SiteMinder is widening its remit to offer revenue management capabilities to its hotel customers.
The company is launching Dynamic Revenue Plus initially in Australia and New Zealand, following a pilot phase in different markets, but plans to offer the technology globally next year.
Leah Rankin, chief product officer for SiteMinder, said the company had seen hotels with in-house revenue managers already using its technology to “implement revenue management strategies.”
She added that platform users said they were already seeing a revenue uplift from implementing strategies directly within the SiteMinder platform.
“We felt the evolution of SiteMinder was beyond distribution, but actually this convergence that we’re seeing between distribution, revenue optimization and market intelligence and bringing that all together, we felt was a new era of revenue management and something we could unlock for hotels.”
Rankin also said that SiteMinder views the technology as complementary to the existing revenue management specialists in the market because it aims to go “beyond price. It’s looking at other ways that you can implement revenue strategies to get the right guests at the right price through the right channel.”
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Going forward, Dynamic Revenue Plus will also offer dynamic pricing recommendations from IDeaS.
“By combining SiteMinder’s powerful market intelligence with IDeaS dynamic pricing expertise, Dynamic Revenue Plus offers hotels a comprehensive and user-friendly solution that can help them optimize their revenue strategies,” said Klaus Kohlmayr, chief evangelist and development officer at IDeaS.
“In today’s rapidly changing market, hotels need to be able to quickly adapt their pricing and distribution strategies to capitalize on opportunities and mitigate risks.”
He added that the mobile-first solution would level the playing field and “empower hotels that have often stayed away from traditional revenue management solutions.”
Meanwhile, Rankin said the technology would enable revenue managers or even hotels without the resource to respond to real-time market demands.
“Something can happen and the importance of being able to have those insights, to be able to understand what you should do with those insights, what actions you can take to drive the right outcome to your hotel is something we have built in as part of the solution.”
