|November 06, 2014|
Cvent Acquires Decision Street To Help Hoteliers Score Leads
|Cvent, Inc., a leading cloud-based enterprise event management platform, today announced the acquisition of Decision Street, an Atlanta-based hotel sales-intelligence software company. The purchase bolsters Cvent's initiative to add platform functionality that helps hoteliers better manage group business opportunities.|
Decision Street's technology will provide a holistic view of group demand and will empower hoteliers with data analytics - enabling hotel sales teams to quickly focus on the best group-booking leads within the context of inventory, demand, and profitability.
"For over seven years, the Cvent Supplier Network has been a trusted source for lead generation of group business for hotels. Increasingly, hoteliers are turning to us for technology that helps them manage that group demand while driving revenue and profitability," said Reggie Aggarwal, founder and CEO of Cvent. "We are meeting this demand by both building and buying technology. Decision Street -- with its Request for Proposals lead-scoring and sales-optimization technology -- is the type of company that fits well with our acquisition strategy. This new technology will help hoteliers be more efficient and work on the right opportunities, resulting in better conversion on more profitable business."
Aggarwal added that Decision Street's technology smoothly integrates into the Cvent platform and that the development company's focus on the hospitality sector made it a solid fit within the Cvent family.
"Group business can represent a third or more of the revenue for a hotel or venue, yet existing systems for managing and scoring group opportunities are complicated for the user and lack decision support," said Jeffrey Emenecker, CEO of Decision Street. "We have studied the problem and are building technology to make the hotelier's life easier so that sales teams can spend more time selling and make smarter group booking decisions."
Leveraging Cvent's Supplier Network, which Cvent believes is the largest and most accurate database of detailed meeting venue information, hoteliers can now better manage and score leads. In 2013, an estimated $6.5 billion of group meeting business was sourced through the Cvent Supplier Network, encompassing approximately 1.2 million total Request for Proposals. The Cvent Supplier Network currently contains more than 218,000 hotels and venues in more than 175 countries that can be searched and filtered based on more than 200 characteristics and data fields. Suppliers are able to reach new customers, including the tens of thousands of meeting planners who use the Cvent Supplier Network globally, thereby helping hotels maximize their existing sales and marketing resources.
Cvent, Inc. is a leading cloud-based enterprise event management platform, with more than 1,450 employees and more than 12,650 customers worldwide. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys. Cvent provides hotels with a targeted advertising platform designed to reach event planners looking for suitable venues. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events.