June 27, 2016
By Anderson Conte

Pete Floros, Cvent’s Senior VP of Product Management, welcomed hotel professionals to day two of Cvent CONNECT 2016. Pete explained how group business is evolving faster today than any other time in the history of hospitality. He provided a sneak peak of Cvent’s product roadmap and how it will continue its role as an industry trailblazer. He focused on five key components that drive Cvent’s future objectives:

“90% of data available today was created two years ago, and that pace is only accelerating.”

1. Operating Metrics

Pete emphasizes that it is a great time to be a hotel professional. Momentum in the group business industry is not slowing down. Over four years, average ADR has jumped to $196 and the average meeting value has skyrocketed to $60K. Cvent has also noticed a spike in its RFP conversions: 300% on desktop and 500% on mobile.

2. Hospitality Cloud

Since last year, Cvent has integrated the Cvent Supplier Network (CSN), EliteMeetings.com, and SpeedRFP into one platform. This allows hotel professionals to manage only one login and password and have a more streamlined experience across channels. With the introduction of the Group Business Evaluator and GrPete Floup Business Trends, the Hospitality Cloud continues to make the sourcing process easier for hoteliers.

3. Product Recap

Jeff Emenecker, General Manager of Decision Street, speaks about Lead Scoring and its biggest benefits for the crowd. Made up of an RFP and a Hotel Fit Score, Lead Scoring brings some incredible benefits to the sourcing process. These benefits include prioritizing leads, moving them quickly through the funnel, and converting those that prove to be most profitable.

David Bailey, Director of Product Management, was brought to the stage to announce the launch of The Client Portal. It created a new generation of information sharing between hoteliers and their constituents. With a central RFP/Proposal Hub and 24/7 access, The Client Portal will provide a better way for hotel professionals to share results.

4. Product Road Map

Pete provided a sneak peek into what’s in store for the Cvent Supplier Network. It will undergo a massive responsive redesign to provide a better search experience. Along with a new look, it will integrate with Google and Bing, have cleaner interfaces, be more visually appealing, and provide a shopping experience feel. Pete also announced the integration of two new suppliers: Starwood Hotels and Resorts and Simpleview.

5. Business Intelligence

“90% of data available today was created two years ago,” Pete mentions as he wraps up his presentation. “And that pace is only accelerating,” he continues. It is no doubt that companies who can leverage data have a massive advantage over companies who cannot. Technology is evolving quickly, and it’s important for hotel professional to do the same.

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