Sat, 19 Oct 2019

Hotel and Hospitality Management Software Market By Hotel Type (Business Hotels, Heritage and Boutique Hotels, and Resorts and Spas); By Type (Hotel Operation Management System, Integrated Security System, Hotel Building Automation System, Guest Service Management System, and Integrated Communication Technology Solutions); By Deployment Type (On-premises, SaaS-based)Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022

Wiseguyreports.Com Adds "Hotel and Hospitality Management Software - Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2022" To Its Research Database.

Overview

The global hotel and hospitality management software market accounted for US$2,800 million in 2016 and it is anticipated to reach US$4,300 million by the year 2022, prospering at a CAGR of about 6.5% during the forecast period. Some of the basic services offered by HMM software include front office management, sales management, planning, and account management. Hotel management software helps in automating the complex operations performed at the hotels. For a hotel, an advanced property management system, integrated with a web booking engine and channel manager is a necessity to seamlessly govern the critical hotel-related operations and room inventory distribution.

In today's fast-paced hospitality era, hotel-related operations are getting more complex, which often take a long time to complete. In the hotel and hospitality management software market Advanced Hotel management systems can effectively automate them, building opportunities for the staff to better serve their visitors and guests. Incorporating a hotel management system in day to day business procedures helps to do a great part of the work and in some cases eliminate or reduce the time spent on accomplishing complex operations, enabling hoteliers to focus on enhancing their brand value and increasing overall business productivity. Further, transparency-based communication between varied hotel departments is highly crucial.

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Hotel staff are required to work in synchronization to serve all the guests optimally. Another benefit of hotel management software is that it provides scope for clear and susceptible communication between all hotel departments. This ensures that all the employees are functioning efficiently and effectively. Proper communication between the staff will result in saving time and offering an enhanced and more personalised experience to all the guests. Integration of a hotel management system with an efficient channel management function is highly critical. This integration will enable the hotel owners to advertise across several channels from the global distribution systems (GDSs) and large online travel agents (OTAs), to individual retail travel agents.

Market Segmentation

The global hotel and hospitality management software market can be analyzed on the basis of hotel type, software type, deployment models, regional markets and prominent market players. Based on the hotel types, the global hotel and hospitality management software market can be segmented into Business hotels, Heritage and Boutique Hotels, Resorts, and Spas. The hotel management software can be further classified into different types including Hotel Operation Management System, Integrated Security System, Hotel Building Automation System, Guest Service Management System, and Integrated Communication Technology System. The hotel management software can have two basic modes of deployment, including on-premise deployment and on-demand cloud-based deployment. The on-demand cloud-based software is gaining traction owing to the ease of maintenance and cost-effectiveness. The cloud-based hotel management software offers several SAAS-based solutions.

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Regional Analysis

North America, Europe, Asia Pacific, Southeast Asia, Central and South America, and the Middle East and Africa are the major regions contributing to the growth of hotel and hospitality management software market market. The Asia Pacific hotel and hospitality management software market accounted for US$970.28 Million in the year 2014. The rising adoption of the cloud-based hotel management solutions across the major business and boutique hotels, constantly progressing hotel and hospitality industry are the major factors driving the growth of this regional market. North America is another crucial hotel and hospitality management software market. Existence of some premium hotel chains and competent software developers are driving this regional market. Hotels across this region are increasingly adopting this advanced software to enable operational efficiency and enhance the overall business productivity.

Important Facts

Recently, eZee Technosys, a prominent software provider, launched eZee Frontdesk, an advanced hotel management software. eZee Technosys claims that eZee Frontdesk is being increasingly utilized by boutique hotels, business hotels, consumer lodges, resorts, and small hotels around 140 countries in the world. The software offers other efficient services including rate management and event management. The software is well-competent to effectively handle check-in kiosk. The vendor has also developed eZee front desk mobile applications, for receiving hotel-related information and account reports on smartphones.

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