Hotel Reservations Software Market to Showcase High Growth to show 6.5% CAGR between 2020-2026
Posted On August 27, 2020
The report by Value Market Research on the Global Hotel Reservations Software Market was valued at around USD 1,000 million in 2019 and is expected to grow at a CAGR of around 6.5% over the forecast period. Rapid urbanization and the booming tourism/hospitality sector will be the main steering forces for this market’s growth. Changing consumer behavior trends and the use of automation technology across the various sectors will further stimulate this market’s growth. The demand for hotel reservation software will continue to rise both in small and large-sized hotels because it is easy to install, maintain, and enable streamlining of administrative tasks in a very efficient manner. The extensive use of internet-based technologies, cloud-based solutions, and smartphones will be a market booster. The various hurdles that can hamper the hotel reservations software market’s growth are power outages and the possibility of virus attacks.
Hotel reservations software is a software solution that can handle all the web-based and on-site reservations made in the hospitality sector. It can be customized for all types of accommodation: hotels, motels, hostels, lodges & guest houses. It helps to maintain an organized and efficient reservation protocol. It can be a cloud-based software solution covering room reservations, cancellations, room services, housekeeping, and payments both by the occupants and travel agents. This centralized software is easily accessible from any device and any part of the world and can help boost a hotel’s revenue using data analytics. Real-time integration of the software with travel agents worldwide enables simplified reservations, automated business processes, enhanced market reach, increased occupancy rates, and fewer errors.
The report “Global Hotel Reservations Software Market Report By Component (Software, Services), By End User (Small Size Hotels, Medium Size Hotels, Large Hotels, Mega Hotels, Chain Hotels, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" covers the market introduction, key market statistics followed by in-depth regional revenue/or volume analysis. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
On the basis of component the market is segmented into Software (On-Premise, Cloud Based, Hybrid), Services (Consulting, System Integration, Operation & Maintenance Services). By end user the hotel reservations software market is categorised as (Small Size Hotels, Medium Size Hotels, Large Hotels, Mega Hotels, Chain Hotels, Others). North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are the regions covered in the report. This geographical section of the report highlights the share of the revenue/volume spread globally.
The Report Segments Global Hotel Reservations Software Market -
- Cloud Based
- System Integration
By End User
- Small Size Hotels
- Medium Size Hotels
- Large Hotels
- Mega Hotels
- Chain Hotels
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
RealPage, Inc., MRI Software, LLC, Console Group, Cloudbeds, FCS Computer Systems, eZee Absolute Hoteliga.
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