The hotel channel management market is anticipated to grow at a strong 8% CAGR from 2022 to 2032, reaching US$ 1483 Mn in that year.
Hotel channel management is an integral part of the multibillion dollar hospitality industry. The entire process of hotel channel management is benefitting the hotel industry in several ways. The added technological edge is broadening the periphery of hotel chains that are spreading across the world. The global hotel industry will continue to grow in the forthcoming years.
The boom of the internet, the emergence of a new crop of tech-savvy travellers around the world, and the mushrooming of new travel destinations is building up the base of the global hotel and tourism industry. The all-inclusive surge of the hotel and tourism industry is impacting the rise of hotel channel management.
Regions such as Asia Pacific and Europe have been the cradle of hospitality and tourism and this sector is rocketing steadily with growing tourism destinations popularising the use of hotel channel management. The tourism sector in Middle Eastern countries is comparatively new.
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Tourism in the African region is witnessing a massive footfall of tourists throughout the year and private players are shelling out massive funds to change the ecosystem of the hotel and tourism industry through hotel channel management.
Hotel channel management is preferred by the new breed of millennial travellers who are populating most of the high-end hotels and tourist destinations across the world. The enhancement of mobile app-based travel management will buckle up the growth of hotel channel management in the coming years.
In the last few years, hotel channel management has grown manifold; the tool is not only user friendly but it also ushers significant change in the revenue structure of hotels. There are a plethora of hotel channel management tools available in the global market; however, users often complain about their below-par performance. Some of the tools are extremely tricky to use and do not provide the desired results.
The dissatisfaction levels amongst hoteliers is soaring and this is further fuelling the growth and adoption of hotel channel management.
Hotel Channel Management: The Game Changers
Hotel channel management has evolved with time. The hotel channel management system has helped rehash the entire hotel booking system through a smart and transparent process.
Hotel bookings are made easy and convenient as long email chains are no longer the way to book a suave room. Through hotel channel management a two-way communication channel can be established that can further help hoteliers understand market trends and easily gauge their market performance.
Hotel channel management also enables customers to get a clear idea about room tariffs and availability of accommodation. Hotel channel management has redefined the service levels of the hotels and created a global and customer-friendly climate in the market. New and advanced cloud-based hotel management systems are a recent addition, helping enhance the outreach of hotel channel management.
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The army of app-savvy wanderers is adding fodder to the growth of the hotel channel management system. A revamped marketing outreach and better customer management policies laid down by several hotels are also promoting the overall sale of hotel channel management tools.
The availability of real-time hotel room tariffs, room patterns and availability is luring more customers and the usage and acceptance of hotel channel management is surging in the hotel and tourism market.
Hotel Channel Management: Restraints
The emergence of hotel channel management is complimenting the growth and development of the entire hospitality industry. Hotel channel management is a potboiler in the tourism industry and some of the prime luxury properties are using this route to reach their targeted customer base.
However, the sudden upsurge of extremist activities has dampened the growth of the tourism and hospitality industry. A slow movement of tourists in the extremity zones in high risk countries has restricted the adoption of hotel channel management.
Hotel Channel Management: Bigwigs
There is a slew of hotel channel management tools available in the market. Some are third party platforms used by small and medium sized hotels and motels for bookings and room management. Most of the industry leaders use their own tailor-made tools for hotel channel management. Here is a list of few of the key software that are working well in this segment today – Hotelogix, ParTech, WebRezPro, RezOvation.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
- Trends that will impact the sector in the short- and long-term
- Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers
Key Segments Profiled in the Hotel Channel Management Market Survey
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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