AusLeisure

Sydney-headquartered SiteMinder, a leading open hotel commerce platform, has unveiled ‘Dynamic Revenue Plus’ – offering a solution for hotels to both access live market intelligence and take immediate action on their bookable inventory, pricing and distribution strategy.

The unified solution will see any hotel be able to 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.

The launch of Dynamic Revenue Plus comes amid rising international travel and a booming events industry, which are boosting hotel economies around the world. SiteMinder’s data shows that the upcoming Coldplay tour in Australia, for example, will see hotel bookings jump 168% and 125% in Melbourne and Sydney, respectively. In response, the solution gives users the most complete event information available in the market, along with insight into future demand surges. This capability will allow hotels to capitalise on changing travel flows, events and other critical revenue opportunities at a speed not available until now.

Fready Goenawan, Revenue and Distribution Manager AU at Ovolo Hotels added "the notifications we receive through Dynamic Revenue Plus mean we no longer have to search for this information on the Internet; it's provided to us. They will replace the holidays calendar that we manage manually, and save our team a lot of time. Additionally, the insights we're using for our studies on geographical markets are amazing. They don't exist in other systems. Using SiteMinder's platform, we can see right away which countries are returning to our hotels. We can also break down the data to see performance metrics such as length of stay so we can roll out a new promotion to suit. When you're trying to maximise revenue, you need to know the markets that your income is coming from so you don’t splash your marketing budget everywhere. Having information by destination market is also wonderful, as it's important to know if we're ahead or behind the pace of the market. SiteMinder's solution is very powerful in this way."

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.

Dynamic Revenue Plus is powered by the data within SiteMinder’s platform, which stems from an unparalleled 120 million annual hotel reservations that give users of Dynamic Revenue Plus the most comprehensive data available, including top source markets.

Soon, it will be enhanced with dynamic pricing recommendations from IDeaS, a SAS company and the world’s leading provider of revenue management software and services. 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.

Klaus Kohlmayr, Chief Evangelist and Development Officer at IDeaS notes “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.”

Dynamic Revenue Plus was conceived in late 2023 to mirror the convergence of distribution, revenue optimisation and market intelligence strategies that SiteMinder saw taking place at hotels globally to drive a commercial mindset across hotel departments.

Available initially to hotels in Australia and New Zealand with all other markets to follow in 2025, Dynamic Revenue Plus is a key pillar of SiteMinder’s Smart Platform strategy – the manifestation of SiteMinder’s mission of making sophisticated revenue management accessible to every hotel in the world.

Leah Rankin, Chief Product Officer at SiteMinder shared “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. Additionally, its mobile-first approach and unique ability to provide insight into future levels and timings of demand mean hoteliers can adapt with the market. Truly, 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.”

Hotels can register their interest for Dynamic Revenue Plus here.

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