Global Hotel and Hospitality Management Software Market 2018-2022
About Hotel and Hospitality Management Software
Hotel and hospitality management software is used to aid in the hotel, restaurant, spa, and other hotel-based recreational operations. This software mainly assists with ordering, billing, inventory management, queue management, guest response management, and others.
Technavio’s analysts forecast the global hotel and hospitality management software market to grow at a CAGR of 8.91% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global hotel and hospitality management software market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hotel and Hospitality Management Software Market 2018-2022
Technavio recognizes the following companies as the key players in the global hotel and hospitality management software market: Amadeus IT Group, Cisco Systems, Oracle, Sabre, and Salesforce.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rise in cloud integration. The demand for cloud-based integration of hotel and hospitality management systems is increasing. The cloud-based hotel and hospital management software provide access to the application via web-based browsers, wherein the admin has previously defined the access level and processes across the organization.”
According to the report, one driver in the market is reduction in overall operational costs. Hotels focus on integrating newer technology to lower down their expense on document processing through automation. Mid-to-small size hotels concentrate toward increasing their income by controlling company expenditure and streamlining their operations.
Further, the report states that one challenge in the market is complications in changeover from traditional system. A business should consistently satisfy customer needs by launching new products or services as per the market demand by tracking and analyzing the customer interactions in a systematic and organized way to convert the potential lead to a final sale. However, the adoption of advanced technology in the hotel and hospitality sector is causing system integration and interoperability issues.
Amadeus IT Group