Global Hotel Booking Engine Market – Introduction
- A hotel booking engine is a software or tool which is used to safely process online reservations. The main purpose of a hotel booking engine is to enable reservations to be made either through a hotel’s website or third-party websites.
- A hotel booking engine helps users to save time with an easy & rapid booking set up. Hotel booking engine eliminates the manual or traditional entry system with immediate integration and provides multi-language capabilities & currency options to attract international tourists.
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Technological advancements in the hospitality industry is driving global
- Technology advancements play a significant role in the operations of hotel management. Technology is advancing quickly and individuals are shifting toward the more net-savvy options. The hospitality industry has observed an increasing demand for Online Travel Agents (OTAs) who offer wide-ranging reservation services for booking holidays. People prefer hotel booking engines to search, browse, and book their stays for a holiday. Hotel booking engine are becoming easier thanks to online tools that enable tourists to book their vacation and easily plan their holiday, thus saving their time and energy efficiently. This engine/platform offers information on various hotel service providers and customer reviews about the services they provide. It also enables customers to compare different packages of accommodation and quality of the services offered by hotels.
- Hotel booking engine can easily handle relevant data over a booking widget that significantly helps users to manage their operations, improves cost efficiency, and effortlessly increases productivity.
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Challenges in managing online booking cancellations expected to significantly hamper the hotel booking engine market
- Various single platforms offer online booking cancellation choices to customers that are too complex to handle. The process of online booking cancellation sometime involves several steps and it takes up considerable time of the user. Therefore, challenges in managing the online booking cancellation process is expected to significantly hamper the hotel booking engine market.
North America to hold major share of the global hotel booking engine market
- In terms of region, the global hotel booking engine market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global hotel booking engine market during the forecast period due to rising interest among people to experience adventure & entertainment in different countries. Europe is estimated to be the second largest market for hotel booking engines from 2019 to 2027 due to increasing technological advancement which has enabled online booking platforms to more easily offer reservation systems to users, which is likely to help in the growth of the hotel booking engine market in the region.
- Asia Pacific is projected to be a rapidly expanding region in the global hotel booking engine market during the forecast period due to quick adoption of cloud-based booking solutions such as PMS and other SaaS platforms to enhance their growth in the hospitality industry. This is expected to increase the adoption of hotel booking engines in the region.
Global Hotel Booking Engine Market – Competition Landscape
- In April 2019, DJUBO introduced a new feature release - AgentConnekt in its booking engine platform. This new feature helps to provide more efficiency while booking hotels online. The product initiative would help the company to improve its product portfolio to attract more customers worldwide.
- In May 2016, eTravos made a partnership between Hozbe, introduced user friendly booking engine for travel and hotels industry to simplify online booking experience across India. The product launch would help the company to enhance its market presence specifically in India to improve customers.
Key Players Operating in the Global Hotel Booking Engine Market
- eZee Reservation
- AxisRooms Travel Distribution Pvt. Ltd.
- STAAH Limited
- AsiaTech Inc.
Global Hotel Booking Engine Market: Research Scope
Global Hotel Booking Engine Market, by Solutions
Global Hotel Booking Engine Market, by End-user
- Travel Agencies
Global Hotel Booking Engine Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.