Hotel Management Software Market Statistics:
Hotel management software market is experiencing a considerable growth and has a potential to grow much higher in next few years. The hotel management software system is a platform,which simplifies hotel operations with the help of automation. It covers all aspects of hotel management including reservations, back-office, front-office, housekeeping, guest check-in/check-out, maintenance, and billing. It is a computerized system that enable hotel staff to manage properties and handle equipment (legalities and maintenance) through a centralized software. It helps to improve growth and efficiency of both hotel group and independent hotel. It is also suitable for other property types such as motels, resorts, restaurants, bed & breakfast (B&Bs), guest houses, serviced apartments, and vacation rentals.
Impact of COVID-19 Pandemic on Hotel Management Software Market:
- Hospitality industry is the most affected sector due to COVID-19 pandemic. It is affecting all levels of hospitality. As various countries around the world are facing lockdown, hotel rooms are lying vacant resulting into shut down of hotels.
- However, it is a temporary situation and eventually will be over. The post pandemic is expected to help flourish hotel management software market and significant adoption of software will be observed.
- With a cloud-based hotel management software system, hotel management team can control all operations at anytime from anywhere.
- The software will help hoteliers to engage with guests/visitors without personal contactto perform operations such as check in/check out, meals, and service orders.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Need for SaaS-based hotel management software is anticipated to drive growth of the hotel management software market in next few years. Its cost-effectiveness due to low maintenance and installation cost drive the demand for SaaS-based hotel property management software in the hospitality industry. In addition, rapid growth in hospitality as well as tourism industry plays a major role in the hotel management software market growth. Hoteliers are focused on implementing strategies &solutions prominently to enhance and maintain operational efficiencies and improve customer engagement. However, integration complexities of the software system and inadequate availability of technically-skilled personnel restrain the market growth to some extent. On the other hand, new technologies such as internet of things (IoT), machine learning, and Artificial intelligence are expected to create opportunities for the cloud-based hotel management software market.
The global hotel management software market trends are as follows:
Mobile Technology to flourish the market
Mobile technology integration is continuing to evolve in the hospitality and hotel industry. Innovations such as remote check-in, mobile room keys, and room reservations are leading the way to adopt hotel management software adoption to manage mobile based application services.
In larger hotel chains, guests use their mobiles for elevator floor selection as well as control room lighting, closing curtains, opening doors, playing music, or even selecting a TV program. Hence, trend of personalized guestsexperiences observed due to mobile technology is one of the driving factors for hotel management software adoption.
Surge in Need to Automate Daily Tasks and Enable Online Bookings
Hoteliers are in need to make sure their hotels have an online presence to attract guests who can book through hotelwebsites. Travelers increasingly and consistently perform research & book online. Availability and rates of rooms are pulled from hotel management software directly, minimizing double bookings or other inconveniences to guests.
Key benefits of the report:
- This study presents the analytical depiction of the global hotel management software industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hotel management software market share.
- The current market is quantitatively analyzed to highlight the global hotel management software market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global hotel management software market analysis based on competitive intensity and how the competition will take shape in coming years.
Hotel Management Software Market Report Highlights
By End User
Key Market Players
Johnson Controls, NEC Corporation, International Business Machines Corporation (IBM), Infor., Huawei Technologies Co. Ltd., Honeywell International, Inc, Oracle Corporation, Protel hotel software GmbH.,, Cisco Systems, Inc., Schneider Electric