StarCite Reports Record Results For 2004; Meetings Marketplace Grows 75% to $1.3B; Supplier Database Now Largest At 77,000; Online Registrations Exceed 1M
PHILADELPHIA--(BUSINESS WIRE)----StarCite, Inc., the leading provider of technologies and services for the $300 billion global meetings and events industry, today announced a record 2004 with substantial growth of its marketplace, online registrations and corporate use of its technology.
Marketplace Grows 75%, Remains Largest For Meetings & Events
The StarCite Online Marketplace in 2004 delivered more than $1.3 billion worth of meeting RFP opportunities to hotels, 75 percent more than in 2003. StarCite users sent nearly 31,500 unique requests for proposals through the StarCite Online Marketplace in 2004, up sharply from nearly 18,000 in 2003.
The number of gross RFPs sent through the StarCite Online Marketplace rose 83 percent last year to more than 266,800. These RFPs provided more than 4.8 million room night leads to hotels. On a daily basis, StarCite provides nearly $5.2 million worth of lead opportunities to hotels in its database. At the current pace, StarCite expects its Online Marketplace to deliver $2 billion in revenue opportunities to hotels in 2005. Excluded from these figures is volume of private-label sites that StarCite powers for Starwood Hotels & Resorts Worldwide, Fairmont Hotels & Resorts, Omni Hotels and individual hotels.
Global expansion of meeting initiatives of corporate customers also prompted a doubling of StarCite's hotel/venue database in 2004. StarCite added 19,000 Europe, Middle East and Africa properties from the database of Meetings & Conventions, owned by Northstar Travel Media, and more than 600 Regus Group plc. venues. At year-end, StarCite offered the industry's largest online marketplace with more than 77,000 suppliers.
Deepens Deployments in Fortune 1000
In 2004, StarCite increased and deepened deployments of its process and technology to a growing number of Fortune 1000 customers within the high tech, financial services, pharmaceutical and travel industries. Among its clients are Aetna, Aventis, American Cancer Society, Amgen, AT&T, Burger King, Cephalon, Inc., Chubb Insurance, Cisco Systems, Investors Group, Kawasaki Motors, Lehman Brothers and Motorola.
On the supplier side, StarCite integrated its technology with Daylight Software, thus streamlining the RFP process for suppliers and planners. StarCite technology also began powering meeting sites for Dolce International and tourism offices of Hong Kong and Guatemala.
Online Registrations Grow 54%
StarCite further expanded use of its leading attendee management tools in 2004 to more than 1 million transactions. It also extended the value of these tools by integrating with additional online booking solutions offered by GetThere and TRX PNR Data Acquisition.
StarCite also garnered two awards; one for its marketplace model, and a second for stellar business growth. In its debut on the Philadelphia 100 list of fastest growing companies, StarCite ranked 17th in 2004. InfoCommerce Group also selected StarCite as one of 50 "Models of Excellence."
"For the past five years, we've built, enhanced and acquired innovative new technologies and perfected our strategic meetings management processes," said John Pino, Founder and Chief Executive Officer of StarCite, Inc. "Last year, the work began to pay off as we deployed or deepened penetration of our processes in some of the largest corporate meetings initiatives, expanded integration and powering of supplier sites and expanded globally. We look forward to intensifying our sales, deployments and proven solutions in 2005 as we expand and help our clients transform meetings management procurement and processes."
About StarCite, Inc.
StarCite, Inc. provides the most comprehensive suite of applications and services to the $300 billion meeting and events industry. StarCite helps drive efficiencies and cost savings to both corporate buyers and suppliers. More than 400 corporate, association and third-party meeting buyers rely on StarCite's Enterprise Meeting Solutions for workflow, procurement, supply chain management, spend analysis and attendee management. Thousands of industry suppliers rely on the StarCite Online Marketplace, Supplier Marketing Programs and Enabling Technologies to increase meeting revenues. Its StarCite International division represents destination management companies and other premier international travel suppliers using both technology and traditional means. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (Nasdaq:ICGE); Maritz Travel Company; Seaport Capital; Starwood Hotels & Resorts Worldwide, Inc.; and TL Ventures. For more information about StarCite, or its technologies and services, please visit www.StarCite.com.
StarCite, Inc. Media Contact: Mary Ann McNulty, 267-330-0510 mmcnulty@starcite.com
03/22/2005 15:48 ET |
