Industry Insights
The Hotel CRS industry has got a higher development in the past five years. The 2015-2019 CAGR of global market in terms of value was 16%. In 2019, the total value was 19 billion USD. In China, the CRS market developed more faster during 2014-2019. Chinese value reached 1232 million USD in 2019.
Nowadays hotel reservation online is commonplace. It is fast, efficient and time-saving. Computer Reservation System (CRS) is one of the most widely used tools in the Hotel and Hotel Business. In fact, it has revolutionized the whole industry. We use hotel booking services every day so often and easily that we even do not think of how complicated and long-developed the computer reservations online system is.
Since the spread of COVID-19 started accelerating earlier this year, the hospitality industry has seen a serious impact on both revenue and employment rates. The virus has all but shut down many hotels throughout the world. The coronavirus outbreak might be a dark cloud over the hotel industry now, but we anticipate that when the storm passes, we’ll see a rush of innovation and creativity coming from hotel technology companies. We knew that change was coming, and the pandemic looks to be the catalyst that will push the hotel industry toward more tech-forward and efficient operations. While hoteliers make decisions about layoffs and closures, hotel technology companies are grappling with emerging trends that will shape the future of the industry.
We believe that the Computer Reservation System (CRS) market will see a new growth trend in the coming years with its own technological innovations.
Product Insights
Computer reservation systems, or central reservation systems (CRS), are computerized systems used to store and retrieve information and conduct transactions related to air travel, hotels, car rental, or other activities. Originally designed and operated by airlines, CRSs were later extended for use by travel agencies. global distribution systems (GDS) to book and sell tickets for multiple airlines. Most airlines have outsourced their CRSs to GDS companies, which also enable consumer access through Internet gateways. Modern GDSs typically also allow users to book hotel rooms, rental cars, airline tickets as well as other activities and tours. They also provide access to railway reservations and bus reservations in some markets, although these are not always integrated with the main system. These are also used to relay computerized information for users in the hotel industry, making reservation and ensuring that the hotel is not overbooked.
The central reservation system is of greater help to the hotel staff as well as to the hotel owners.
1. Helps in managing the booking without any mistakes and conflicts. Though hotel carries Booking Engine(BE) and Channel Manager(CM) software, central reservation system resolves problems which can’t be handled with BE and CM.
2. CRS helps hotel owners and also hotel staff to not only make the reservation of the guest but also view the details across all the computers in the system thus eliminating the confusion and the booking problem.
3. Assist in forecasting and to get the overview of the total number of booking for a particular time period, see which is the busy season and which is the period when your hotel is getting less number of bookings.
4. One can handle all the hotel’s reservation from one single point unless all the systems are connected through the CRS software.
5. Helps in understanding the booking pattern and guides in developing a better customer relationship. The system possesses the ability to hold data and the information of the guest which can be easily retrieved. This helps the hotels in managing a long list of customers.
Regional Insights
In 2019, Europe remained the largest market for Hotel CRS Value, with a market share of 38.31 % followed by NA and Asia. NA consumes market share was over 25.84% of the global market in 2019.
Hotel Computer Reservation Systems (CRS) Market Share Insights
Key players in this industry include Pegasus, Sabre, Amadeus, SHR Windsurfer, IBC Hospitality, Technologies, Hotel-Spider, Busy Rooms, Omnibees, Kunlun and others.
Supporting destinations as they plan for recovery:
“We are supporting our travel advertising customers and partners. Our travel audience team has already launched the initiative Building a Pathway to Future Recovery, which builds a route for destinations as they begin to emerge from this crisis. Utilizing Amadeus’ unique data and insights we can provide a comprehensive overview of how destinations around the world are evolving throughout this uncertainty”.--- what Amadeus is doing during Covid-19.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2026. For the purpose of this study, XYZ Research has segmented the global sofa market report on the basis of product type, material, application and region:
Global Hotel Computer Reservation Systems (CRS) Market: Application Segment Analysis
Multi-property hotels
Single property hotels
Global Hotel Computer Reservation Systems (CRS) Market: Regional Segment Analysis
North America
Europe
Asia Pacific
South America
Middle East and Africa
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