Hotel and Hospitality Management Software Global Market Report 2024

The hotel and hospitality management software market size has grown strongly in recent years. It will grow from $3.23 billion in 2023 to $3.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased adoption of SaaS, growth in demand for automation, rise in emphasis on customer experience, globalization of the hospitality industry, and rise in regulatory compliance requirements.

The hotel and hospitality management software market size is expected to see strong growth in the next few years. It will grow to $4.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the expansion of IoT and smart technologies, the rise of contactless solutions, increasing demand for data analytics solutions, the growing focus on sustainability, shift towards hybrid work models. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning, Internet of Things (IoT) integration, adoption of contactless solutions, use of advanced data analytics capabilities, and adoption of cloud-based management software solutions.

The rapid growth of tourism is expected to drive the expansion of the hotel and hospitality management software market in the coming years. Tourism involves traveling for pleasure or leisure, exploring different destinations, experiencing diverse cultures, and engaging in recreational activities away from one's usual environment. This growth in tourism is fueled by economic development, improved transportation infrastructure, and a growing interest in cultural exchange, leading to increased demand for innovative hospitality technology solutions. Hotel and hospitality management software streamline operations and enrich the overall guest experience for tourists by facilitating seamless booking processes, personalized services, and efficient communication, ensuring a comfortable stay. For example, in May 2023, according to the World Tourism Organization, international tourism revenue surpassed the $1 trillion mark in 2022, experiencing a 50% growth in real terms compared to 2021. Additionally, an estimated 235 million tourists traveled internationally in the first quarter of 2023, more than double the number from the same period in 2022. Hence, the rapid growth in tourism is a key driver behind the expansion of the hotel and hospitality management software market.

Key players in the hotel and hospitality management software market are concentrating on developing advanced technological solutions, such as software-as-a-service (SaaS)-based hospitality management platforms, to gain a competitive advantage. A SaaS-based hospitality management platform is a cloud-based solution designed to streamline and optimize various aspects of operations within the hospitality industry. For instance, in December 2023, Revivo Technologies, an India-based deep tech company, introduced Hotel X, a SaaS-based hospitality management and growth platform aiming to revolutionize the hotel industry. Hotel X provides a comprehensive solution for automating workflows and driving growth for hotel businesses, leveraging AI capabilities for real-time reporting, monitoring, and data-driven feedback. It integrates with prominent online travel agencies (OTAs) and utilizes AI and ML algorithms to maximize revenue through rate optimization and increased sales channels. Moreover, it enhances the guest experience with digitized onboarding processes, single-click or QR-based check-ins, and centralized service ordering features.

In December 2023, RoomRaccoon B.V., a Netherlands-based company specializing in hotel management software, acquired iHotelligence for an undisclosed amount. This acquisition aims to bolster RoomRaccoon's presence in the Irish market and strengthen its position as a global provider of hotel management software. By integrating iHotelligence's suite of software products, including its on-site property management system, booking engine, and channel manager, RoomRaccoon enhances its offering. iHotelligence is an Ireland-based hotel management software company.

Major companies operating in the hotel and hospitality management software market are Oracle Corporation, Schneider Electric, NEC Corporation, Amadeus Hospitality Inc., Infor Hospitality, Sabre Corp., Choice Hotels International Inc., Travelclick Inc., Guesty Corp., eZee Technosys Pvt. Ltd., SiteMinder Limited (Little Hotelier), Protel Hotel Software GmbH, Hotelogix PTE, Newhotel Software, StayNTouch Inc., Trawex Technologies Pvt Ltd, ResNexus, WebRezPro-World Web Technologies Inc, The ASSD Software Company, Clock Software Solutions Pvt.Ltd, Hoteliga International Sp. z o.o., RoomRaccoon B.V., Winhotel Solution Ltd, MyAllocator, Clarity Hospitality Software Solutions.

North America was the largest region in the hotel and hospitality management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hotel and hospitality management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hotel and hospitality management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Hotel and hospitality management software are specialized digital solutions crafted to streamline and automate diverse operations within hotels, resorts, and other hospitality establishments. These software tools aim to enhance efficiency, elevate guest experiences, optimize resource allocation, and ultimately bolster profitability for hospitality businesses.

The primary types of hotel and hospitality management software encompass hotel operation management systems, integrated security systems, hotel building automation systems, guest service management systems, and integrated communication technology solutions. Hotel operation management systems are specifically designed to streamline and automate operational tasks within a hotel. They offer various deployment types, including on-premises and SaaS-based solutions, catering to a wide array of services such as system integration, professional services, managed services, among others. These systems find application across different types of hotels including business hotels, resorts and spas, boutique hotels, and others.

The hotel and hospitality management software market research report is one of a series of new reports that provides hotel and hospitality management software market statistics, including hotel and hospitality management software industry global market size, regional shares, competitors with a hotel and hospitality management software market share, detailed hotel and hospitality management software market segments, market trends and opportunities, and any further data you may need to thrive in the hotel and hospitality management software industry. This hotel and hospitality management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hotel and hospitality management software market includes revenues earned by entities providing services such as housekeeping management, workflow automation, channel management, and consulting and advisory services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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