DATA INSIGHTS FOR YOUR WORLD
Suzanne Shogren Regional Director, Ownership Group Services
INTRODUCING CVENT HOSPITALITY CLOUD
WE PARTNER WITH HOTELIERS TO GROW PROFITABLE GROUP & CORPORATE TRAVEL BUSINESS
Marketing tools to attract new business
GROW
Digital Tools
to help you grow & own your business
OWN
Online Platforms aggregating billions in buyer spend.
Software solutions to maximize your revenue opportunity and efficiency
HOTELIERS’ BUSINESS LANDSCAPE
BUSINESS TRANSIENT
GROUP
LEISURE
BUSINESS TRANSIENT
GROUP
Bringing Digital Transformation to Group & Business Transient to help you succeed.
WHAT’S AT STAKE?
178 DAYS
$201
$50
300 MILLION + $117
MEETING ACCOMMODATION SPEND
MEETING ROOM 24NIGHTS
BILLIO N DAYS
VS
ADR GROUP
19%
4.9% VS
VS
LEISURE
JD Power & Associates and Smith Travel Research, CVENT Supplier Network Data
BOOKING LEAD TIME GROUP
LEISURE
Site minder, How Far Do Hotel Guests Book in Advance?; CVENT Supplier Network data.
CANCELLATION BUSINESS
LEISURE
Site Minder, How Far Do Hotel Guests Book in Advance?; CVENT Supplier Network data.
IS DIGITAL TRANSFORMATION A THREAT?
OTAs, Airbnb Challenge Hotels for Customers and Financial Value ▪
No Direct Customer Relationship
▪
Low-profit Channel
▪
Limiting Your Autonomy
WITH CVENT... DIGITAL TRANSFORMATION IS AN OPPORTUNITY
Access to Buyers Profitable Growth Greater Autonomy Direct Customer Relationships
ACCESS TO BUYERS
Marketing tools to attract new business
Digital Tools
Grow
to help you grow & own your business
Online Platforms aggregating billions in buyer spend.
Own
Software solutions to maximize your revenue opportunity and efficiency
ACCESS TO BUYERS: EVENT PLANNERS
82,000 ACTIVE MEETING PLANNERS
2.5
RFPS
14.7
$
MILLION
BILLION
40
MILLION
ROOM NIGHTS
RFP VALUE
ACCESS TO BUYERS: BUSINESS TRANSIENT
POWERING
80% OF THE TOP
10 10
TECH PHARMA HOSPITALITY
OF THE TOP
of Fortune 100 for Sourcing Corporate Programs
8 10
FINANCE OF THE TOP
7 10
ENERGY DEFENSE COMMUNICATION
MAXIMIZE THE VALUE OF YOUR CUSTOMERS
Marketing tools to attract new business GROW
Digital Tools
to help you grow & own your business
OWN
Online Platforms aggregating billions in buyer spend.
Software solutions to maximize your revenue opportunity and efficiency
DIGITAL TOOLS
OWN
GROW
Software solutions to maximize your revenue opportunity and efficiency
PROFITS
CUSTOMERS
Marketing tools to attract new business
PRODUCT PORTFOLIO: GROUP
LUXURY MARKETING
LIVE EVENTS LIVE EVENTS
LUXURY MARKETING COMPETITIVE MARKET ADS ADS
PASSKEY PASSKEY
LEAD SCORING LEAD SCORING
GROW SEARCHADS ADS SEARCH
RFP RFP OPERATIONS OPERATIONS
ANALYTICS ANALYTICS SPEEDRFP SPEEDRFP (White Label)
OWN
PROFITS
CUSTOMERS
BRAND BRAND MARKETING MARKETING
PRODUCT PORTFOLIO: BUSINESS TRANSIENT
GROW
RFP PUBLISHER • • • •
Proximity Report Business Cases Rate Manager Rate Publisher
OWN
PROFITS
CUSTOMERS
MARKET LEADS
YOUR OPPORTUNITY WITH CVENT ▪ Grow and own your group and corporate travel business ▪ Access huge buyer spend on our online platforms ▪ Use our digital tools to win customers and serve them profitably ▪ Partner with us to make digital transformation work for you
SO WHAT’S IN IT FOR ME?
GROUP BUSINESS INSIGHTS
WASHINGTON, D.C.
WASHINGTON, D.C.
$1,556,491,047 Sourced through Cvent Aug ‘17 – Jul ‘18
SLICING THE DATA FURTHER
93,687
~7.8k
257
RFPs received in the last 12 months
Per month
Per day
RFP SIZE | AUG ’17 – JUL ‘18
RFP Size
Percent Change
Large
3%
Medium
1%
Small
3%
LAST 27 MONTHS (US CVENT DATA)
73% Less than 50 Rooms
42% Growth in 2 Years
GROUP RFP CHARACTERISTICS | AUG ‘17 – JUL ‘18
Average Peak Room Nights
Average Room Nights
Average Event Duration
Average Attendees
162
552
4
274
Rooms
Rooms
Days
Attendees
(-3%) vs. Prior Year
(-3%) vs. Prior Year
(0%) vs. Prior Year
(-11%) vs. Prior Year
SHORTER TRIPS
Then
4 Nights
Now
25%
3 Nights
=
Reduction in room nights
DAYS PATTERN| AUG ‘17 – JUL ‘18
Days Pattern
Percent Change
Extended Stay
-7%
Weekday
3%
Weekend
3%
BOOKING WINDOW | AUG ‘17 – JUL ‘18
Booking Window
YOY RFP Percent
1-30 Days
-5%
31-60 Days
-2%
61-90 Days
4%
91-120 Days
-1%
121-180Days
6%
181-270Days
4%
271-365Days
7%
366+ Days
5%
AVERAGE AWARDED ADR
Brand Scale
AUG ‘17 – JUL ‘18
Luxury
$274
Upper Upscale
$200
Upscale
$188
Upper Midscale
$160
Midscale
$145
Economy
$79
Independent
$195
FUTURE PROPOSED ADR
ArrivalDate Washington DC 300.00 250.00 200.00
150.00 100.00 50.00
0.00 Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
ORGANIZATION TYPE OF RFPS | AUG ‘17 – JUL ‘18
Organization Type
YOY RFP Percent
Association
-6%
Corporate
10%
Education
5%
Government
-3%
Military
-16%
Non-Profit
-11%
Religious
-2%
Social / Leisure
2%
Other
-1%
TOP 10 COMPETING MARKETS – RECEIVED RFPS FL - ORLANDO DC - WASHINGTON TN - NASHVILLE TX - DALLAS / FORT WORTH
MARKETS
FL - MIAMI CO - DENVER GA - ATLANTA IL - CHICAGO MA - BOSTON
PA - PHILADELPHIA MD - BALTIMORE 0
2000 500
1000
1500
SUM OF RECEIVED RFPS
2500
3000
TOP 10 COMPETING MARKETS – AWARDED RFPS DC - WASHINGTON FL - ORLANDO IL - CHICAGO
MARKETS
TX - DALLAS / FORT WORTH GA - ATLANTA CO - DENVER TN - NASHVILLE FL - MIAMI MA - BOSTON
PA - PHILADELPHIA MD - BALTIMORE 0
50
100
150
200
250
300
SUM OFAWARED RFPS
350
400
450
500
CVENT’S TOP 5 TIPS TO OPTIMIZE AND EXECUTE
#1 – GET SEEN: OPTIMIZE YOUR PROFILE ▪ 45% of venues on Cvent have profile completeness scores of 90% or greater
▪ These venues receive 78% of the total RFP volume and 82% of all RFPs awarded
#2 STAND OUT: BEST PRACTICES FOR GROUP SALES SUCCESS ▪ Target specific groups of planners ▪ Add value to supplement overall branding efforts ▪ Time your offers to drive revenue over need periods
▪ Inspire planners with your unique offerings
#3 – RESPOND BETTER: BEST PRACTICES FOR PROPOSALS 1. Create a profile to attract the business you want 2. Mark an RFP In Progress to start communicating with the planner 3. Start and End Strong 4. Apply default costs and responses
5. Look out for alternate date opportunities
#4 KNOW YOUR DATA: HOTELS HAVE THE POWER OF DATA !
KNOW YOUR DATA
FOCUS ON THE CONTROLLABLES: BENCHMARKS
<60% >50%?
0%?
Bid Rate
Turn Down
TD w/Flex Dates
<95%
<95%
0%?
Response Rate
Response in Time
No Response
#5 RESPOND TO MORE: 58% OF ALL RFPâ&#x20AC;&#x2122;S GO TO FIRST 3 RESPONDERS
Provide a comparison against the hotelâ&#x20AC;&#x2122;s group comp set across a number of performance metrics
BUSINESS INTELLIGENCE
Competitive Set Dashboards
Takes action and improve your likelihood to win business Enables drill down capability on time periods, segments, geographies, etc., often down to RFP level Online tool developed for hotels only, real time data Key metrics
Measuring Demand Pricing Trends
Decline Assessment Competitive Analysis
CHANGE HOW YOU: Approach Marketing ▪ Visibility, Investment, ROI
Optimize Sales ▪ Responsiveness, Engagement
Use Data ▪ Incredible Insights
TAKE AWAY â&#x20AC;&#x201C; PLANNER SOURCING
THANK YOU