Smart hospitality is an advanced technology attribute that optimizes conventional hospitality services with the amalgamation of Internet of Things (IoT) and networking technologies to enrich the guest experience and elevate internal functions. Smart hospitality helps operators utilize an optimum amount of resources, such as hotel premises, inventory, energy, surveillance cameras, and guest rooms & its control with the help of various software & services. The hospitality industry has significantly emerged over the time from telephony system and television in rooms to room automation, real-time collaboration, centralized control, and infrastructure management. However, upcoming trends, such as the cloud-based analytics platform would utilize analytics capabilities to recognize the behavioral patterns of guests, for operators to take precise decisions.

Vendors who fall into this category receive high scores for most of the evaluation criteria. They have strong and established product portfolios and a very strong market presence. They provide mature and reputable data integration tools and have strong business strategies.

They are established vendors with very strong business strategies. However, they offer less products in the market. They focus on a specific type of technology related to the product.

Innovators are the vendors who have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have very strong growth strategies for their overall businesses.

The emerging players specialize in offering highly niche solutions and services. They do not have strong business strategies as compared to the established vendors. Smart Hospitality Software Market By Type HOTEL OPERATION MANAGEMENT SYSTEM The hotel operation management system integrates all hotel systems and subsystems data and information into a single platform that maximizes the operational efficiency. The system provides real-time status information on all hotel facilities through a consolidated platform. It helps hotel managers to create a complete central office from which one can control and manage housekeeping, front desk, food & beverages, workforce, revenue, and maintenance. The system provides solutions for smooth routine operations through the analysis of real-time status of all the hotel facilities and infrastructure. This system ensures negligible operation disruptions through centralized control and management of hotel infrastructure, guest service, inspections, quality monitoring, hotel booking, inventory, and employees. The major advantage of the solution is that it helps to avoid unwanted activities or accidents by real-time monitoring of all the hotel activities involved on a daily basis. The leading organizations offering hotel operation management system solutions are NEC, Honeywell, Siemens, IBM, Cisco, and Schneider Electric STAFF MOBILITY AND WORKFORCE MANAGEMENT In order to increase the working efficiency, staff mobility and workforce management solutions are being deployed. Workforce management solution encompasses all the activities needed to maintain a productive workforce. The solution provides the entire employee data, along with the reporting structure for better workforce optimization. Staff mobility solution allows real-time collaboration among staff and enables access to information and applications. This involves payments & benefits, human resource planning, training & development, talent management, time keeping & attendance, recruitment, workforce tracking & emergency assist, performance management, and forecasting & scheduling. It improves the business activity by managing staff or employee scheduling. The solution ensures significant cost reductions, improved employee productivity, reduced risk, effective employee engagement, and data security, while saving enormous amount of time and improving performance. INVENTORY AND LOGISTICS MANAGEMENT Inventory management is the practice of controlling and managing the orders, storage, and use of hotel inventory. It keeps track of the quality and quantitative aspects of the goods. Logistics management is a part of supply chain management that assists the movement of required goods. Inventory and logistics management software is a computer-based system for tracking current stock, pending & delivered orders, and sales & distribution. The solution features asset tracking, wherein a product located in a warehouse can be traced using RFID, barcode, or wireless technology. The new-age inventory and logistics management software is supported by cloud-based solutions, which are extensively adopted by hotel management authorities. The major benefits of the software include cost effectiveness, increased efficiency, warehouse/distribution organization, real-time data availability, and data security.