Hotel Property Management Software Market by Function, Type, Deployment, End User

Description

List of Tables

[193 Pages Report] The Hotel Property Management Software Market size was estimated at USD 7.15 billion in 2023 and expected to reach USD 7.91 billion in 2024, at a CAGR 10.84% to reach USD 14.71 billion by 2030.

The hotel property management software (HPMS) market comprises businesses and solutions that assist hotels and other lodging facilities administer front-office capabilities, such as reservation management, guest check-in/check-out, room assignment, and room rates and billing. HPMS often integrates with third-party systems for customer relationship management, revenue management, and digital marketing. Key factors propelling the growth of the HPMS market include the increasing demand for real-time services, a surge in travel and tourism, the proliferation of cloud computing, the need for streamlined and efficient property management practices, and enhancements in customer service. However, certain limitations challenge the market's growth, including high setup and maintenance costs of HPMS for smaller properties, data security concerns related to cloud-based systems, and integration complexities with existing technologies. A steep learning curve for staff and adapting to rapidly changing technology standards can be formidable challenges for this market. Furthermore, emerging trends present potential opportunities within the HPMS market, such as developing mobile applications that provide greater flexibility for hotel staff and enhance guest experiences. Contactless technology solutions for check-in/out processes, personalized guest experiences through data analytics, and a focus on sustainability in hotel operations are current areas of opportunity.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.15 billion
Estimated Year [2024]	USD 7.91 billion
Forecast Year [2030]	USD 14.71 billion
CAGR (%)	10.84%

Function: Growing utilization of channel and revenue management systems to optimize sales and pricing

The booking engine is a crucial feature for any hotel property management software. It enables direct reservations through a hotel's website, eliminating the necessity for third-party booking sites and reducing commission expenses. Key functionalities include real-time availability, multi-language, and currency support, user-friendly interfaces, secure payment processing, and mobile optimization. Channel management tools are critical for hotels that distribute their inventory across multiple platforms, such as online travel agencies, global distribution systems, and metasearch engines. This tool helps in avoiding overbookings and ensures rate parity.

Lease management is pertinent for hotels and resorts that operate on leased properties or include leasing in their business operations, such as conference spaces and retail shops. This function helps in tracking lessee details, lease terms, and payments. Property accounting functionality is designed to handle all financial transactions within the hotel, including budgeting, accounts payable/receivable, and financial reporting. It proves crucial for any hotel of any size, requiring accurate and comprehensive financial controls and reporting.

Property Inspection tools are vital for maintaining a hotel's quality and service standards through regular site inspections and maintenance tracking. Restaurant point of sale (POS) systems manage transactions in hotel dining services, including order tracking, billing, and kitchen operations. Revenue management software helps hotels predict consumer demand, set room rates dynamically, and allocate rooms effectively to maximize revenue. Room reservation systems allow for managing and giving room inventory while assisting staff with operations such as check-ins and check-outs and managing stay details.

Type: Increasing use of hotel property management software in hotels & resorts to handle various functionalities

Software solutions in the homestay accommodation category are tailored to small-scale, privately-owned accommodations such as bed & breakfasts and guest houses. These platforms facilitate booking management, guest communication, and payment processing, offering a personal touch to manage guest experiences in homestay accommodations. Chain hotels, often part of a larger hotel group or franchise, require comprehensive property management software (PMS) solutions that offer centralized control and distributed management capabilities. These solutions are tailored to ensure brand consistency across all properties while enabling unique customization for local needs. Large hotels, featuring a wide range of services and amenities, demand PMS solutions that seamlessly manage complex operations. Essential functionalities for this segment include advanced booking engines, efficient room and service management, event and conference management tools, and comprehensive reporting and analytics to drive strategic decisions. Medium-sized hotels need versatile PMS solutions that balance advanced features, usability, and cost-efficiency. Key requirements include efficient front desk operations, inventory management, integrated POS systems for ancillary services, and online booking capabilities. Small hotels, including boutique properties, prioritize user-friendly and affordable PMS options that cover essential operations without unnecessary complexity. Important aspects are streamlined check-in/check-out processes, basic guest management, direct booking tools, and straightforward reporting features. The PMS of very large hotels focuses on managing rooms and reservations to include integrated solutions for spas, golf courses, multiple dining venues, and entertainment services. The focus is on delivering a personalized guest experience through customer relationship management (CRM) integrations, real-time data analytics, and mobile applications for guest interactions. Targeted at retirement communities and lifestyle villages, lifestyle villages HPMS solutions focus on resident management, facilities booking, maintenance scheduling, and community engagement functionalities. In the marina, the software helps manage docking, storage, and services for boats and yachts, enhancing operational efficiency. Software for motels and lodges focuses on streamlining operations such as room bookings, guest check-in/out, housekeeping schedules, and billing. Hotel property management software solutions offer features for managing campgrounds and RV parks, including reservation management, site mapping, and maintenance tracking. They aim to simplify the booking process and improve the guest camping experience. Serviced apartments, which blend the comfort of residential living with the luxury of hotel amenities, increasingly leverage hotel property management software (HPMS) to optimize their operations, including integrated booking management, maintenance & housekeeping coordination, guest experience enhancement, and financial and performance reporting.

Deployment: Expanding demand for on-cloud solutions due to its ease and efficiency

On-cloud deployment refers to the delivery of hotel property management software (PMS) as a service hosted on the provider's servers and accessed through the Internet. This model, commonly known as Software-as-a-Service (SaaS), allows for more flexible, scalable, and often more cost-effective solutions. On-premises deployment denotes using Hotel PMS installed on the hotel's computer servers. This model requires a more significant initial investment in IT infrastructure, and it gives the hoteliers complete control over their data and often a higher level of customization.

End User: Rising demand in boutique hotels owing to customizable features offered

Boutique hotels leverage property management software to manage room bookings efficiently, ensuring a seamless guest experience from reservation to check-out. PMS systems aid in crafting personalized deals, managing loyalty programs, and streamlining housekeeping and maintenance schedules, all of which are critical for maintaining the unique charm and high standards expected in boutique hospitality environments. Hotel property management software in business hotels is pivotal in optimizing check-in/check-out processes, integrating with conference facility management, and ensuring high-speed internet access and availability of business-centric amenities. Property management software is crucial for managing corporate accounts, facilitating room block management for events, and providing detailed reporting that can help in strategic decision-making to improve business traveler satisfaction and loyalty. Resorts and spas use hotel property management software to arrange extensive services and amenities to ensure guests' relaxing and rejuvenating experiences. Property management software is vital for the efficient operation of these establishments, from managing spa and wellness appointments to coordinating activities and excursions. They enable real-time scheduling, manage inventory of necessary supplies for spa services, coordinate guest transportation services, and ensure that guest preferences are noted and accommodated to the finest detail. Hotel property management software in resorts and spas helps manage dynamic pricing for rooms and services based on seasonality and occupancy rates, maximizing revenue and enhancing the guest experience.

Regional Insights

In the Americas, with the United States and Canada at the forefront, there is a heightened demand for hotel property management software due to the large hospitality industry and a high rate of technology adoption. The U.S. market is mature, with customers seeking advanced, integrated solutions that streamline operations and enhance guest experiences. Canadian hoteliers are similarly inclined with a tighter focus on cost-effectiveness and scalability, reflecting the region's cautious and progressive purchasing behavior. Countries such as China, Japan, and India are experiencing rapid expansion in the hospitality sector, leading to surging demands for hotel property management systems. In China, the market is growing with an emphasis on mobile integration and digital solutions due to widespread smartphone usage. Japan prefers precision and reliability in software to match its high service standards. India's hotel industry is burgeoning, focusing more on affordable, scalable solutions for its growing number of small and medium-sized hotels. Within the EU, there is a strong emphasis on compliance with regulations such as the General Data Protection Regulation (GDPR), which significantly impacts software management choice. The Middle East observes luxury hotels and resorts adopting advanced systems for impeccable service delivery. Africa is characterized by a diverse market with an emerging segment of hoteliers seeking cost-effective yet robust software solutions to manage operations efficiently.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Hotel Property Management Software Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Hotel Property Management Software Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Hotel Property Management Software Market, highlighting leading vendors and their innovative profiles. These include Agilysys, Inc., ASSD GmbH, Atulyam Hotelline Solutions Pvt. Ltd, AxisRooms Travel Distribution Pvt. Ltd., Care Internet Services B.V., Cisco Systems, Inc., Cloudbeds, FCS Computer Systems, Finner PMS, Grace Software, Inc., Hallisoft, hoteliga international Sp. z o.o., Hotelogix India Pvt. Ltd, HotelTime Solutions a.s., Huawei Technologies Co. Ltd., IDS Next Business Solutions Pvt. Ltd., Infor by Koch Industries, Inc., InnQuest Software, innRoad Hotel Management Software, International Business Machines Corporation, IRIS Software Systems Ltd., Johnson Controls International PLC, Mews Systems B.V, Nobeds, Oracle Corporation, ResNexus, Revpar Guru Inc., RMS Cloud, Salesforce, Inc., SAP SE, Shiji Group, Sirvoy Limited, Stayntouch Inc., ThinkReservations, WebRezPro, and Yanolja Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Hotel Property Management Software Market to forecast the revenues and analyze trends in each of the following sub-markets:

Function
- Booking Engine
- Channel Management
- Lease Management
- Property Accounting
- Property Inspection
- Restaurant POS
- Revenue Management
- Room Reservation

Type
- Homestay Accommodation
- Hotels & Resorts
  - Chain Hotel
  - Large Hotels
  - Medium Hotels
  - Small Hotels
  - Very Large Hotels

Lifestyle Villages
Marina
Motels & Lodges
Park & Campground
Serviced Apartments

Deployment
- On-Cloud
- On-Premises

End User
- Boutique Hotel
- Business Hotel
- Resorts & Spas

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Hotel Property Management Software Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Hotel Property Management Software Market?

3. What are the technology trends and regulatory frameworks in the Hotel Property Management Software Market?

4. What is the market share of the leading vendors in the Hotel Property Management Software Market?

5. Which modes and strategic moves are suitable for entering the Hotel Property Management Software Market?

Product Code: MRR-437896AA3E08

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growth of the travel & tourism industry and hotel infrastructure
  - 5.1.1.2. Social media and mobile application integration in hotel PMS
- 5.1.2. Restraints
  - 5.1.2.1. Complex integration of hotel PMS with legacy systems
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in hotel management software with improved features
  - 5.1.3.2. Strategic partnerships between hotels and PMS software providers
- 5.1.4. Challenges
  - 5.1.4.1. Security issues in hotel property management solutions
5.2. Market Segmentation Analysis
- 5.2.1. Function: Growing utilization of channel and revenue management systems to optimize sales and pricing
- 5.2.2. Type: Increasing use of hotel property management software in hotels & resorts to handle various functionalities
- 5.2.3. Deployment: Expanding demand for on-cloud solutions due to its ease and efficiency
- 5.2.4. End User: Rising demand in boutique hotels owing to customizable features offered
5.3. Market Trend Analysis
- 5.3.1. Expanding adoption of hotel property management softwares by international and domestic hotels in the Americas
- 5.3.2. Growing number of hotel chains with expanding travel & tourism sector enhancing the scope of the hotel property management software in Asia-Pacific region
- 5.3.3. Burgeoning tourism & hotel industry in EMEA and established presence of hotel PMS software providers
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Hotel Property Management Software Market, by Function

6.1. Introduction
6.2. Booking Engine
6.3. Channel Management
6.4. Lease Management
6.5. Property Accounting
6.6. Property Inspection
6.7. Restaurant POS
6.8. Revenue Management
6.9. Room Reservation

7. Hotel Property Management Software Market, by Type

7.1. Introduction
7.2. Homestay Accommodation
7.3. Hotels & Resorts
7.4. Lifestyle Villages
7.5. Marina
7.6. Motels & Lodges
7.7. Park & Campground
7.8. Serviced Apartments

8. Hotel Property Management Software Market, by Deployment

8.1. Introduction
8.2. On-Cloud
8.3. On-Premises

9. Hotel Property Management Software Market, by End User

9.1. Introduction
9.2. Boutique Hotel
9.3. Business Hotel
9.4. Resorts & Spas

10. Americas Hotel Property Management Software Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Hotel Property Management Software Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Hotel Property Management Software Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Shiji PMS Integrated with ReviewPro for Enhanced Operational Efficiency
- 13.3.2. IBS Software Acquires APS for USD 90 Million as it Targets Major Growth in Hospitality Sector
- 13.3.3. STAYNTOUCH Lands USD 48m Investment to Expand Pms Services
- 13.3.4. RoomRaccoon Acquires Irish Hotel Management Software Company, iHotelligence
- 13.3.5. Noble House Hotels & Resorts Moves Property Management to the Cloud with Infor
- 13.3.6. HotelRunner Acquired Point-Of-Sale Software Company PayPad to Expand its Hotel Tech System
- 13.3.7. Canary Technologies Unveils Canary AI, a Groundbreaking Generative AI-Powered Guest Management System for Hoteliers
- 13.3.8. RMS Cloud and Atomize Join Forces to Revolutionise Hotel Revenue Management
- 13.3.9. Staynex Partners with Huawei to Enhance Web3 Initiatives for the Travel and Hospitality Industry
- 13.3.10. Hotelogix and BookingWhizz join Forces to Supercharge Hotel Revenue, Empowering Upselling, and Direct Bookings
- 13.3.11. IRIS Launches Venture Arm to Build Hospitality Tech Ecosystem
- 13.3.12. Oracle Teams with Wyndham to Bring OPERA Cloud To 2,000 Additional Hotels
- 13.3.13. FCS And Stayntouch Collaboration Transforms Hotel Operations and Guest Services
- 13.3.14. Raines Acquires HP Hotels to Accelerate Strategic Growth and Expand Property Management Capabilities
- 13.3.15. Fletcher Hotels Partners with Shiji to Enhance Guest Experience with Cloud-based Property Management System

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio