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StarCite Corporate RFPs Soar 82% in 2010
New Global Clients and Meetings Growth within Existing Clients Drive the World’s Most Valuable Online Channel for Group Leads
Press Release Source: StarCite, Inc. On Monday August 9, 2010, 10:45 am
HOUSTON--(BUSINESS WIRE)--StarCite, Inc. announced today that corporate RFPs within its Global Online Marketplace were up 82% for the first five months of 2010 compared to the same period last year. The surge in RFPs was due to increased meetings activity within StarCite’s existing client base and the addition of a number of marquee global clients, Experient, two of the world’s biggest oil and gas companies, and a large labor union.
At its current pace, StarCite anticipates delivering a total of $16 billion worth of eRFPs this year to meeting and event venues representing 6 million room nights and more than $2 billion in meetings and events revenue to participating hotels. And the ratio of hotels per RFP has decreased by 40% over the same time period, while the rate of contracted closure (the number of RFPs that actually get contracted) has grown to more than 90%.
“Today, StarCite is the undisputed leader in providing strategic meetings management solutions to Global 1000 companies and travel and meeting management companies,” said David O’Donohoe, Senior Vice President of StarCite’s global supplier sales and operations. “This in turn, makes StarCite the most valuable online channel for suppliers to expand their group marketshare and tap into quality corporate group leads. We are glad to see the volume in our marketplace increase dramatically, but we are even more excited by the quality of the opportunities flowing through the StarCite channel.”
About StarCite, Inc.
StarCite, Inc. provides a technology platform that makes meetings and event planning, booking and management simpler, easier, and more cost-effective for corporations, hotels, venues and meetings suppliers worldwide. StarCite delivers visibility, cost savings and control over meetings spending for businesses and enhanced revenue opportunities for suppliers. Through Web-based, on-demand technology, StarCite automates and supports every key element of the meetings planning and procurement process: planning, budgeting, buying, attendance, payment, and results measurement. Using StarCite’s proprietary online marketplace, meetings buyers can connect and conduct business with over 93,000 hotels, venues, destinations and suppliers globally. StarCite is based in Philadelphia, PA. Its equity holders include Internet Capital Group (NASDAQ: ICGE - News), TPG Growth, Norwest Venture Partners (NVP), and TL Ventures. For more information about StarCite please visit www.starcite.com.
StarCite Corporate RFPs Soar 82% in 2010
New Global Clients and Meetings Growth within Existing Clients Drive the World’s Most Valuable Online Channel for Group Leads
Press Release Source: StarCite, Inc. On Monday August 9, 2010, 10:45 am
HOUSTON--(BUSINESS WIRE)--StarCite, Inc. announced today that corporate RFPs within its Global Online Marketplace were up 82% for the first five months of 2010 compared to the same period last year. The surge in RFPs was due to increased meetings activity within StarCite’s existing client base and the addition of a number of marquee global clients, Experient, two of the world’s biggest oil and gas companies, and a large labor union.
At its current pace, StarCite anticipates delivering a total of $16 billion worth of eRFPs this year to meeting and event venues representing 6 million room nights and more than $2 billion in meetings and events revenue to participating hotels. And the ratio of hotels per RFP has decreased by 40% over the same time period, while the rate of contracted closure (the number of RFPs that actually get contracted) has grown to more than 90%.
“Today, StarCite is the undisputed leader in providing strategic meetings management solutions to Global 1000 companies and travel and meeting management companies,” said David O’Donohoe, Senior Vice President of StarCite’s global supplier sales and operations. “This in turn, makes StarCite the most valuable online channel for suppliers to expand their group marketshare and tap into quality corporate group leads. We are glad to see the volume in our marketplace increase dramatically, but we are even more excited by the quality of the opportunities flowing through the StarCite channel.”
About StarCite, Inc.
StarCite, Inc. provides a technology platform that makes meetings and event planning, booking and management simpler, easier, and more cost-effective for corporations, hotels, venues and meetings suppliers worldwide. StarCite delivers visibility, cost savings and control over meetings spending for businesses and enhanced revenue opportunities for suppliers. Through Web-based, on-demand technology, StarCite automates and supports every key element of the meetings planning and procurement process: planning, budgeting, buying, attendance, payment, and results measurement. Using StarCite’s proprietary online marketplace, meetings buyers can connect and conduct business with over 93,000 hotels, venues, destinations and suppliers globally. StarCite is based in Philadelphia, PA. Its equity holders include Internet Capital Group (NASDAQ: ICGE - News), TPG Growth, Norwest Venture Partners (NVP), and TL Ventures. For more information about StarCite please visit www.starcite.com.
