 Pages Report] The Hotel & Hospitality Management Software Market size was estimated at USD 6.63 billion in 2023 and expected to reach USD 7.06 billion in 2024, at a CAGR 6.83% to reach USD 10.54 billion by 2030.

Hotel & hospitality management software constitutes a range of solutions designed specifically for the lodging and hospitality industry to streamline operations, enhance customer service, and optimize the management of various tasks. These tasks include reservations, front desk operations, housekeeping schedules, event management, inventory management, and guest communications. The software aims to provide an integrated platform to manage operations efficiently, improve guest experiences, and increase revenue. The growing need to automate operations to improve efficiency and reduce human error is a significant factor driving the adoption of hotel & hospitality management software. Automation enables hotels to manage reservations, check-ins, and other operations more smoothly, providing guests with a better experience. Growing emphasis on personalized customer experiences drives the demand for hotel & hospitality management software. The global increase in travel, both for leisure and business, has led to a higher demand for lodging and hospitality services. High implementation costs and privacy and security concerns with the hotel & hospitality management software hampers the market growth. The continuous integration of technology, including cloud computing, artificial intelligence (AI), and machine learning in hotel & hospitality management software is expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 6.63 billion
Estimated Year [2024]	USD 7.06 billion
Forecast Year [2030]	USD 10.54 billion
CAGR (%)	6.83%

Product: Growing usage of property management systems for centralizing operations of hotels

Property management systems (PMS) are used to manage day-to-day activities such as guest bookings, check-ins/check-outs, room assignments, and billing. This software centralizes operations, making it easier for hotel staff to access and manage information. Customer relationship management (CRM) systems focus on enhancing the guest experience by managing customer interactions, preferences, and loyalty programs. They help hotels personalize guest services, manage feedback, and tailor marketing efforts to specific segments of their clientele. Channel management systems are crucial for managing online distribution and maintaining consistent availability and pricing across various booking channels such as hotel websites, and online travel agencies (OTAs). Channel managers help avoid overbookings and optimize revenue through strategic channel partnerships. Revenue management systems (RMS) software assists hotels in setting the right prices for their rooms at the right times. It uses data analytics to forecast demand, analyze competition, and determine optimal pricing strategies to maximize revenue. Elements such as seasonality and booking patterns are taken into consideration. Housekeeping & maintenance management software is designed to streamline the housekeeping and maintenance tasks within a hotel. They help schedule cleaning, track the status of rooms, manage the inventory of cleaning supplies, and attend to maintenance requests promptly to ensure guest satisfaction. Point of sale (POS) systems are used to manage transactions related to food and beverage services, spa services, and other ancillary services offered by the hotel. They ensure smooth operations in areas such as hotels, restaurants, and bars by tracking sales, inventory, and customer orders. Event management software helps manage bookings, plan events, and coordinate logistics. It simplifies communication between hotel departments and with clients to deliver successful events. Guest feedback & reputation management tools are instrumental in tracking and analyzing guest reviews from various sources, including social media and review sites. They enable hotels to understand guest sentiment, respond to feedback, and manage their online reputation effectively. Booking & reservation software enables hotels and accommodation providers to manage bookings and reservations efficiently. It serves as a digital ledger, allowing for real-time availability updates, online booking capabilities for guests, and the automation of booking confirmation processes. This software aims to reduce manual work, minimize the risk of overbooking, and improve the customer booking experience.

Deployment: High potential for on-cloud deployment as it helps to access from anywhere and at any time

On-cloud, often referred to as cloud-based or Software as a Service (SaaS), is a delivery model where the hotel and hospitality management software is hosted on the vendor's servers and accessed through the internet. This means the software is not installed on local computers within the hotel's premises and is available online. The software can be accessed from anywhere, at any time, as long as there is an internet connection. This is particularly beneficial for hotel chains and hospitality businesses that operate in multiple locations. Generally, on-cloud solutions follow a subscription model, which means the cost is spread out over time and can be scaled according to the size of the business or usage needs. There's usually no need for significant upfront investment in hardware or infrastructure. On-premises deployment refers to the traditional model of installing and running the software on the computers and servers physically located within the premises of the hotel or hospitality business. While on-premises solutions can offer a perception of greater data security due to the physical control over servers, it requires the business to actively manage and invest in its security measures. The initial investment for on-premises software can be substantial, covering licensing, infrastructure, and setup costs. Additionally, businesses are responsible for ongoing costs related to maintenance, updates, and hardware upgrades.

Regional Insights

In the Americas, the adoption of hotel & hospitality management software is highly driven by technological advancements and the presence of a large number of hotel chains, especially in the United States, Brazil, Mexico, and Canada. The region shows a strong preference for cloud-based solutions due to their cost-effectiveness and scalability. Key factors fueling growth in this region include a focus on improving customer service, the need for operational efficiency, and the increasing trend of integrating artificial intelligence and Internet of Things (IoT) technologies into these software solutions. The Asia-Pacific region is witnessing rapid growth in the hotel & hospitality management software market, attributed mainly to the burgeoning tourism industry, especially in countries including, China, India, and Australia. The increasing number of hotels and resorts, rising disposable incomes, and growing digital penetration are major drivers in this region. Additionally, the emphasis on enhancing guest experiences and operational efficiency by hoteliers in the APAC region further boosts the adoption of these software solutions. In Europe, the Middle East, and Africa (EMEA), the market for hotel & hospitality management software is diverse due to the wide range of countries and cultures within the region. Europe leads within the EMEA, with a strong emphasis on sustainability, regulatory compliance, and offering personalized guest experiences as key trends influencing the adoption of these software solutions. The Middle East, particularly the Gulf countries, is experiencing a surge in luxury and business tourism, which complements the adoption of advanced management software to meet high service standards. Africa shows promise due to its growing tourism sector and the need for infrastructure development.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Hotel & Hospitality Management Software Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Hotel & Hospitality Management Software Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Hotel & Hospitality Management Software Market, highlighting leading vendors and their innovative profiles. These include Aiosell Technologies Pvt. Ltd., Cisco Systems, Inc., Connecteam, eZee Technosys Pvt. Ltd., Guesty Inc., Hostaway Oy, Hotelogix India Pvt. Ltd., Infor Equity Holdings LLC, International Business Machines Corporation, Intertec Systems LLC, IRIS Software Systems, Microsoft Corporation, NEC Corporation, OpenHotel, Inc., Oracle Corporation, Protel Hotelsoftware GmbH, ResNexus, Sabre GLBL Inc., SAP SE, Schneider Electric, Siemens AG, StayNTouch, WinsarInfosoft Pvt.Ltd., and World Web Technologies Inc..

Market Segmentation & Coverage

This research report categorizes the Hotel & Hospitality Management Software Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Booking & Reservation Software
- Customer Relationship Management Software
- Event Management Software
- Housekeeping & Maintenance Software
- Inventory Management Software
- Point-of-Sale Software
- Property Management Software
- Revenue Management Software

Deployment
- On-Cloud
- On-Premises

Organization Size
- Large Sized
- Small & Medium-Sized

End-User
- Event Venues
- Hotels & Resorts
- Restaurants & Food Services
- Travel Agencies

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Hotel & Hospitality Management Software Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Hotel & Hospitality Management Software Market?

3. What are the technology trends and regulatory frameworks in the Hotel & Hospitality Management Software Market?

4. What is the market share of the leading vendors in the Hotel & Hospitality Management Software Market?

5. Which modes and strategic moves are suitable for entering the Hotel & Hospitality Management Software Market?

Product Code: MRR-521BAA36EEC1

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising emphasis on guest experience and proper management
  - 5.1.1.2. Popularity of online travel agencies and need for real-time room availability
  - 5.1.1.3. Growth of global travel and tourism with the establishment of new hotels & resorts
- 5.1.2. Restraints
  - 5.1.2.1. Complex integration with existing systems and technical issues
- 5.1.3. Opportunities
  - 5.1.3.1. New technologies and feature integrations in hotel & hospitality management software
  - 5.1.3.2. Investments in new co-living and vacation rental accommodation concepts
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with data privacy and security
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing usage of property management systems for centralizing operations of hotels
- 5.2.2. Deployment: High potential for on-cloud deployment as it helps to access from anywhere and at any time
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Hotel & Hospitality Management Software Market, by Product

6.1. Introduction
6.2. Booking & Reservation Software
6.3. Customer Relationship Management Software
6.4. Event Management Software
6.5. Housekeeping & Maintenance Software
6.6. Inventory Management Software
6.7. Point-of-Sale Software
6.8. Property Management Software
6.9. Revenue Management Software

7. Hotel & Hospitality Management Software Market, by Deployment

7.1. Introduction
7.2. On-Cloud
7.3. On-Premises

8. Hotel & Hospitality Management Software Market, by Organization Size

8.1. Introduction
8.2. Large Sized
8.3. Small & Medium-Sized

9. Hotel & Hospitality Management Software Market, by End-User

9.1. Introduction
9.2. Event Venues
9.3. Hotels & Resorts
9.4. Restaurants & Food Services
9.5. Travel Agencies

10. Americas Hotel & Hospitality Management Software Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Hotel & Hospitality Management Software Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Hotel & Hospitality Management Software Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. SiteMinder Launched Innovative Mobile Platform for Enhanced Flexibility and Real-Time Insights
- 13.3.2. Revivo Launched Hotel X, Transforming India's Hospitality Landscape with Integrated Management Solutions
- 13.3.3. HotelPort Launched Custom Software Solutions and Platform Integration Services for the Hospitality Industry
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio