Cvent Acquires Wedding Spot to Provide Hotels and Venues Direct Wedding Business
Acquisition empowers properties to tap into the $100 billion wedding market to grow group business revenue
TYSONS, Va.— May 22, 2019 - Cvent, a market-leading meetings, events, and hospitality technology provider, today announced that it has acquired Wedding Spot™, a leading wedding venue sourcing platform. More than 12,000 special event venues and hotels utilize Wedding Spot to attract wedding business to their properties. Cvent acquired Wedding Spot to bring additional group business opportunities to the more than 260,000 hotels and venues that currently utilize the Cvent Supplier Network™, further accelerating Cvent’s product roadmap and global growth in the hospitality sector.
Founded in 2013 in San Francisco, Calif., Wedding Spot offers its more than 12,000 venues across the U.S. direct access to couples looking for their wedding venue. Within the Wedding Spot platform, couples can quickly source and compare their preferred locale. Venues leverage Wedding Spot’s unique Spot Estimate™ feature to further qualify these leads to help drive quality business to their properties.
The Cvent Hospitality Cloud offers group marketing, sales and operations solutions to help venues connect with buyers, attract and win more group business, and deliver great event experiences. By acquiring Wedding Spot, Cvent now offers an additional channel for special event venues and hotels to attract wedding business. Each year in the United States, couples spend $100 billion on weddings, and these special events represent up to 20% of group business for hotels. With more than 200,000 requests processed through Wedding Spot each year, current Cvent Hospitality Cloud clients can utilize the Wedding Spot platform to connect with these buyers and grow their group business revenue.
“Cvent has led the digital transformation of the meetings and events industry, and we are thrilled to continue the Wedding Spot journey with them,” said Yotam Soen, general manager of Wedding Spot. “Cvent continues to find new and better ways to bring event buyers and venues together, which aligns with our mission at Wedding Spot. We’re looking forward to continuing to work with all of our customers as part of Cvent.”
“Over the past 20 years, we have powered the global meetings and events ecosystem, connecting event professionals with hotels and venues to help them grow and own their business,” said Reggie Aggarwal, CEO and founder of Cvent. “With Wedding Spot, we can offer new ways for our hospitality customers to tap into the $100 billion wedding industry while also expanding our venue sourcing options with thousands of unique special event venues across the United States. We continue to broaden our platform and offerings to support our customers’ needs, and we are excited to welcome the Wedding Spot team to the Cvent family.”
Cvent Holding Corp. (Nasdaq: CVT) is a leading meetings, events, and hospitality technology provider with 4,800+ employees and 21,000+ customers worldwide as of March 31, 2023. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the event management lifecycle and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com. From time to time, we plan to utilize our investor relations website, investors.cvent.com, as a channel of distribution for material company information.
About Wedding Spot
Wedding Spot simplifies the process of finding a wedding venue by providing more than just an online directory. Working directly with venues, Wedding Spot gathers all the information allowing newly engaged couples to find venues based on budget, location, style, and guest count. Users can "build out" their ideal wedding day by selecting guest count, wedding date, and specific services and options to receive an instant online price estimate and book a venue viewing appointment with one click of a button. Wedding Spot offers wedding venues tools to manage the entire wedding booking process, including acquiring customers, organizing content, and marketing inventory. Launched in August 2013 and currently partnering with over 12,000 venues in the U.S., Wedding Spot has helped millions of couples find their wedding venue.
Wedding Spot was a wholly owned subsidiary of HoneyBook, the leading business and financial management platform for solopreneurs and freelancers. Founded in 2013, HoneyBook is based in San Francisco and funded by Citi Ventures, Norwest Venture Partners, Aleph, Vintage Investment Partners, Hillsven Capital and UpWest Labs. Learn more at honeybook.com.