Event: 2020 Phocuswright Europe
Founded Year: 2014
HQ: Helsinki, Finland
Principal(s): Joonas Ahola, Brian Garvan, Himanshu Mittal, Matti Rautanen
Product Description: The MeetingPackage product suite allows hotels to digitize their M&E sales process by delivering full automation through the booking engine. With the same technology, hotels can take over their distribution strategy to over 300 channels using the channel manager. MeetingPackage also offers a venue and sales management solution that is an integral part of the service allowing revenue management, pricing and business rule configuration on top of the sales and catering/PMS integration.
Business Model: Hotels can subscribe to the products they need whether it is the booking engine, venue and sales management, or the channel manager solution. All products have three different tiers; basic, professional and enterprise. They are typically priced on a monthly or annual license fee, but due to COVID-19, we offer the solutions as a commission-based model also.
Competitors: BookingTek is the only known player that has an integration to a Sales & Catering solution to date. Other vendors are considered as distribution partners rather than competitors.
Competitive Edge: MeetingPackage is the only provider globally allowing direct connectivity to hotels' meeting room inventory through a single point of connection (API) to multiple PMS/sales and catering softwares. The MeetingPackage booking engine and channel manager allow hotels to manage their M&E online sales.
Market Opportunity: Hotels are suffering from low utilization and human resources to handle M&E sales. The hotel market has realized that their current process is too manual, slow and not transparent for customers. A majority of the global hotel industry doesn't offer any instant booking of their meeting rooms or event spaces. We see that this is the only logical way forward in scaling M&E sales during and post COVID-19. It is estimated that more than €100B billion is spent each year globally on small meetings.
Early Customers: Nordic Choice Hotels, Radisson Hotel Group, DeVere, CWT, Event Inc, Scandic Hotels, Jurys Inn, Venue Directory