The software can be utilized to perform important organizational and financial tasks and activities such as reservations, customer relationship management, property and maintenance management, accounting, and employee scheduling by hotels, resorts, motels, RV parks, condos and others.
Absolute Markets Insights offers its latest published report ‘Hotel and Hospitality Management Software Market by Hotel Type (Business Hotels, Heritage and Boutique Hotels, Resorts and Spas); by Type (Hotel Operation Management System, Integrated Security System, Hotel Building Automation Systsssem, Guest Service Management System, Integrated Communication Technology Solutions); by Deployment Type (On-Premises, SaaS-Based); by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, Rest of the World) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018-2026.’
The author of the report analyzed that the global hotel and hospitality management software market accounted for US$ 3095.7 million in 2017. This industry is a fastest growing industry throughout the world.
The prices of the hotels depend upon the service and amenities provided. The changing trends in consumer behavior and technology are opening up opportunities for new software to be developed.
Due to its potential to attract large number of tourists the hotel industry is adopting new technologies such as customer relationship management and latest security systems and software.
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Increase in interest among people to experience adventure & entertainment is fueling the growth. There is an increased adoption of the hotel and hospitality management software due to the increasing need to minimize the expenditure and the operational costs.
It also reduces the dependency on the manual processes. Software efficacy can be hampered due to power outages, virus attacks which may deter the market growth.
However, there has been innovations & up gradations regarding the same to overcome such restraints. Hotels are looking for an opportunity to improve their efficiency and productivity which has led to the development of hotel management platforms.
The time saved from hotel management functionality is expected to strengthen the demand for the hotel and hospitality management software. With government initiatives and commitments by the private sector into infrastructure and transport linkages, hotel investors are looking for future growth opportunity in the hotel and hospitality management software market.
Business Hotels Anticipated to be the Dominant Segments During the Forecast Period, 2018-2026
Among the hotel type, business hotels are a dominant segment holding the largest market share moreover, they are also expected to be the fastest growing market during the forecast period. Increasing trends of western lifestyles has also accelerated the demand for business meetings.
Increasing number of business travelers coupled with demand for better service is fueling the hotel and hospitality management software market growth.
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Rising Demand for Software Solutions to drive the Market in Asia Pacific
Tourism in the Asia Pacific region is continuously flourishing with the growth in outbound tourism from China due to increasing household incomes, relaxation of visa policies and the enhancement in the international air connectivity. Technology advancement has created online platforms for hosts to easily offer rooms and apartments on short term rentals.
For instance, Airbnb is the market leader in this category which covers 191 countries renting over 2 million rooms and apartments. Other notable players in the segment include HomeAway, FlipKey, Rommorama, and operators such as Tujia in China and Homie in Singapore.
According to Singapore Tourism Board, tourists from China ranked as the lowest spending market on accommodation (18%) which is far behind the Australians (28%), Indians (35%), Japanese (35%), and South Koreans (36%). Vietnam focuses on developing its tourism infrastructure.
Marriott International announced the debut of the Fairfield by Marriott brand in Greater China with the opening of Fairfield by Marriott Nanning Nanhu Park. Marriott International and Dossen International Group signed an exclusive development agreement to bring the Fairfield by Marriott brand to mainland China and is estimated to target aggressive growth in different cities across China in the next five years.
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Hotel and Hospitality Management Software Market is Fragmented with the Presence of Global and Regional Players
Major participants in global hotel and hospitality management software market are Johnson Controls, Jonas Software, NEC Corporation, Oracle Corporation, Protel hotel software GmbH., Schneider Electric, Siemens AG. Sabre, Trawex, Winhotel Solution, WINSAR, ASSD, Cisco Systems, Inc., eZee FrontDesk, Huawei Technologies Co.
Ltd., Honeywell International, Inc., IBM Corporation, Infor, Intertec Systems, and iRiS Software Systems among others. In 2015, NEC Corporation launched NEC integrated portfolio of smart solutions for the international hospitality industry that includes communications platforms, unified communications (UC) applications, property management systems (PMS), facial recognition systems, digital signage and guest room management systems.
- Hotel and Hospitality Management Software Market – By Hotel Type
- Business Hotels
- Heritage and Boutique Hotels
- Resorts and Spas
- Hotel and Hospitality Management Software Market – By Type
- Hotel Operation Management System
- Integrated Security System
- Hotel Building Automation System
- Guest Service Management System
- Integrated Communication Technology Solutions
- Market By Deployment Type
- Market By Region
- North America
- Rest of North America
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
- North America
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