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.
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.
COMMERCIAL TRAVEL, INDUSTRY OUTLOOK
Travel Insured International | September 27, 2022
Travel Insured International is pleased to announce a new partnership with Blue Ribbon Bags, a leader in travel luggage retrieval. Travel Insured joins Blue Ribbon Bags' growing list of industry partners seeking to provide a better experience for their travelers. As a travel protection provider with plans containing insurance benefits for lost and delayed baggage, we're excited to offer this service to our customers throThis non-insurance service provided by Blue Ribbon Bags will be available to clients of large tour operators working with Travel Insured. Because each Travel Insured plan features insured benefits for Baggage and Personal Effects, Travel Insured can provide eligible payment up to a maximum benefit amount if baggage and personal effects are lost, stolen, damaged or destroyed during the trip or while checked with a common carrier. The added service of Blue Ribbon Bags will assist travelers in tracking their baggage claim via text.
"Our job is to make that process a little bit better and to keep that communication with the customer as smooth as possible," says Menkin. With assistance from Blue Ribbon Bags, plan holders will also receive intermediary support in pursuing their lost baggage, which can be a tedious and time-consuming process."
-Blue Ribbon Bags CEO, Gabriel Menkin, understands that airlines are doing their best to keep up with lost baggage claims.
When somebody has a lost bag, we are sending them real time email, SMS, and WhatsApp notifications every time there's a change to the status of their bag, says Menkin. Travelers will be empowered to track the progress of their lost baggage claim and receive notifications to stay informed every step of the way. For the first 96 hours, Blue Ribbon Bags will track and expedite the return of a traveler's lost bag. If the bag is not recovered, the traveler can file a claim against their Travel Insured protection plan for their lost or delayed baggage and personal effects.
Travel Insured partners with large tour operators that provide travel packages to customers, which can include air travel, ground transportation, local tours, and other services at one or more locations per trip. For travelers with varied trip types and multiple destinations on their itineraries, baggage protection may be more important than ever.
"This partnership comes at a time when the travel industry is facing unique obstacles in transportation, like significant increases in lost baggage claims from top airlines, We're always seeking innovative ways to enhance our programs, so we're eager to offer this baggage tracking service to our wholesale customers. We strive to help travelers feel confident before, during, and after their trip."
-Isaac Cymrot, VP of Strategic Partnerships
About Travel Insured International
As a leading travel insurance provider with more than 25 years in business, Travel Insured International provides trip protection to help each individual travel confidently. Travel Insured is owned by Crum & Forster whose parent company is Fairfax Financial Holdings Ltd., an insurance specialty company that consistently earns an A credit rating from AM Best. We're proud to partner with tour operators and help them to offer extensive travel protection with major travel insurance benefits as well as non-insurance assistance services. At Travel Insured, we remain steadfast in the commitment to providing dependable coverage, great value, and end-to-end satisfaction for our customers' travel insurance experience.ugh our plans to help ensure expedition of luggage claims through any major airline in the world.