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I previously wrote about how effective SiteMinder, one of the world’s best channel managers for accommodation providers, is at generating revenue and saving your operation money. Combining SiteMinder with revenue management software can take those revenues to the next level. Coming available later this summer will be one of the best options available on the market turbosuite. turbosuite is working on integrating fully with SiteMinder, but is still a powerful tool to use right now for your hotel, motel, or Airbnb vacation rental.

Before getting into how turbosuite integrates with SiteMinder and what it can do today, let’s first discuss what revenue management software is.

Revenue Management Software

Everyone reading this should understand what revenue management entails when being applied to the accommodation industry. There are five basic components to it: collecting the data about the operation and market; creating segments from the data to help analyze it more thoroughly; building revenue forecasts; planning and taking action; and analyzing the process and results to determine what can be improved upon. Revenue Managers would be doing each of those areas manually or creating simple automatic rules that their PMS would follow when settings rates and restrictions.

Revenue management software simplifies each component by using artificial intelligence to power it. No longer are revenue managers loading Booking.com and copying competitor rates into an Excel spreadsheet, or poring over their PMS data to see which rates are selling when. The software does the work for them. Revenue Managers still oversee each component and analyze the results to ensure everything is working as well as it should, however. Using the tool is not completely hands off and automated.

turbosuite

There are plenty of revenue management systems available and several of them integrate with SiteMinder. They all include the same basic functionality, so what makes turbosuite different?

There are two main differentiators that I can see:

1. All types of accommodations are analyzed
2. Analyze the full market, not a comp set

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To read the rest of the article and learn more about how turbosuite can help your accommodation, click the button below.

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