Hotel company selects platform with a goal to accelerate event sales, drive revenue, and deliver a strong customer experience
NEW YORK–(BUSINESS WIRE)–Carats & Cake, the financial operating system for property groups, today announced that five Loews Hotels & Co properties have implemented the company’s platform. Carats & Cake added new revenue optimization solutions to its platform in January 2022, each of which is designed to drive fast conversion and increase in spend for property groups. The platform includes an administrative dashboard, standardized cross-property financial reporting, marketing and sales solutions, as well as contracting, invoicing, and payments products. With Carats & Cake, properties also benefit from valuable data and insights — information that property owners and sales / marketing teams cannot easily get elsewhere — to better inform future marketing strategies. The company’s approach adds value throughout the full customer lifecycle, from acquisition to conversion, which yields increased spend.
The five Loews Hotels & Co properties to implement Carats & Cake include Loews Coronado Bay Resort, Loews Miami Beach Hotel, Loews Chicago Hotel, Loews Ventana Canyon Resort, and Loews Coral Gables Hotel.
“Bringing on hotels from a brand such as Loews Hotels & Co is a huge milestone for Carats & Cake. Throughout the pandemic we listened closely to the pain points of our 4,000 property partners on Carats & Cake, we knew that in order for them to rebound quickly — which Loews & Co. properties have already successfully done — and continue to grow they needed to streamline sales operations, contracting, and digital and mobile customer experiences. We’ve built the end-to-end platform to meet those unique needs,” said Jess Conroy, CEO and Founder, Carats & Cake. “Purpose-built solutions are necessary in the events industry — it’s a high-touch market where every impression counts. Large, special events are high-cost moments yet have long lacked sophisticated payments and financing solutions. We’re excited to deliver the B2B platform for properties to modernize and maximize the revenue potential of events.”
Carats & Cake sits at the nexus of marketing, sales operations, and financing. The solution enables properties to benefit from event booking, management, and financial reporting in a standardized way. Most properties maintain a point-of-sale system on the hotel side of the business, but those are valuable systems with their own requirements distinct from the needs of special events and small group sales. As evidenced by Carats & Cake’s rapid traction, it’s clear property groups have an appetite for improving their operational performance through turnkey software solutions.
About Carats & Cake
Carats & Cake delivers the revenue optimization platform for property groups, transforming the $100 billion annual events industry. As a rapidly evolving proptech platform, Carats & Cakes drives greater value for properties across events, small group sales, and other areas of business that have lacked purpose-built digital solutions. Built by industry leaders, Carats & Cake has cultivated nearly a decade of trust with best-in-class businesses. Founded in 2013 and backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, Carats & Cake enables forward-thinking businesses in the hospitality industry to provide a modern customer experience while optimizing sales operations and increasing revenue.