New company going after $45 billion meeting market niche
Groupology, LLC has signed with Pegasus Solutions to go after what it calls the “largely untapped” $45 billion small group travel market.
Groupology will now use PegsTour and UltraDirect electronic distribution products, becoming one of the first customers to do this as a single interface.
Groupology is trying to main a strong presence in the meetings market with special interest in the social, military, education, religious and fraternal segment, the company says.
“Group travel requests represent a unique problem in travel management because most major reservation systems do not provide for group reservations of five or more rooms on line,” said Lephate Cunningham Jr., president and co-founder of Groupology.
“But with this segment representing 30% of the $150 billion meetings, events and group travel industry in the US, there is an immediate need for a solution, for both travelers and hotels,” he said.
Said Dennis Law, a senior vice president for Pegasus:
“The group travel market represents a huge opportunity for hotels and travel distributors, and is an emerging frontier for online booking.”
Pegasus’s distribution service provides an electronic link to connect wholesale/tour operators booking technologies, intermediaries and hotel reservation systems.
Companies using a single interface can take advantage of real-time dynamic and static inventory rates, which allow complete access to be published, among other advantages.
Groupology is a new company that says it has developed technology that automates the group booking process to minimize unqualified leads to suppliers.
Report by David Wilkening
David
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