You can literally manage as much as you want.  The basic SmarterCMS system is set up to allow you to manage the following:

Tour & Travel Version:

Tours, Tour Highlights, Short & Long Tour Descriptions, Special Offers, Press Releases, FAQ's and more.

Real Estate Version:

All listings (commercial & residential), All Property Descriptions, New Listings, Special Listings, Press Releases, FAQ's and more.

Custom Versions:

Custom is just that, custom - so anything you want, from intranets to extranets to any website component.