Investment Company Institute Success Story
The Investment Company Institute (ICI) is the leading association representing regulated funds globally.
Hotel Room Booking Problem
ICI hosts a number of professional development conferences each year, drawing upwards of 1,400 investment professionals to stay current on issues affecting funds and their investors. Managing housing for that many people can be a challenge, which is why ICI purchased a Cvent Passkey license to take their room block management online.
In preparing for their annual conferences, the Investment Company Institute set ambitious goals to improve experience of their attendees. They wanted to ensure their attendees could find the right room – at the right rate – without going outside the contracted room block. At the same time, ICI wanted more control over their group block and sub-blocks, while maintaining high standards for reporting on booking pace, pick-up and progress.
The Key to a Better Booking Experience
As their events moved to new cities and hotels, ICI wanted to ensure that their attendees’ experience remained simple and consistent. With Cvent Passkey, ICI can easily build event-branded booking websites that their attendees will recognize time and time again. Passkey’s flexible websites are quick to set up and easy to manage, which means that ICI’s event manager can spend less time on administrative tasks and more time improving the attendee experience.
Cvent Passkey also allows ICI to better cater to their attendees’ rooming needs. Passkey supports group blocks and sub-blocks – within a single hotel or across multiple properties – allowing ICI to allocate blocks for key attendee groups. Attendees of all types get the room that’s right for them, at the right rate, without the hassle of manual rooming lists.
And by partnering with Passkey-integrated hotels, such as Marriott, guest bookings flow directly into the hotel’s PMS. Attendees instantly get their real confirmation numbers, hotels spend less time entering bookings into their system, and everyone saves time that used to be spent correcting data entry errors.
Respond to Real-Time Booking Data
No more waiting for Monday pickup reports. Cvent Passkey gives ICI real-time data on pickup rate, so they can course correct on the fly. When managing blocks across multiple properties, Passkey business rules help ICI to promote the hotels where pickup may be lagging and attrition is at a higher risk. And SmartAlerts in Cvent Passkey sends automated emails to keep the ICI planning team – as well as their corporate stakeholders – up to date on pickup risks or potential overbookings.
ICI's Future with Cvent Passkey
Planning for the next event gets easier each time for the ICI team. With Passkey’s pace and pickup reporting, they can easily track and analyze their year-over-year bookings data. That way, they know they’re contracting the right number of rooms in the right blocks. ICI can also more accurately predict what shoulder nights and room upgrades their attendees will want. They can compare their booking performance against booking behaviors at similar hotels in prior years and can keep their executive stakeholders aware of their progress.