Cvent to Drive $2.5 Billion in Unique Group Business to Hotels in 2010; Expects to Grow to $4 Billion in 2011
McLean, VA — November 08, 2010 - Cvent, the world's largest provider of online event management and meeting site selection solutions, will drive $2.5 billion worth of unique group business to hotels and special event venues through the Cvent Supplier Network (CSN) in 2010. In Q3 2010 alone, as meetings demand returned, meeting planners sent close to $700M in unique Request for Proposals (RFPs) through the system. The company expects almost $4 billion in unique group business to flow through CSN in 2011.
"Some of our projected growth for 2011 will come from the meetings industry recovering, but the majority will be due to the fact that CSN is increasingly becoming the sourcing platform of choice for the meetings industry," said Chuck Ghoorah, Cvent's Co-Founder and Executive Vice President of Sales and Marketing.
The Cvent Supplier Network is a free, online meeting site selection and electronic Request for Proposal (RFP) tool, and the leading source of group business for hotels and special event venues around the world. With detailed profiles of more than 100,000 hotels and event venues worldwide, the Cvent Supplier Network is the largest and most comprehensive meeting and event site selection tool. Adoption of the system is consistently increasing among large corporations, in particular, with a significant number of the Fortune 1000 sourcing meetings through CSN.
Founded in 1999, Cvent is the world's largest meetings and event management technology company and has 1,400+ employees worldwide. Cvent offers web-based software for online event registration, meeting site selection, event management, mobile apps for events, e-mail marketing and web surveys, and helps more than 10,000 clients in 90 countries manage hundreds of thousands of events, surveys and e-mail campaigns. Cvent's client base includes corporations from every major industry, associations, universities, and non-profit organizations. For more information, please visit www.cvent.com, or connect with us on Facebook, Twitter or LinkedIn.