The explosive popularity of online guest reviews on numerous review platforms has made it imperative for hotels to adopt reputation and review management software to benchmark guest satisfaction. This tech category has observed growth in the last decade and has the potential to generate $1.3 billion in annual revenues.
Online guest reviews on public platforms such as TripAdvisor, Booking.com, Expedia, Google, and so on disrupted the traditional comment card surveys that were once a popular mode of capturing guest feedback in hotels. Reputation and review management software facilitates quantifying of guest satisfaction and identification of areas of improvement which has made adoption of this tech solution imperative for hotels.
According to the data insights shared in our new report, Hotel tech Benchmark: Reputation and Review Management 2023, about 43% hotels worldwide, representing approximately 45% of global hotel room supply have a reputation and review management system as a part of their tech stack which allows them to manage their public perception as well as benchmark performance.
While there are companies that fully focus on providing a reputation management solution to hotels, there are a few that cater to multiple industries. Market penetration into the hospitality industry is largely concentrated across the Top 10 vendors.
The latest report by Skift Research provides an overview of the market size and growth potential of reputation and review management software in the hospitality industry.
What You’ll Learn From This Report
- Current and future growth potential of Reputation and Review Management Software
- Total market penetration
- Top Vendors market penetration
- Revenue distribution for vendors
- Total market penetration for vendors based on total number of hotels and rooms they service.
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: future of lodging