Teresa Guastella
Founder/CEO
RoomRite
RoomRite is a resale marketplace that allows groups to list excess hotel rooms from their contracted room blocks, enabling smaller groups to book these rooms at discounted rates. This platform reduces financial liability from attrition fees for sellers while providing cost savings for buyers seeking group accommodations.
- Commerce & Shopping
- Hospitality & Travel Technology
Updated 7 months ago
Funding
Funding rounds are not available yet.
Founders
Product
Problem
Meeting and event planners often face financial penalties due to unused hotel rooms within their contracted room blocks. These attrition fees can amount to significant unexpected costs, impacting event budgets and profitability.
Solution
RoomRite provides a resale marketplace that enables groups with excess hotel rooms in their contracted blocks to list these rooms for other groups and travelers to book. This allows the original group to reduce or eliminate attrition fees by filling otherwise empty rooms. Buyers benefit by gaining access to discounted rates and room inventory that may not be available through traditional channels, especially when booking on short notice. Hotels benefit from increased occupancy and the potential for additional revenue through upselling products and services to the new guests.
Target Audience
The primary users are meeting and event planners seeking to mitigate attrition fees, as well as smaller groups and travelers looking for discounted hotel rates and last-minute room availability.
Features
- Proprietary resale marketplace for group hotel accommodations
- Platform for listing excess hotel rooms 60-120 days prior to the event
- Minimum booking requirement of 10 rooms per transaction
- Vetting process for planners listing rooms
- Automated removal of unsold rooms by the contract cutoff date
- Integration with hotel systems to validate room availability and prevent overbooking
- Attrition calculator to assess options for reselling rooms