Skift Take
Understanding the customer is becoming increasingly important to hoteliers, and so-called CRM systems can help capture guest data and automate interactions to improve guest conversion and retention. For now, however, CRM remains a tool mainly used by larger hotels.
About 20 percent of hotels worldwide, representing an estimated 32 percent of hotel-room supply, are using a customer relationship management (CRM) tool to better manage potential and current guest interactions, according to the latest data insights from the Skift Research Hotel Tech Benchmark.
Customer relationship management systems typically use data analysis to study large amounts of information about hotel guests. CRM systems compile data from a range of different communication channels, including the hotel’s website, phone, email, live chat, marketing materials, and social media. These systems allow hotels to learn more about their target audience and how to best cater for their needs, thus retaining customers and driving sales growth.
Increased demand for CRM systems by hotel owners, including small and independent hotels now, and a rising number of CRM vendors in the market, shows that the role of CRM in hotels has evolved considerably over the years.
The CRM vendor landscape is diverse. While there are a number of specialist companies that are fully focussed on offering hotel specific software, there are others that cater to different industries and provide CRM solutions as part of overall product offering.
The latest report by Skift Research provides an overview of the latest trends in the CRM space, sets out the current and potential market expansion, and lists the largest CRM vendors.
What You’ll Learn From This Report
- Total annual revenues for the CRM tech category
- Growth potential for the category, expressed in U.S. dollars
- Market shares for 22 CRM vendors, based on the amount of hotels and rooms they service
- Revenue distribution for third-party CRM vendors
- Hotel brand proprietary systems
This is the latest in a series of reports and data products that Skift Research puts out. The Hotel Tech Benchmark is a data product exclusively available to our Research subscribers, offering insights in market sizes, revenue streams, and vendor landscapes for the major hotel tech categories.
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Tags: cendyn, hotel CRM, hotel tech, hotel tech benchmark, revinate, salesforce, skift research