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Cvent to Drive $2.5 Billion in Unique Group Business to Hotels in 2010

Expects to Grow to $4 Billion in 2011


MCLEAN, VA – November 8, 2010 – Cvent, the world’s largest provider of online event management and meeting site selection solutions, will drive $2.5 billion worth of unique group business to hotels and special event venues through the Cvent Supplier Network (CSN) in 2010.  In Q3 2010 alone, as meetings demand returned, meeting planners sent close to $700M in unique Request for Proposals (RFPs) through the system. The company expects almost $4 billion in unique group business to flow through CSN in 2011.
 
“Some of our projected growth for 2011 will come from the meetings industry recovering, but the majority will be due to the fact that CSN is increasingly becoming the sourcing platform of choice for the meetings industry,” said Chuck Ghoorah, Cvent’s Co-Founder and Executive Vice President of Sales and Marketing.
 
The Cvent Supplier Network is a free, online meeting site selection and electronic Request for Proposal (RFP) tool, and the leading source of group business for hotels and special event venues around the world. With detailed profiles of more than 100,000 hotels and event venues worldwide, the Cvent Supplier Network is the largest and most comprehensive meeting and event site selection tool. Adoption of the system is consistently increasing among large corporations, in particular, with a significant number of the Fortune 1000 sourcing meetings through CSN.
 
About Cvent:
Founded in 1999, Cvent is the world’s largest meetings management software company and has over 670 employees worldwide. Cvent offers web-based software with features including meeting site selection, online event registration, event management, e-mail marketing, and web surveys. Cvent helps over 80,000 users in 35 countries manage hundreds of thousands of events, surveys and e-mail campaigns. Cvent has processed over $1.5 billion in online payments and has managed over 30 million event registrations and survey responses for its clients. For more information, please visit www.cvent.com.
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Contact:

Jamie Rismiller
JRismiller@cvent.com

www.cvent.com
 

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Also See: Cvent Announces New Technology Relationship with Hyatt; Streamlined RFP Technology Is Intended to Increase Efficiency for Hyatt and Cvent’s Meeting Planners /April 2010

Kimpton Hotels & Restaurants Featured on the Cvent Supplier Network to Target Group Meetings Business / February 2010

Cvent is Now the Largest Source of Meeting RFPS in North America; Cvent Supplier Network Accomplishes Hockey-Stick Growth in 2009 by Sending 100,000 RFPs to Meeting Venues in Q4 2009 / February 2010

Cvent Supplier Network Spans the Globe Profiling 100,000 Meeting Hotel and Event Venues; Expanded Worldwide Site Selection and eRFP Service to be Showcased at the 2009 EIBTM Exhibition / November 2009

ConferenceDirect Selects Cvent Supplier Network as Hotel RFP Platform / July 2009

Cvent Announces Strategic Partnership with Starwood Hotels; Hotels Leverage Online Advertising to Capture Meeting Planner Audience / June 2009

Cvent CEO Reggie Aggarwal Named Ernst & Young Entrepreneur Of The Year® 2009 Award Winner in Greater Washington; Award Recognizes Entrepreneurial Excellence in IT Services Category / June 2009

Hilton Selects Cvent Supplier Network as New Lead Channel For Group Business / June 2009

Cvent Partners with Hyatt to Increase Group Business to Hotels; Hyatt Promotes Complete Portfolio on Cvent Supplier Network / April 2009

Marriott Increases Group Business on Cvent Supplier Network; New Partnership to Promote Marriott Hotels with Meeting Planners / April 2009
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