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When I was running around IMEX America like a maniac on Tuesday, the news broke that Cvent has added another successful event technology upstart to its roster.
Cvent’s acquisition of Social Tables makes sense on many levels. Cvent needs easy-to-use tools for meeting planners as it attempts to revamp its complicated platform for the future. By bulking up in the areas in which it is weakest, Cvent becomes more formidable during a time when small event tech companies are innovating in interesting ways.
Social Tables itself can escape the crunch of a growing company and staff up to better refine its tools and reach customers.
Cvent CEO Reggie Aggarwal told me he will continue to be opportunistic about buying emerging event technology providers. They’re well-capitalized after being acquired by Vista Equity Partners in 2016, and are willing to use that war chest going forward.
Thanks to everyone who has taken the time to meet, chat, and drink tea at IMEX America this week. It’s been real.
— Andrew Sheivachman, Senior Editor
The Future of Events and Meetings
Cvent Buys Social Tables as Event Tech Consolidation Escalates: Cvent is working methodically to expand its offerings in the small meeting space by acquiring Kapow and now Social Tables. Social Tables found success streamlining obvious pain points for planners, which is something Cvent can learn from.
Group Booking Pace Slows in Tight Market for Meetings: New research from Cvent shows that group business is declining for U.S. hotels, and planners are booking room blocks closer to the date of their event than before. This is bad news for hotels, which rely on group bookings to boost business.
Measuring the Value of Wellness to a Hotel Brand: Every time you turn around these days, a major hotel company is announcing that it has hired a chief wellness officer. But will this wave of devotion to wellness be a phase or a long-lasting phenomenon? Look to the return on investment for that answer.
Around the Industry
SBE CEO Warns of the Wal-Mart Risk in Hospitality: Can you ever really have the independence to do your own thing and have all that scale? SBE’s Sam Nazarian will find out soon enough.
Marriott’s New Reservations System Could Be Its Secret Weapon: Expect all the other major hotel brands to be revamping their reservations systems just like IHG has, and Marriott soon will, too.
The Promise of China’s Enormous Corporate Travel Market: Business travel continues to grow in the world’s largest market, presenting significant opportunities for Western travel management companies. The prize is two-fold: winning global accounts from multinationals tapping into China’s growth and taking a share of the enormous domestic market as it matures.
Skift Senior Editor Andrew Sheivachman [firstname.lastname@example.org] curates the Skift Meetings Innovation Report. Skift emails the newsletter every Wednesday.