Hotel Property Management System Market

Global hotel property management system market is anticipated to reach above USD 35 million by 2026 and is expected to grow at a CAGR of 5% through 2026.

NEW YORK, UNITED STATES, March 4, 2020 /EINPresswire.com/ -- Facts and Factors report “Hotel Property Management System Market By Component (Software, and Services), By Organization Size (Small and Medium Enterprises, and Large Enterprises) By End-User (Business Hotels, Airport Hotels, Suite Hotels, Resort Hotels, and Others), and By Application (Front Desk, Reservation Center, Audit Trials, Point of Sale (POS), Housekeeping, Group Booking Management, Report Analysis & Generation, Revenue Management, Business Analytics, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global hotel property management system market in 2019 was approximately USD 20 million. The market is expected to grow at a CAGR of 5% and is anticipated to reach above USD 35 million by 2026.

The hotel property management system handle reservations, front- and back-office operations such as room rates management, booking reservations, guest check-in, and check-out, assigning rooms and more. A hotel includes the activities of many departments and tracked every operation. For this, hoteliers use various tools including paper forms, and spreadsheets. The hotel property management system reduces time consumes in papers and spreadsheet processes. The hotel property management system merges multiple work environments in software. The software application is used to automates the operations in the hotel such as online reservations, telephone, guest details, guest bookings, posting of charges, sales, and marketing with the point of sale, quality management, cost of beverages and food, materials management and maintenance management, HR and Payroll system, and many more.

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Giving the current scenario of economies, the hotel industry is under incredible pressure to deliver bottom-line performance with a focus on revenue per guest and operational efficiency. This has supported market growth for the hotel property management system. Growing tourism is enhancing the number of hotels such as business hotels, resorts, suites hotel and airport hotels. Additionally, many companies are focusing to innovate new technology in hotel management. These factors may drive the market growth. The small and small to medium enterprises have a budget constraint to adopt new technological solutions as the net revenue is very less and most of the profit is reinvested back in the company in order to expand a business. Also, the investment budget of the small and medium organizations is small due to which these organizations prefer to provide quality service instead of deploying process improvement solutions. Due to high costs and low investment budgets may restraints the hotel property management system market growth. Moreover, the focus of maintenance personnel is too much on technical responsibilities rather than on legal, social, financial, inter-departmental communication and managerial issues, which in turn is expected to hinder market growth for the hotel property management system in the long run. New innovative developments in the software are boosting the market growth. With automation, cloud-based property management system provides easy hotel operations and also minimizes the time and the need for manpower. Due to automation, staff can fully focus on the guests' requirement and hotels will be able to give them a comfortable stay. All these factors may create numerous opportunities in the hotel property management system market.

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By component segment, the market is divided into software, and services. Among this, the software segment is expected to boost the market growth in the duration owing to the facility if offers such as software for reservation. The software segment revenue was accounted for around USD 20 million, in 2019.

By application, in 2019, the growth of the reservation center was nearly 25% of the market share. The reservation center was followed by the point of sale in 2019 due to the increasing usage of digital payment methods.

By organization size, the market is classified into small and medium enterprises, and large enterprises. The large enterprise's revenue was valued at around USD 20 million, in 2019 and it is expected to hold the highest market share in the future years.

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By the end-user, the global hotel property management system market is classified into business hotels, airport hotels, suite hotels, resort hotels, and others. The business hotel segment is anticipated to grow in the near future. Along with the business hotel, the airport hotel is also projected to grow in the future years due to increasing tourism provides a significant rise in the number of airport hotels.

Major key players operating in the Hotel Property Management System market are TAP Co.Ltd., NEC Corporation, INSPIRE LIMITED and others.

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This report segments the hotel property management system market as follows:

Global Hotel Property Management System Market: By Components Segment Analysis

Software
Services

Global Hotel Property Management System Market: By End-Users Segment Analysis

Business Hotels
Airport Hotels
Suite Hotels
Resort Hotels
Others

Global Hotel Property Management System Market: By Application Segment Analysis

Front Desk
Reservation Centre
Audit Trials
Point of Sale (POS)
Housekeeping
Group Booking Management
Report Analysis & Generation
Revenue Management
Business Analytics
Others

Global Hotel Property Management System Market: By Organization Size Segment Analysis

Small and Medium Enterprises
Large Enterprises

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