Despite forecasts of an impending global economic crisis, EVENTS:review has come across yet another example of business growth in the meetings and events industry.

Dutch meetings and events technology provider Meetingselect has recently received investment that will allow it to expand its offering in response to increased demand from companies looking to rationalise their venue and hotel booking processes.

The news comes in the wake of similar success stories from the likes of events agency TRO and roadshow specialists Event Marketing Solutions, while a recent ICCA report found its members, which are suppliers to the meetings and events industy, in optimistic mood about their business prospects for the coming year.

Meetingselect provides technology that helps companies rationalise their venue and accommidation booking and keep the spend more easily, thanks to its online database of more than 57,000 hotels and meeting locations worldwide. The company connects meeting and events planners with these hotels and locations through its online booking tool, Meetingselect.com.

The rise in demand that Meetingselect has experienced is backed by new research by Airplus, which shows that, among Dutch travel managers of companies of all sizes, 30% of travel professionals make price agreements with suppliers of hotel and meeting locations regarding meetings, incentives, conferences and events, 14% more than in 2007.

“Now that many companies have properly implemented individual travelling policies, more attention is being paid to saving costs on external meetings and group reservations, one of the last undeveloped aspects of purchasing,” said Judith Huisman, partner at Meetingselect.

The latest funding round for Meetingselect has come from Dutch company Joan Leemans, Cofined NV, which has taken shares in the business, and by doing so is expressing its confidence in the company’s future performance.

In some respects, this is not quite as surprising as it may originally seem, as Meetingselect’s service helps companies to keep the costs of holding meetings and events under control, which they will need to do more than ever during a downturn.

Anneke van Veen, the european procurement specialist, travel and car fleet for Canon Europe, which uses Meetingselect’s technology, is certainly happy with the results to date. “From a purchasing point of view, get a better insight into the yearly costs and production of meetings,” she said. “In addition, we can see where the meetings took place. We can see what we as a company do on a monthly basis (but also quarterly, per 6-months and yearly) when it comes to meetings. This gives us more insight when we start negotiations with the locations for the new year

“With Meetingselect’s tool, we can also bring our preferred partners forward,” she continued. “The price agreements and the contracts are loaded in Meetingselect. This way, the bookers can see with which locations we have price agreements and what to expect from it. Meetingselect also saves our meeting bookers time. You can easily put out a request for several locations. When the right location has been found, the other locations can be thanked via the tool. Once the right location has been accepted via  the tool, the booker can get in touch with the location through the ‘normal’ channels, keeping the personal relationship!”

Since the launch of Meetingselect.com in May 2007, more than 250 meeting and group requests worth a total €2.2 million, have been distributed through the company, with 72% of all requests being Netherlands-based, while 28% are overseas, mainly in Europe. The company estimates that the number of requests will double yearly.

“With the meeting technology of Meetingselect, the wish to achieve future savings can easily be realised,” said Anouk Roohé, a partner at the company. “In addition to the option of steering towards preferred suppliers, you have access to monthly reports with detailed meeting management information; who books what, where and at which cost for hotel rooms, meeting room rentals, meeting packages, food and beverage, and audiovisual equipment.”

Meanwhile, Huisman was delighted that the company has secured new funds. “We are very enthusiastic about this new capital and are convinced that within two years, strategic meeting management will be a continuous focus point in all purchasing departments” she said.