Passkey International, Inc.

www.passkey.com

1. A brief overview / description of what your product or service is.

Passkey’s GroupMAX system is the de-facto standard group booking technology in the $230 billion meetings industry. Deployed at thousands of hotels, destinations and organizations worldwide, GroupMAX was used to manage over 70,000 events, 7 million reservations and $3.5 billion in hotel revenue over the past 12 months. At the heart of the system is the ability to build a custom booking website for each event in a few simple clicks.

GroupMAX is the industry’s only cloud-based solution that utilizes a collaborative and proactive approach to event housing, maximizing guest satisfaction and boosting revenues for meeting destinations, hotels and planners.

Hotels are leveraging GroupMAX’s up-selling toolset to promote room upgrades, extended stays and amenities to groups, leading to significant incremental revenues and profits while improving services to guests. Meanwhile, planners enjoy the benefits of a transparent system that tracks events online while proactively mitigating financial and operational risks associated with housing.

In today’s highly competitive meetings industry, event organizers are facing major challenges in managing and optimizing complex room blocks, while meeting planners, exhibitors and other event affiliates have limited insight into their hotel blocks and bookings.
 
With GroupMAX, event organizers can now optimize their large-scale room blocks with web ease, using features such as the sub-block request tool which automates the process of managing room blocks requests online, and the muti-room booking tool, which lets planners book and manage room blocks in bulk online.

Most notable is the ability for organizers to provide their event affiliates such as companies, associations and exhibitors with a live dashboard that allows each affiliate to manage its own slice of the event online and track their blocks and bookings in real time.
 

 Here are four notable attributes of GroupMAX:

1. GroupMAX allows event participants, from the organizer and meeting planner, to affiliates, guests and hotels to access their relevant aspects of events in a transparent, collaborative and live online environment.

2. GroupMAX is the only group reservation technology with a direct, commission-free booking channel to hotels, allowing for direct transfer of reservations to hotels’ internal system. This eliminates data entry errors and risks while allowing the event housing website to stay open until check-in to capture last-minute bookings.

3. GroupMAX’s RegLink technology can connect virtually any registration system with hotel bookings, helping convert registrants into immediate bookers and leading to higher block pick up, booking pace and lower attrition exposure for meeting planners.

4. Planners can track and analyze data across multiple events, hotels and venues, helping determine housing patterns which might be useful in future planning and contract negotiations.
 

The GroupMAX system is completely transforming the way event housing is managed for all types of events, from major conventions and trade shows to corporate meetings and small social events.

GroupMAX is a user friendly, transparent and collaborative technology that offers clients of all skill levels the tools they need to shift their events online and streamline their housing processes. Most importantly, it helps users capture unforeseen revenues and profits by marketing upgrade opportunities, amenities and other services which has resulted in the creation of hundreds of millions of dollars in new economic value for affiliate organizations, communities and destinations.

This has tremendous implications not only on the meetings industry but on the industry’s impact on local and regional economic activity.
 

Over the past two years, GroupMAX reservation volume and revenue has been growing at an 80% annual clip, which is a strong endorsement of the product’s impact and an indication of the significant increase in market adoption of GroupMAX as an industry standard. Users utilizing upsell tools on average see incremental revenue increases north of 3% on their overall group business.

In response to such great market demand, the company opened its first international office in Singapore in 2010 and will open its Europe operations in Q4 2011.
 

GroupMAX is offered on a SaaS subscription model, typically on a 3 year basis with flexible pricing schemes and commercial terms that meet the needs of any event organizer or host. Pricing varies depending on the size of the client or event.  This is evidenced by the fact that GroupMAX is licensed today by a wide and diverse range of clients, from major cities, meeting management companies, casinos, resorts and organizations to smaller hotels, destinations and meeting planners.
 

Passkey uses a combination of primary and secondary research for product and market development. Utilizing the Company’s recent investment a Reporting and Business Intelligence engine, powered by Oracle, Passkey’s account management team performs custom ROI evaluations for clients to address any problem areas and ensure they are optimizing their investment. In addition, our client services team leverages statistics and trends from all incoming support inquiries to determine where the product may need improvement.

Looking into the future, Passkey will continue to lead the event housing industry with a relentless pace of innovation and development. While most of these developments are kept confidential for obvious reasons, we can refer to the upcoming launch of a basic web booking and room list product, an application geared toward smaller events and destinations as well as the international market. In addition, the company is developing a public meeting planner portal, where planners can collaborate by sharing group campaign practices and websites.

www.passkey.com/media/brochures/Passkey__Brochure_Hotel.pdf