Cvent, Inc. , a leading cloud-based corporate event management platform, today announced the launch of Group Business Trends by Cvent, a free, online interactive dashboard which provides city-level Cvent sourcing data, enabling users to explore industry trends and benchmarks. The dashboard is the first resource of its kind, providing insights on group business performance for 44 markets including Chicago, New York, Los Angeles, and Washington, D.C.
“We’re excited to open up our own data to the market for exploration,” said Kevin Fliess, vice president of product marketing for Cvent’s Hospitality Cloud. “Since 2012, Cvent has produced annual rankings for the top meeting hotels and destinations based on data from our own marketplace. In 2015 alone, planners sourced $9.8 billion in meetings and events through the Cvent Supplier Network. Now, hoteliers will have the opportunity to gain valuable insights into group business trends and interact with the data in new ways.”
The data in Group Business Trends can be viewed by major metro area and is divided into four categories:
- Group ADR: explores group rates by location, chain scale, and event details
- RFPs: explores RFPs by booking window and size
- Group Sales Behaviors: covers process performance metrics like response time and turn down rate
- Planners: describes planner traffic and where they source
Each category can be further analyzed through multiple filters – offering millions of possible combinations and potential scenarios for data exploration. For example, hoteliers in Chicago can leverage Group Business Trends by Cvent to analyze the ADR of hotels with 301-500 hotel rooms in their market or identify where most of their competing market’s planners are located.
Group Business Trends by Cvent is a part of the Cvent Hospitality Cloud, a marketing solutions and software platform for the hotel and venue group sales lifecycle. The Hospitality Cloud enables hotels, convention visitor bureaus (CVBs) and other event venue owners to generate and manage demand for meetings and events, and measure group business performance.
Featuring more than 240,000 hotels, resorts and special event venues, the Cvent Supplier Network is one of the world’s largest and most accurate databases of detailed venue information. It contains listings of hotels and other venues in more than 175 countries that can be searched and filtered based on approximately 200 characteristics and data fields.
Group Business Trends by Cvent is the first step towards creating additional dashboards for Cvent’s property-specific analytics. Hoteliers interested in detailed analytics on their property and comp set can purchase comp set reports. For information or to explore Group Business Trends by Cvent, please visit Cvent.com/GroupTrends.