Skift Take
The Hotel Tech Benchmark dashboards and reports react to a dire requirement from hoteliers, tech vendors, and financiers alike. Comprehending the makeup of hotel tech classifications, and identifying growth opportunities, will assist the industry drive its relocation towards digitization.
Wouter Geerts
The space of hotel innovation is growing, however likewise frequently misconstrued.
Growing because the pandemic has driven home as soon as again the need for hotels to have very first rate innovation to enhance the guest and personnel experience. The beginning of the pandemic saw a run on the adoption of contactless innovation like messaging services, in-room buying, and online check-in, which likewise enhanced keyless entry systems. According to a recent survey by Skift and Oracle Hospitality, these technologies are now expected by lots of hotel guests.
< img src =" https://skift.com/wp-content/uploads/2021/11/contactless-tech-1024x465.png" alt ="" width =" 768 "height= "349"/ > However as stated, the hotel tech area is likewise frequently misinterpreted. It is a space where popular legacy brand names compete with hosts of start-ups, where each vendor is trying to find its niche by using a set of options that requires to fit into the hotel tech stack. The hotel market is exceptionally fragmented and profoundly differed in the service levels and facilities used, which need bespoke tech stacks for nearly every hotel. Many hotels use anywhere from 10 to 50 tech suppliers and systems to be able to run efficiently.
A new information tool by Skift Research study, called the Hotel Tech Criteria, is released today to use clarity in this convoluted area. Skift Research has actually done extensive outreach to hotel tech vendors to take part in this new tool.
The data control panel will address some important questions:
- What is the yearly profits created from each hotel tech category?How lots of hotels make use of specific technologies?How valuable is the total existing and addressable market? Where do growth chances lie?What are the most essential earnings streams
- for tech vendors? Which are the biggest
- suppliers in each category, and what market share do they
- have?How do suppliers distinguish themselves from their rivals? Today we are launching the first control panels, that include data for the Home Management Systems( PMS)
and Earnings Management Systems (RMS), solely available to Skift Research subscribers. More tech categories will follow. Sign Up For Skift Research Study Understanding the PMS Tech Category Skift Research study will also be releasing specific reports
for each classification, which are offered for specific purchase. The very first report, Hotel Tech Standard: Residential Or Commercial Property Management Systems 2021, providing data insights into the PMS classification, is now available. The report is the most total supplier landscape and market sizing for the PMS sector. With yearly profits of$ 4.5 billion, this is the largest hotel tech category, but it
is likewise exceptionally fragmented. There is a lot to eliminate for. Our analysis covers the largest 87 PMS vendors
. There are a few big players, with the top 10 suppliers accounting for 34 percent of the total market in regards to rooms, but after that, market shares become far more fragmented. The next 15 suppliers include another 12 percent of market share, and the 25 suppliers after that( making up the leading 50) only add another 7 percent market share.< img src=" https://skift.com/wp-content/uploads/2021/11/5-1024x482.png" alt="" width=" 768" height=" 362"/ > Much more insights can be discovered in the report, consisting of market
shares for all 87 PMS suppliers, based on the quantity of hotels and spaces they service, market share divides by 3rd party and hotel brand name proprietary systems, and a breakdown of profits streams for third-party vendors. Sign Up For Skift Research Study