The hotel channel management market is expected to reach US$ 1483 Mn in 2032, likely to surge at a vigorous 8% CAGR during the forecast period of 2022 – 2032
The multibillion dollar hospitality sector includes hotel channel management as a crucial component. The entire hotel channel management process has numerous advantages for the hospitality sector.
Hotel chains are proliferating all over the world, and the additional technological edge is expanding their periphery. In the upcoming years, the hotel industry will keep expanding on a global scale.
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.
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.