From GlobeNewswire: 2025-06-17 10:00:00

The Hotel and Hospitality Management Software Market was valued at USD 3.63 billion in 2023 and is projected to reach USD 6.88 billion by 2032, with a CAGR of 7.40% from 2024 to 2032. The market is being driven by the rapid adoption of AI-powered property management systems and demand for contactless guest services. Major players in the market include Agilysys NV LLC, Cloudbeds, and Microsoft, among others.

The Property Management segment dominated the market in 2023, accounting for 25% of revenue share, with hoteliers using property management solutions to achieve operational efficiency and improve guest experience. The Central Reservation segment reflects the fastest CAGR due to the rising demand for centralized booking management, especially with the increasing usage of online travel agencies and dynamic pricing models.

Cloud deployment remains the primary model in the market, offering scalability, cost efficiency, and real-time data access across geographies. Hybrid deployment, combining on-premise stability with cloud flexibility, is the fastest-growing segment, providing scalability without complete reliance on the cloud. Hotels lead in end-use, seeking integrated platforms for better guest experience, while restaurants and bars segment adopt tech for point-of-sale and reservations management.

North America dominated the market in 2023, accounting for 37% of revenue share, driven by technology adoption and customer experience improvement. Asia-Pacific is expected to register the fastest CAGR, with support from government investments in tourism infrastructure and digital transformation. Recent developments in 2024 include Oracle Hospitality introducing new AI capabilities and Cloudbeds launching a SmartAutomation Suite.

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