Meetings technology company Cvent has acquired Decision Street, an Atlanta-based maker of hotels sales-intelligence software, it announced yesterday. The acquisition adds functionality to the Cvent Supplier Network -- Cvent's online marketplace of meeting venues -- and will help hoteliers better manage group business opportunities.
"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," Cvent Founder and CEO Reggie Aggarwal said in a statement. "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."
According to Cvent, Decision Street's technology will provide a holistic view of group demand within the Cvent Supplier Network and provide hoteliers with data analytics so their sales teams can focus on the best group-booking leads within the context of inventory, demand, and profitability.
"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."
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