Finland-based MeetingPackage promises to accelerate international growth with €1.5 million in additional investment.
MeetingPackage, a technology provider for hotels and meeting venues, has announced additional investment of €1.5 million that was closed in late 2018.
Set up in 2014, the company aims to use the money to continue in its tech-driven efforts to make meeting room bookings as easy as booking hotels.
The latest investment round was led by existing investors but also attracted new ones, such as Italy-based Falkensteiner Ventures.
MeetingPackage says it has changed its operational focus over the last year by introducing multiple new products for hotels and meeting venues as well as distribution partners.
These new products are aimed at helping the venues and distribution partners to increase revenues and cut costs in meetings and events sales.
The new products include a booking engine solution that hotels and meeting venues can match with their own website and replace all low converting contact forms and offline enquiry forms.
The solution has already increased the conversion of confirmed meeting and event bookings for hundreds of hotel and venue partners by over 600%, MeetingPackage claims.
A global distribution system and channel manager will help venues to reach new customers and increase M&E revenue, while “content management to hundreds of channels from one system will decrease costs and save time”.
“Even though the customers were requesting the possibility of booking meeting rooms online, the hotels and event venues weren’t ready for that yet,” says Joonas Ahola, chief executive and founder of MeetingPackage.
“We understood that we need to help the hotels more in the core of their own operations. We help the hotels and event venues to sell meeting rooms online from their own channels as well as offering more control and ease of access to global distribution and broader customer base. This was a needed step to reach our mission statement.”
Ahola continues: “We are adding more and more distribution partners to our network to allow hotels and event venues to have a centrally managed distribution strategy. Simultaneously, the distribution partners get access to the real-time inventory of meeting and event venues either as a white label or API solution.”
Recently, MeetingPackage also took “a huge step” in optimising the price of meeting rooms and event spaces by partnering with the US revenue management firm IDeaS Revenue Solutions.
Ahola believes that the time has come for online meeting room bookings. It is estimated that more than €100 billion is spent each year on small meetings of under one hundred delegates.