Jefferies sees pivot to revenue platform driving growth in Australia's SiteMinder

SiteMinder

24/09/2025 04:55

Updates

** Jefferies says SiteMinder's SDR.AX transition from a channel manager to a global revenue platform could unlock significant growth, driven by new Smart Platform products like Dynamic Revenue+

** Adds, the strategy enables the hotel management software provider to take a clip of transaction value, expanding its total available market while enhancing unit economics

** Brokerage highlights the transition has so far preserved  financial discipline

** SDR's valuation remains attractive, trading on 7.5x FY26 enterprise value to sales vs 9.4x for peer Megaport MP1.AX - Jefferies

** Shares down 0.4%, trimming YTD gains to 19.9%

 (Reporting by Kumar Tanishk and Shruti Agarwal in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))