The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The hospitality property management software market has experienced rapid growth in recent years, fueled by factors such as the globalization of the hospitality industry, the increasing emphasis on customer satisfaction, and the demand for online travel agencies. As we delve into the market landscape, it’s evident that the trajectory is set for continuous expansion, driven by emerging trends and major players shaping the industry.

Rising Tourism and Travel Driving Market Growth

• Tourism Impact: The surge in tourism and travel is a pivotal factor propelling the hospitality property management software market.
• UNWTO Insights: According to the United Nations World Tourism Organization (UNWTO), over 900 million tourists traveled internationally in 2022, signifying a significant recovery from the pandemic. The Middle East witnessed a remarkable 83% growth in tourist arrivals compared to pre-pandemic levels.

Major Players Influencing the Market

• Prominent Companies: Oracle Corporation, Amadeus IT Group S.A., Infor Inc., and others play crucial roles in shaping the hospitality property management software market.
• Industry Impact: These major players contribute to the market’s dynamism, innovation, and technological advancements, steering the industry’s growth.

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Focus on Integrated Hotel Guest Engagement Solutions

• Competitive Edge: Major companies are concentrating on integrated hotel guest engagement solutions to gain a competitive edge.
• Cloudbeds Inc. Example: Cloudbeds Inc. introduced Whistle for Cloudbeds, a fully integrated hotel guest engagement solution, offering tools to generate additional revenue, enhance visitor happiness, optimize internal processes, and provide personalized touchpoints across the guest journey.

Global Expansion and Product Offerings through Acquisitions

• Strategic Acquisitions: Guesty Inc., an Israel-based property management platform, acquired Kigo and HiRUM Software Solutions in September 2022.
• Acquisition Impact: The acquisition supports Guesty’s growth strategy by expanding its global reach, bolstering research and development capabilities, and enhancing product offerings. Kigo provides vacation rental software solutions, while HiRUM offers tailored property management software for the hospitality industry.

Market Segmentation and Regional Trends

• Comprehensive Segmentation: The hospitality property management software market is segmented by deployment (on-premise, cloud), organization size (large enterprises, small and medium enterprises), and application (business hotels, resorts and spas, heritage and boutique hotels).
• Regional Dynamics: North America led the market in 2023, with Asia-Pacific projected to be the fastest-growing region in the forecast period, showcasing the global nature of the industry.

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The Hospitality Property Management Software Global Market Report 2023  provides comprehensive insights on the hospitality property management software market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the hospitality property management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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