TRAVEL TECHNOLOGY, DESTINATION AND TOURISM
AMERICAN EXPRESS | October 20, 2022
American Express® (NYSE: AXP) and Cvent® (Nasdaq: CVT), a market-leading meetings, events, and hospitality technology provider, introduced enhanced features to the Cvent Event Marketing & Management platform that further expand virtual payment capabilities, leveraging American Express’ integrated budget management and payment automation solutions.The enhanced features provide a seamless meetings & events (M&E) payment experience for American Express Corporate Meeting Card and vPayment clients using the Cvent Event Marketing & Management platform, by:
Streamlining onboarding and improving the user experience, including a step-by-step escalation process to provide additional support
Simplifying M&E expense allocation with American Express @ Work Reconciliation®, a free 24/7 tool that eases the invoicing process
Increasing virtual funding account options with vPayment, an American Express® payment solution that assigns a single-use account number to each transaction to help increase billing efficiency, expected to be available in the US and UK late 2022
Incorporating an automated reconciliation process, providing users with greater budget visibility, more audit controls, and better data consistency, expected to be available early in 2023
“As large companies increasingly look to bring people back together for client events or internal gatherings, they want more simplification, efficiency and automation, and managing their budgets has become more important, That’s why we partnered with Cvent to deliver an enhanced virtual payment and automation solution that helps provide a seamless user experience and better serves our clients’ needs.”
-Dean Henry, Executive Vice President, Global Business Financing, Payments & Digital Experiences at American Express
According to the new American Express Meeting & Events Trendex1, 97% of corporate event planners believe company events and meetings are equally or more important compared to pre-pandemic, with about three-fourths (74%) saying they expect their 2023 meetings and events budget to increase. While over eight in ten (81%) planners are already using an automated payment process, 82% say they plan to further automate their payment processes within the next six months.
Looking deeper into the main attributes corporate event planners are looking for in a spend management software platform, the top five are:
Simple user experience (50%)
Enhanced security (48%)
One integrated meeting & expense budget platform (39%)
Greater budget visibility (37%)
Automated end-to-end reconciliation (37%)
Since 2018, American Express and Cvent’s virtual payments integration has allowed event managers to pay suppliers and manage meetings and events budgets with American Express virtual account numbers via the Cvent Event Marketing & Management platform. These new American Express and Cvent enhancements aim to address growing needs as companies continue to reimagine what returning to the office, M&E planning, and business travel look like.
“Capturing actual meetings and events spend has long been an organizational pain-point with cumbersome invoices, manual spreadsheets, and siloed processes – which ultimately leads to decreased visibility and reduced budget control, For over two decades, Cvent has helped thousands of companies gain greater control over these expenditures, and with our American Express® payment enhancements, organizations can streamline their payment and reconciliation processes to deliver greater visibility and insights into their total meeting and event spend. In today’s environment, controlling costs is essential for event programs to maximize ROI and prove their value to the organization.”
-Anil Punyapu, Cvent Senior Vice President of Sales
1The Morning Consult poll was conducted between September 1-September 5, 2022 among a sample of 305 Corporate Meeting Planners & Event Organizers employed full time or part time, with one of their main responsibilities including organizing/planning/marketing events. The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 6 percentage points.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress. Key links to products, services and corporate responsibility information: personal cards, business cards, travel services, gift cards, prepaid cards, merchant services, Accertify, Kabbage, Resy, corporate card, business travel, diversity and inclusion, corporate responsibility and Environmental, Social, and Governance reports.
Cvent Holding Corp. (Nasdaq: CVT), is a leading meetings, events, and hospitality technology provider with more than 4,700 employees and approximately 21,000 customers worldwide. Founded in 1999, the company delivers a comprehensive event marketing and management platform and offers a global marketplace where event professionals collaborate with venues to create engaging, impactful experiences. Cvent is headquartered in Tysons, Virginia, just outside of Washington D.C., and has additional offices around the world to support its growing global customer base. The comprehensive Cvent event marketing and management platform offers software solutions to event organizers and marketers for online event registration, venue selection, event marketing and management, virtual and onsite solutions, and attendee engagement. Cvent’s suite of products automate and simplify the event management process and maximize the impact of in-person, virtual, and hybrid events. Hotels and venues use Cvent’s supplier and venue solutions to win more group and corporate travel business through Cvent’s sourcing platforms. Cvent solutions optimize the event management value chain and have enabled clients around the world to manage millions of meetings and events. For more information, please visit Cvent.com.
TRAVEL TECHNOLOGY, INDUSTRY OUTLOOK
Radisson Hotel Group | September 09, 2022
CellPoint Digital, the global leader in payment orchestration, announces a new partnership with Radisson Hotel Group.Radisson Hotel Group is one of the largest international hotel groups. The Radisson family of brands can be found around the world in more than 120 countries. Radisson Hotel Group operates the business in EMEA and APAC with over 1,000 hotels in operation and under development. The Group will now use CellPoint Digital’s full payment orchestration platform to seamlessly integrate new payment methods, new acquirers and stored card facilities. By orchestrating payments across regions and payment methods, CellPoint Digital’s innovative platform will allow Radisson Hotel Group to optimize a multi-acquirer payments model that opens new opportunities for growth.
It also helps increase top-line revenue by utilizing intelligent routing, increasing authorizations, providing system uptime transparency, and reduces the cost of accepting cross-border payments. This will reduce costs, increase acceptance rates and ultimately lead to a better customer experience.
“After researching the impressive results our global airline clients have enjoyed, Radisson Hotel Group decided we were the right Payment Orchestration partner to help it revolutionize how payments are handled across its locations. This is a very competitive environment, and we are proud to have been chosen by the Group, which has such an incredible reputation in the hospitality field.
-CellPoint Digital CEO, Kristian Gjerding
For many hotels, local payment methods and alternative payment options can be challenging to navigate. But getting payments right can unlock new opportunities for hotels to grow revenue, both in the short and long term. CellPoint Digital’s aim for this partnership is to help Radisson Hotel Group achieve its vision of transforming how it orchestrates international payments.
This is a strategic win for both CellPoint Digital and Radisson Hotel Group. It allows CellPoint Digital to capitalize on its leadership position within the airline space for Payment Orchestration to deliver significant value to the hospitality industry.
Philippe de Roose, SVP Tax & Treasury Radisson Hotel Group, added: “We chose CellPoint Digital because the senior team was impressed with their solution and appreciated its flexibility and innovative approach to help our customers pay in the payment method and currency that they prefer in the most optimal and beneficial way for Radisson Hotel Group. Crucially, both organizations have a shared desire to work collaboratively and get things done.”
News of the partnership comes after it was revealed that business leaders within the hospitality industry see the offering of a variety of payment choices (42%), payment fraud and security (40%) and the refund process (28%) as their most significant challenges this year.
HotelPlanner | November 23, 2022
HotelPlanner, a global travel technology platform and hotel booking engine, announced a new service agreement with Roibos, one of the fastest-growing B2B hotel inventory marketplaces globally. HotelPlanner will deploy Roibos distribution channels to expand its hotel room offerings globally while improving real-time inventory efficiency.
“In today’s complex and fragmented hospitality market, we are always looking to improve efficiency and connectivity in the global marketplace of selling hotel room nights, Parnering with Roibos will help us to offer the best inventory at the best rates – at the speed of now. We look forward to expanding this partnership in the coming years.”
-Bas Lemmens, EMEA President, HotelPlanner.
The direct connection between HotelPlanner and Roibos will help Hotelplanner accelerate the go-to-market on direct contracting, as Roibos is the most cost-efficient way to grow direct hotel contracts. says Anna Igual, Chief Distribution Officer, Roibos. “Accompanying HotelPlanner on its worldwide expansion is the perfect way to expand our reach. It’s a win-win! We look forward to being an integral part of their growth strategy moving forward.
Roibos is a B2B hotel distribution marketplace where hoteliers and travel operators can connect directly, without intermediaries. This new generation platform helps to improve sales, margins, and distribution, while removing inefficient contracting and complex integrations that reduce profit margins on both ends. Roibos has developed an exclusive Technology Platform (100% in house development), eliminating many traditional inefficiencies, and focusing on what is important to our clients.
Roibos vision is to become the most relevant global marketplace for hoteliers and travel operators through reinforcing these three pillars: Innovation, Control and Profitability.
HotelPlanner is a leading travel technology company that combines proprietary artificial intelligence and a 24/7 gig economy-based reservations and customer service network, to quickly and seamlessly serve all traveller hotel & accommodation needs from a single platform.
HotelPlanner is one of the world’s top providers of individual, group and corporate travel bookings, specializing in unique “Closed User Group” discount rates. Founded in 2003, HotelPlanner has enduring partnerships with the world’s largest Online Travel Agencies, well-known hotel chains, individual hotels, online wedding providers, ancillary lodging providers, corporations, sports franchises, universities and government agencies.