Passkey — maker of the popular GroupMAX platform, used by destinations, hotels and planners to manage the group reservation process — achieved over $1 billion in hotel revenue for its clients in the first quarter of 2012, it announced yesterday. That's up 35 percent from the same period in 2011, and four times faster than the company's pace in 2009, when it took it a full year to reach the $1 billion mark.
"Reaching the $1 billion mark in just one quarter confirms the appeal and value of our system, and accentuates the confidence hoteliers, destinations and meeting planners have in our technology," said Passkey President and CEO Greg Pesik. "We will continue to push the threshold, providing our clients more ways to drive their operational costs down and drastically increase their revenues and profits."
Based on its momentum so far this year, Passkey now expects to power more than 150,000 events in 2012.
Critical to this rapid growth, the company said, is GroupMAX's ability to generate incremental revenue for hotels and event organizers from their group-contracted room blocks. Today, it pointed out, hotels and events using GroupMAX experience revenue increases upwards of 4 percent by marketing upgrades, extended stays and other services directly to group guests.
"We are going on year three with GroupMAX and have found that its up-selling features provide unlimited capabilities," said Melanie Lisena, director of reservations at the New York Marriott at the Brooklyn Bridge. "By customizing up-sell offers with hotel amenities such as romance packages or in-room breakfast options, we have generated over $100,000 in incremental revenue from our groups."