Visiting Media and Matterport Digital Twins Redefine Hospitality Sales With Immersive Media in Multi-Year Agreement
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Insights
The strategic partnership between Matterport and Visiting Media signifies a merger of cutting-edge digital twin technology with immersive sales enablement, which is poised to redefine hospitality marketing. This collaboration is expected to enhance the operational efficiency of hotels by integrating digital twins into their sales and marketing strategies, thereby potentially increasing bookings and revenue. The use of digital twins is projected to be adopted by approximately 50% of travel and hospitality organizations by 2025, indicating a strong growth trajectory for Matterport's technology within the industry.
From a market analysis perspective, the hospitality industry's shift towards digital solutions can be seen as a response to the increasing demand for virtual interactions and streamlined operations. Matterport's established presence in creating digital twins, combined with Visiting Media's sales enablement platform, could set a new industry standard, potentially influencing competitors to follow suit. This could lead to increased market demand for Matterport's services and, consequently, a positive impact on its financial performance and stock valuation.
Investors should note the financial implications of Matterport's agreement with Visiting Media. The hospitality industry, valued at $4.7 trillion, offers a substantial market opportunity for Matterport's Property Marketing solution. The integration of Matterport’s digital twins into Visiting Media's platform could lead to operational cost savings for hotels and an increase in sales efficiency, directly impacting the bottom line of the hotels and potentially Matterport's revenue streams.
Moreover, the scalability of Matterport's digital twin technology across thousands of hotels that Visiting Media supports could lead to significant revenue growth and market expansion for Matterport. However, investors should also consider the costs associated with the expansion and the potential need for continued investment in technology to maintain a competitive edge in a rapidly evolving market.
The adoption of digital twins in the hospitality sector, as seen with Matterport's Property Marketing solution, is indicative of a broader digital transformation within the industry. Digital twins offer a virtual representation of physical spaces, allowing for remote tours, which is particularly beneficial for properties aiming to attract global clients. The integration with Visiting Media's platform suggests a seamless user experience that could elevate the marketing capabilities of hotels, thereby enhancing their competitive advantage.
Furthermore, Matterport's expansion into Facilities Management and Design and Construction Management solutions for hospitality clients demonstrates a comprehensive approach to property management, which could lead to improved standardization and efficiency across hotel chains. This holistic use of technology could be a significant value proposition for Matterport, potentially leading to long-term client retention and a stronger market position.
Matterport’s 3D Property Marketing solution, together with Visiting Media, drives transformative hotel marketing and sales solutions for thousands of hotels around the world
SUNNYVALE, Calif., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading digital twin platform to access, understand, and utilize properties, announced an agreement with Visiting Media, a global leader in immersive sales enablement and channel distribution solutions for the hospitality sector.
Visiting Media serves tens of millions of users around the globe, supporting the world’s largest hospitality brands including Hilton, Hyatt, IHG Hotels and Resorts and more. With this new agreement, Visiting Media deepens its use of Matterport’s Digital Twin Platform and Property Marketing solution as the 3D technology of choice for the thousands of hotels it supports.
In collaboration for years, Visiting Media has amplified the application of Matterport’s digital twins for virtual tours of more than 17,000 spaces. With this extension of virtual tour capabilities, hospitality revenue teams can save daily hours by streamlining multiple workflows across their properties while supporting above-property teams and enhancing channel distribution capabilities. This new agreement highlights the powerful application of these technologies, working better together for the unique needs of hospitality sales and marketing teams.
IDC analysts predict that by 2025, roughly
Visiting Media’s sales enablement platform is a pioneering force in the hospitality industry, providing hotels the ability to differentiate their offerings through a brand-agnostic interface to swiftly craft personalized Visiting Media Experiences for every prospect and guest. This unique approach ensures quick and versatile delivery through multiple channels to meet distinct customer’s needs in a one-to-one or one-to-many approach through digital asset management and channel distribution. Integrating Matterport’s digital twins with Visiting Media’s software streamlines the access and distribution of marketing materials to empower sales and revenue teams in the competitive and fast-paced hospitality sector, enabling them to surpass revenue targets and thrive in a dynamic market.
“Our commitment to excellence extends to our partnerships, and collaborating with Matterport exemplifies this dedication. At Visiting Media, we understand that offering top-notch software means aligning with best-in-class technologies to perfect workflows at and above properties,” said Ben Powers, CEO. “Integrating Matterport digital twins seamlessly into our platform is a natural progression to make immersion pragmatic and effective for our customers. We’re not just changing expectations; we're setting a new standard for what a sales platform can achieve in the hospitality industry.”
“Over the last few years, we’ve seen a notable shift as hospitality clients seek to integrate more digital solutions into their everyday operations,” said Jay Remley, Chief Revenue Officer, Matterport. “The immersive capabilities of our digital twins are a perfect complement to Visiting Media’s best-in-class software, which together, is changing what hospitality clients have come to expect from a sales platform."
To bring pragmatic immersive solutions to front-of-house and sales departments, as well as hotel brands, management companies, and ownership groups overseeing hotel revenue growth, Visiting Media is redefining how sales assets are distributed across omni-channels. With Matterport directly integrated into their mix of digital assets, hotels can multiply the effectiveness of their sales strategies, tools, and content. These solutions together allow teams to save time, automate workflows, manage their marketing presence and accelerate the sales cycle in ways never before possible.
Beyond the rich media assets Matterport’s Property Marketing solution provides, hospitality clients are increasingly turning to the company’s Facilities Management and Design and Construction Management solutions to improve operational efficiency across property portfolios, streamlining brand standards, onboarding and training, guest services and property improvement plans.
Learn more about how Matterport and Visiting Media can support your property marketing and sales enablement needs.
About Visiting Media
Visiting Media is a software company on a mission to revolutionize sales enablement and digital asset management solutions for property and above-property sales teams within the hospitality and event industry. We focus on delivering unparalleled competitive advantage by redefining how assets are managed and distributed across various channels. Learn more at visitingmedia.com.
Media Contact:
public-relations@visitingmedia.com
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal, and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2024 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
Media Contact:
press@matterport.com
Investor Contact:
ir@matterport.com
1 IDC FutureScape: Worldwide Hospitality, Dining, and Travel 2023 Predictions
2 Statista: Market size of the hospitality industry worldwide in 2023, with a forecast for 2027
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