State of the Tripleseat Union
There has been a lot of State of the Union speeches lately, so I thought I would pile on with my own. I started Tripleseat in 2008 during the downturn in the economy. At the time, a lot people told me that I was crazy and that the era of big parties and companies having off site events was over. Well, fast forward a couple of years and it is clear that not only is Event Management very much alive, but so is the Event and Private Dining business.
At Tripleseat, we have 700 plus venues, ranging from bowling alley’s, Ping Pong (yes, you read that right), ships, go karts, and of course hotels and restaurants as customers. I am really proud to report that Tripleseat has a 99% renewal rate with a large amount of customers going on their 4th year with us. We recently polled our users about the service and 95% said they would recommend Tripleseat and 99% said that our support was superior.
Currently Tripleseat has over 4,000 users that access the web application every day in 20 different countries. Our users have created over 500,000 Contracts, Banquet Event Orders, and Proposals. As for Event Bookings, Tripleseat has managed over 600,000 Bookings worth $1.5 Billion (with a B). Wow! The numbers don’t stop there. Tripleseat has captured and delivered 315,000 leads, worth close to $800 million in the event business to our customers. In December of 2013, there was an increase of 66% in the average price of an event (up to roughly $3,500 per event). In addition, the number of events booked in 2013 over 2012 was significant. As you can see, the Event Business is very much alive and growing.
The Event business is not the only thing growing. Tripleseat grew the number of new customers by 64% over 2012. We also added three new people for Sales, Development, and Support. We now have 12 people at Tripleseat who are working from NJ/NY/DC/NV/NE and, of course, Boston. In 2014, we have some really exciting development projects in the works. Our plans include enhancing our Credit Card payment feature to allow our venue’s customers to pay online directly from our BEO’s and other documents, improve the Booking process to allow for multiple events within a Booking, and some “double secret” projects I can’t talk about… yet.
Tripleseat is clearly the leader in web based Sales and Event Management for all types of venues. Who would have guessed that back in 2008?