ProcurePoint Travel Solutions is expanding its charter to enable corporations to reduce the costs associated with procuring hotel services, accommodations and facilities for group, incentive and individual travel.
Led by travel industry veterans Pat Foley, former president of Hyatt Hotels
, and Ed Sarraille, a former marketing executive at Hyatt Hotels Corporation, and backed by leading venture capital firms, including Sequoia Capital, ProcurePoint has a proven track record for successfully matching corporate meeting planners with the best hotel resources for their needs. Since its inception, the company has served more than 700 customers, managed nearly two million room nights in 500 cities worldwide, and has built a supplier network of more than 12,500 hotels.
ProcurePoint enters the market at a time when corporations are facing huge pressure to cut travel costs. But existing cost-cutting measures such as limiting travel or relying on better advance-planning offer only short-term relief. Through its industry-tailored open market negotiation and management tools, ProcurePoint offers a long-term solution that reduces costs and streamlines processes for corporate buyers and hoteliers.
Compaq Computer Corporation and Hyatt Hotels among first to adopt the new approach, reducing the cost and time associated with sourcing, negotiating and securing hotel lodging, services and facilities for offsite meetings.
The first offering in ProcurePoint Enterprise is EnterpriseMeetings, an integrated suite of industry-tailored online tools and account management services designed to facilitate open market negotiation for hotel lodging, as well as eliminate the time-consuming, paper-based processes required to arrange and secure hotel lodging for the thousands of offsite meetings that take place every year within global enterprises. EnterpriseMeetings also enables travel executives to promote compliance with corporate travel policy and makes budget management easier with integrated corporate reporting capabilities.
p>Enterprise Meetings includes a robust online, customized RFP development process that enables corporate meeting planners and travel managers to access a comprehensive sourcing database of more than 12,500 properties worldwide and provide complete information to the hotels bidding to fulfill their meeting needs. Hoteliers save time in the streamlined process responding to a precise set of requirements from qualified purchasers, online. Through ProcurePoint`s open market negotiation process, hotels and corporations have a clear view of competitive offers, allowing them to tailor their responses to current market conditions, previously invisible.