At HITEC 2024, Simone Puorto had a conversation with Sankar Narayan, CEO of SiteMinder. They discussed SiteMinder's evolution from a channel management provider to a broader smart platform integrating distribution, intelligence, and execution for hoteliers. This interview is part of our HITEC 2024 series, showcasing insights from leaders in hospitality technology.

Introduction and Company Overview

Sankar Narayan introduces himself as the CEO of SiteMinder, a global company serving over 40,000 hotels in 150 countries. SiteMinder is renowned for pioneering channel management solutions, but Narayan emphasizes that the company is now evolving beyond its original scope.

The Evolution from Channel Management to Smart Platform

Narayan explains that while SiteMinder started as a channel manager, it has grown to address the fragmentation and silos in hospitality technology. The company's journey now focuses on providing hoteliers with actionable insights to make timely decisions on various revenue solutions. This new approach integrates distribution, intelligence, and execution into a unified smart platform.

Dynamic Revenue Management

SiteMinder's new vision includes a concept called dynamic revenue management, which encompasses more than just price recommendations. It involves dynamic pricing, inventory, channels, and rate plans. This holistic approach allows hoteliers to respond to market conditions dynamically, maximizing performance.

Data Execution and Mobile Solutions

Narayan discusses the challenge of data paralysis, where the abundance of data overwhelms users. SiteMinder's solution is to simplify data execution through a mobile-first approach. The recently launched mobile product has been well-received, enabling users to manage and execute tasks directly from their devices. This mobile capability offers real-time insights, market condition alerts, and specific recommendations, allowing hoteliers to react promptly and efficiently.

Predictive Insights and Proactive Management

The conversation highlights the shift from reactive to proactive management. SiteMinder's platform aims to predict market trends and conditions, providing forward-looking insights that allow hoteliers to address potential issues before they arise. This predictive approach is crucial for effective revenue management and operational efficiency.

Tailored Solutions for Diverse Hotel Needs

SiteMinder's platform caters to a wide range of hotels, from small boutiques to large chains, across various geographies. The company leverages its extensive data and market insights to offer customized solutions that meet each hotel's specific needs. The focus is on making complex data understandable and actionable, ensuring hoteliers can make informed decisions and execute them seamlessly.

Future Directions and Industry Impact

Narayan envisions SiteMinder's role expanding beyond channel management to becoming a comprehensive execution platform. By integrating revenue management, execution, and insights, SiteMinder aims to transform how hoteliers manage their properties, driving efficiency and profitability.

Conclusion

Sankar Narayan's insights underscore SiteMinder's strategic evolution from a channel manager to a smart platform integrating distribution, intelligence, and execution. This shift addresses the complexities of hospitality technology, providing hoteliers with the tools to make informed, timely decisions. This interview is part of Hospitality Net's HITEC 2024 series, offering perspectives from leading figures in hospitality tech.

 

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