Event: 2018 Phocuswright Europe
Product: MeetingPackage.com
Category: Startup Company
HQ: Espoo, Finland
Principal(s): Joonas Ahola, CEO & Founder; Henri Nyström, COO
Funding: To date, raised US$3.2M in funding.
Product Description: For bookers of meeting rooms, we provide a global inventory of 250K+ meeting rooms in 120 countries. We offer three different ways of making a meeting room booking: enquiry, booking request and instant book. For meeting venues, we provide a booking engine and a global distribution network. The customer-facing technology enables them to sell their meeting rooms online either using the back end of our extranet or their existing sales and catering software through API integrations.
Business Model: We take a commission of 8-18% from the total value of bookings that come through MeetingPackage.com or any of its affiliate channels. Average order value is €2800. The booking engine solution is sold as a SaaS model for €99-199 per property per month. (No commission from bookings going through the venue's own booking engine!)
Competitors: Online players include: Meetingsbooker, iVvy, Bizly, Expedia; Indirect competitors: venue finders/catalogues such as Cvent, Venuefinder
Competitive Edge: Our technology is more capable to cater the corporate M&E needs. We provide a solution for hotels to sell their meeting rooms genuinely online. We are the only provider globally to have a two-way integration validated for Opera S&C. Our APIs and extranet can also be used as a standalone solution.
Market Opportunity: The global market for meeting room bookings of 10-100 attendees is US$100B+. The total addressable market with 15% commission is around US$16B. There is globally 100K+ hotels that have meeting rooms in their property. On top of this, there is a growing number of office space providers that rent their meeting rooms. We see the market growing from both the supply and demand side.
Early Customers: 1000+ direct corporate clients; 100+ affiliate partners such as CWT; 6000+ contracted hotels such as Scandic Hotels
