IDeaS buys events and meetings software provider Smart Space

George Sell By George Sell
28 March 2017 | Updated 28 March 2017

US: IDeaS Revenue Solutions has acquired Smart Space Strategy Limited, a cloud-based, meeting and events space strategy management solution.

By combining Smart Space with IDeaS' suite of hotel revenue management solutions, IDeaS says it will continue to bridge the roles of revenue management and function space sales and marketing, signalling the growing need for technology solution providers to equip hotels with a more holistic approach to a combined sales and revenue management strategy.

"By combining our revenue management expertise with a function space sales and strategy-focused application like Smart Space, we can help our clients sell, market and manage meeting spaces with more precision and detail than ever before," said Sanjay Nagalia, chief operating officer for IDeaS. "This acquisition represents an incredible opportunity to blend traditionally siloed roles and will help integrate revenue management into the events business. We're thrilled to welcome the Smart Space family to IDeaS."

IDeaS says: "Global spending on meetings and events continues to rise, and the need for hotel and event managers to understand the impact of group business is critical. Smart Space creates a firm connection between revenue managers and event sales managers by providing visibility into meeting and event demand in a powerful web-based tool. It seamlessly pulls data from other sales tools to strategically manage meetings and event functions, allowing hoteliers to collaborate and create ideal pricing scenarios for group business."

Headquartered in London, Smart Space was founded in 2015. All current team members will move across to IDeaS. The terms of the transaction have not been disclosed. All existing Smart Space client agreements will transition to IDeaS and be honoured under their current terms and conditions.

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