Recent posts have focused on how searching and shopping for meeting venues feels stuck in the dark ages. In these posts we have begun to describe that planners deserve a better solution, and how our differentiated strategy delivers better results.
This week, I want to talk about our value added technology. Technology has helped to make our lives easier. It has made us more knowledgeable (Google, Zillow, Twitter) and more efficient (the internal combustion engine, LED bulbs). In some cases it has even created new categories of service (UBER).
Some of the most transformative technology has been created as a result of new marketplaces. Amazon, Zillow, eBay: all had transformative effects on their industries by making products more available (Amazon), easier to buy (eBay), or easier to understand (Zillow). We are inspired by these examples and are making the lives of planners and hoteliers easier with GroupSync, our technology for procuring meetings.
Procuring meeting space is a lot like buying a home. It can be overwhelming. It’s a very large transaction (our average meeting is over $100,000) governed by a complicated contract where buyer and seller come to a negotiated solution. Neither party, the planner nor the hotel, wants to be at a disadvantage and neither has very much actionable data to use. You see, the planner doesn’t know much about how hotel values change day-by-day and the hotel doesn’t know how valuable a particular group might be (unless that group has stayed with them in the past). There are thousands of possible options and no objective way to compare them.
GroupSync solves many of these issues. It enables quick, intuitive search based on a planner’s specific preferences. It brings transparency and visibility to the planner through unique forward-looking daily pricing estimates and a clean, simple-to-use interface. It provides clarity around market occupancy dynamics that can help planners make better sourcing decisions. Finally, it makes available direct comparisons between markets (which is where planners tend to save the most money). Hundreds of planners have used GroupSync and they are amazed at the time, energy, and money its use has saved them.
Transparency and visibility are two of our core values here at Groups360. We believe making this process more transparent will benefit both planners and hoteliers. Others seem to think we have something special too. We are honored to have been selected as an Industry Innovator by PhocusWright, the industry leading travel technology research firm.