Hotel channel management is the process of planning and managing the availability of hotel rooms and room rates online, an essential in today’s digital age. The technology not only makes the selling of hotel rooms easier but also helps in inventory management.
One of the biggest benefits of employing hotel channel management is that if the rates or any other status is updated, the updated status is immediately visible, avoiding unnecessary hustle.
Managers can also seamlessly integrate any other management system like the revenue management system, and the booking engine as well.
The market of this has accumulated a valuation of US$ 687 million in 2022, and it is predicted to reach a market valuation of US$ 1,618.23 million by 2033, growing at a steady CAGR of 8.1 percent from 2023 to 2033.
Technological bloom and the rapid penetration of the internet are anticipated to increase the demand for hotel channel management.
In 2022, South Asia and the Pacific along with East Asian countries altogether accounted for a significant market share of 34.2 percent due to rapid technological advancement and urbanisation, leading to an increase in disposable income.
In North America, where the travel and tourist business is more developed, there is a considerable need for hotel channel management systems, which as of last year had a market share of 24 percent.
Significant advances in the hotel channel management industry include the eRevMax which earned Hotel Tech Report’s Level I Global Customer Support Certification (GCSC) for its investments in tools, processes, and strategies, while InnQuest’s ‘roomMaster’ achieved Hotel Tech Report’s level III Global Customer Support Certification (GCSC).