Hotel Reservations Software Market Size, Share, Growth, and Industry Analysis, By Type (Cloud-based and Web-based), By End User (Large Enterprises and SMEs), and Regional Forecast to 2032

Updated On: 22 April 2024

Report Overview

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The global hotel reservations software market size was USD 707 million in 2021. As per our research, the market is expected to reach USD 1379.5 million by 2028, exhibiting a CAGR of 9.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the hotel reservations software market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Hotel reservation software, also known as a hotel reservation system, is a software application that allows hotels to manage their reservations. It typically includes features such as online booking, channel management, inventory management, reporting, and customer relationship management (CRM).

Online booking allows guests to book rooms directly on the hotel's website or through a third-party booking engine. Channel management allows the software to be used to manage reservations made through other channels, such as online travel agencies (OTAs). Inventory management allows the software to track room availability and prices. Reporting allows the software to generate reports on bookings, revenue, and other metrics. CRM allows the software to manage guest data and interactions.

COVID-19 Impact: Pandemic Decreased the Market Demand

The COVID-19 pandemic has had a significant impact on the hotel reservations software market share. The pandemic led to a sharp decline in travel and tourism, as people were advised to stay home and avoid unnecessary travel. This led to a decrease in demand for them, as there were simply fewer people traveling. Increased focus on contactless booking: The pandemic also led to an increased focus on contactless booking, as people were looking for ways to avoid contact with others. This led to a demand for them that offered contactless booking options, such as online booking and mobile check-in. The pandemic also changed the way people booked hotels. For example, people were more likely to book last-minute or cancel their bookings at the last minute. This made it more difficult for hotels to manage their reservations, and it also led to a decrease in demand for them. The pandemic also led to increased competition in the market. As more and more hotels began to offer contactless booking options, they also began to offer their own hotel reservations software solutions. This made it more difficult for hotel reservations software vendors to compete.

Latest Trends

"The growing popularity of mobile-friendly hotel reservations software. is expected to fuel the growth in the market"

Travelers are increasingly using their mobile devices to book hotels, so it is important for hotels to have a mobile-friendly reservations platform. More and more people are using their mobile devices for everything, including booking hotels. In fact, a recent study found that 62% of travelers use their mobile devices to book hotels. Mobile booking is convenient for travelers because they can do it from anywhere, at any time. They don't have to be at a computer to book a hotel, which can be especially helpful if they are on the go. Many hotels now offer mobile apps that make it even easier for travelers to book rooms. These apps typically have a user-friendly interface and allow travelers to search for hotels, view availability, and make reservations quickly and easily.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Cloud-based and Web-based.

• By End User Analysis

Based on age, the market can be divided into Large Enterprises and SMEs.

Driving Factors

"Increasing adoption of online booking platforms to foster the market growth"

The increasing adoption of online booking platforms is a major driving factor in the market because it makes it more convenient for travelers to book hotels. Online booking platforms allow travelers to compare prices and availability from different hotels, and they can also book rooms quickly and easily from anywhere in the world. In addition, online booking platforms offer a number of other features that can make the booking process easier, such as the ability to filter results by price, location, and amenities. As more and more travelers adopt online booking platforms, the demand for hotel reservations software is increasing. Hotel reservations software helps hotels to manage their online bookings and to improve the customer experience.

"Growing popularity of mobile devices to result in the expansion of the market"

The growing popularity of mobile devices is another major driving factor in the market. This is because travelers are increasingly using their mobile devices to book hotels. In fact, a recent study found that 62% of travelers use their mobile devices to book hotels. As the popularity of mobile devices continues to grow, the demand for mobile-friendly hotel reservations software is also increasing. The software that is mobile-friendly makes it easy for travelers to book rooms from their mobile devices. In addition to the convenience and flexibility that online booking platforms and mobile devices offer, these technologies also provide a number of other benefits

Restraining Factors

"Security concerns to hamper the market growth"

It typically collects and stores a lot of sensitive data about guests, such as their names, addresses, credit card numbers, and passport information. This data is a valuable target for hackers, who can use it to commit identity theft, fraud, and other crimes. There have been a number of high-profile data breaches involving them in recent years.

Regional Insights

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"Asia Pacific to lead the market owing to the increasing adoption of online booking platforms. "

The Asia Pacific region has shown the highest hotel reservations software market growth. The Asia-Pacific region is one of the fastest-growing regions for online booking platforms. This is making it easier for travelers to book hotels, which is also driving demand for them.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market."

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Amadeus: Madrid, Spain
• Sabre (SynXis): Southlake, Texas, United States
• Mingus Software (Hotello): Toronto, Canada
• HotelRunner: London, United Kingdom
• ResNexus: Austin, Texas, United States
• Little Hotelier: Melbourne, Australia
• EZee: Delhi, India
• Eviivo: Stockholm, Sweden
• RoomKeyPMS: Vancouver, Canada
• Resort Data (RDPWin): Scottsdale, Arizona, United States
• Cvent Passkey: Tysons Corner, Virginia, United States
• Pegasus: Istanbul, Turkey
• D-EDGE: Paris, France
• SHR (Windsurfer): Norcross, Georgia, United States
• Shiji: Hangzhou, China
• GreenCloud: San Mateo, California, United States

Report Coverage

This report examines an understanding of the hotel reservations software market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.