Meetings and events are widely viewed as the “last frontier” in the long quest by corporations to manage and control costs. Spend on small, simple corporate meetings, a $24 billion category in the $175 billion U.S. Meetings marketplace, account for two-thirds of the offsite meetings market. On average, these meetings involve fewer than 100 attendees. Most companies don’t know the costs or track the frequency of these meetings. Simple meeting policy guidance is generally minimal or non-existent. Booking methods are inconsistent and the booking process is manual and time consuming.
On the supply side, hotels and other types of meeting venues are challenged by the lack of automation to quickly fulfill requests for simple meetings. Most properties channel their energies on securing large conferences, which traditionally take over a year to plan, and miss out on the opportunity to fill their smaller meeting room facilities and associated guest rooms days, months or weeks ahead.