Hotel distribution and revenue platform SiteMinder ushers in a new era of revenue management for hotels as it launches Dynamic Revenue Plus, the only solution for hotels to both access live market intelligence and take immediate action on their bookable inventory, pricing and distribution strategy.
Unlike revenue management systems that have traditionally been accessible to a limited number of hotels, the dual capability within Dynamic Revenue Plus means any hotel can, for the first time, use one, mobile-first system to optimise their revenue based on market demand.
Powered by the data within SiteMinder’s platform, which stems from an unparalleled 120 million annual hotel reservations, Dynamic Revenue Plus gives users the most comprehensive data available, including top source markets.
SiteMinder chief product officer Leah Rankin said: “While market intelligence is not new, Dynamic Revenue Plus by SiteMinder is unique among existing solutions for the capability it offers hoteliers to not only consume insights but to take multiple actions, beyond pricing changes, within minutes.”
Rankin added that the solution’s mobile-first approach and unique ability to provide insight into future levels and timings of demand mean hoteliers can adapt with the market.
A dynamic team-up
SiteMinder executives add dynamic pricing recommendations from IDeaS, a SAS company and the world’s leading provider of revenue management software and services, will further enhance the solution’s functionality.
The built-in combination of IDeaS’ dynamic pricing strength and SiteMinder’s distribution platform with deep market intelligence will provide powerful revenue management capability and speed-to-market to hotels of any size, including the most resource-strapped. To date, these have been accessible only as separate solutions and limited to hotels with dedicated revenue management resources.
Using the unified solution, any hotel can now move away from traditional, static revenue management practices, characterised by slow and irregular changes, to a more dynamic approach that involves frequent adjustments to revenue strategies in response to market fluctuations.
Examples of changes include bulk room rate updates, new minimum base rates and lengths of stay, sale restrictions, inventory adjustments and new marketing promotions, which can all be done on mobile as well as desktop.
Rankin said of this unified solution: She said: “Dynamic Revenue Plus is the first of its kind and, together with the team at IDeaS, we at SiteMinder are delighted to make it available for all hotels looking to make the critical shift to dynamic revenue management and drive significant growth in revenue.”
IDeaS chief evangelist and development officerlikewise remarked: “We’re committed to democratising revenue management and bringing the benefits of dynamic, demand-based pricing to hotels across the globe. This partnership provides another viable option for hotels of all resources and operating models to stop leaving money on the table due to outdated manual revenue management practices and tools.”
