Global Hotel Revenue Management System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hotel Revenue Management System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Revenue Management System for hotels helps in setting the right prices for hotel rooms at the right time. It pulls together data from the hotel, the market and does a general analysis in an efficient and convenient tool. For hoteliers, a single dashboard access to manage their operations, distribution and revenue management will be a great advantage.

Market Overview:

The latest research study on the global Hotel Revenue Management System market finds that the global Hotel Revenue Management System market reached a value of USD 1366.58 million in 2022. It’s expected that the market will achieve USD 3158.59 million by 2028, exhibiting a CAGR of 14.99% during the forecast period.

Opportunities

Some of the main drivers of the growth of the global Hotel Revenue Management System market are increasing awareness of the revenue management system and its impact on revenues of organizations of all sizes.
The hotel revenue management system market is the best way to win the best business choices. Various associations began to consider market recommendations and results for each business unit. More people are eager to spend more money to get accurate and accurate socioeconomics in their markets. The huge proportion of customers chooses projects and management from an association with solid and precise research. Higher ranked projects and management have received more support in the extended figures.
The revenues of some large hotel chains were managed by hotels, resulting in a lack of consistency across regions and markets. The hotel has multiple spreadsheets, which also means there is no single, consistent reporting or method of forecasting revenue. The hotel revenue management system can use a standardized system to help hotels achieve greater efficiency, while also expanding best practices across group brands and better hotel human resource management. Through web deployment, applications are available for all application regions and brands, and in the same market segment of the market, brands can compare and hold the same standards on a similar basis. The hotel revenue management system brings greater benefits to the hotel.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

IDeaS is one of the major players operating in the Hotel Revenue Management System market, holding a share of 8.32% in 2019. As a pioneer and global technology leader, it provides industry-leading revenue management solutions for companies of all types and sizes in the hospitality and travel industries worldwide. It transforms the right data into clear and actionable insights so customers can quickly, confidently price, forecast and report to improve business performance.

Infor is a global leader in business cloud software products for companies in industry specific markets. Infor builds complete industry suites in the cloud and efficiently deploys technology that puts the user experience first, leverages data science, and integrates easily into existing systems.

Segmentation Overview:

Among different product types, Cloud Based segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Mid-Range Hotels & Business Hotels segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Hotel Revenue Management System market covered in Chapter 3:

Rainmaker
Infor EzRMS
IDeaS
SPOTPILOT
BeOnPrice
RevPar Guru
LodgIQ
Duetto
Atomize
RateBoard
AxisRooms
Hotel Scienz

In Chapter 4 and Chapter 14.2, on the basis of types, the Hotel Revenue Management System market from 2018 to 2029 is primarily split into:

Cloud Based
On-Premise

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hotel Revenue Management System market from 2018 to 2029 covers:

Luxury & High-End Hotels
Mid-Range Hotels & Business Hotels
Resorts Hotels
Boutique Hotels
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)