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Hotel & Management: The Global Newsmagazine of the Hospitality Industry
Hotel & Management: News
Innvest Looking Like a Lodging-Industry "HIT"
By Bill Gillette

NEW YORK - Innvest has been taking a lot of hits lately - and Deirdre Murphy couldn't be happier about it.

Murphy, a partner is the New York-based Wilder Group hotel-brokerage firm, is president and co-founder of Innvest, an interactive Web site thats subtitled "Americas Hotel Online Superstore." For those whose knowledge of cyber-jargon isnt quite state-of-the-art, "hits" refer to the number of times Internet users click on the page when theyre seeking information.

Murphy said that the number of hits has doubled every month since Innvest went online six months ago.

"In May, we had 1,400 hits," she said. "In August, it was up to 62,700.

Online Yellow Pages
What Innvest offers users is what Murphy likes to call an Internet Yellow Pages for the hospitality industry. Investors or developers looking to buy a property can find available ones on the Innvest site. Of course, thats because hotel sellers can, for what Murphy said is a nominal charge, list their hotels on Innvest.

"Listings start at about $250 a year," she said, adding that thats less than the real Yellow Pages charges for a years worth of being listed. Hotel & Management: News

In addition to being a listing vehicle for hotel real-estate transactions, Innvest offers information on other areas of the industry, including franchising, products, services, lenders, educational resources and industry associations.

Users can even click on the sites "News" icon and get up-to-the-minute industry news from the editors of HOTEL & MOTEL MANAGEMENT.

Also available on the Innvest site are a calendar of industry events and an amoritization calculator.

Murphy said the next service in line to go online will be listings of employment opportunities.

"Were working on that right now," she said. "There will be a section where someone seeking employment can list a resume for employers to browse, and a section where employers can list job openings."

Murphy said the Innvest site will soon include a "Steals and Deals" section. There, hoteliers will be able to find discounted items, for instance, at a bargain-basement price. She said the listing fee - $100 for three months - is a bargain in itself.

At press time, Murphy said these two additional services were being readied so they can be demonstrated at the upcoming International Hotel/Motel & Restaurant Show in New York.

Hotel &
Management:

Innvest Origins
Murphy said she and Wilder Group President Jeff Wilder - whos also a longtime H&MM columnist - started tossing around the idea for an online service in mid-1995, then began an earnest effort to get it under way six months later.

"As people whove been resources in the industry, it occurred to us that about 80 percent of a salespersons time is spent answering questions," Murphy said. "If I can send you to a place that can almost instantaneously answer your questions or satisfy your needs, a lot of time can be saved.

"And thats time saved not only for the salesperson, who can devote more time to selling," she added, "but for the consumer as well."

Murphy said she has evidence that Innvest is providing the kind of service she and Wilder first envisioned little more than a year ago.

"Im getting e-mail messages from all over the world," she said. "Theyre unsolicited testimonials from people saying theyre getting solid leads."

For the present, at least, Innvest seems to have this particular corner of the cyberspace market all to itself.

"Theres nothing online thats this comprehensive or transaction-oriented," she said. "And itll only get bigger as people get more used to the Internet."

Readers already used to the Internet can contribute yet another Innvest hit by booting up their computers and clicking on http://www.innvest.com

Copyright © 1998. All rights reserved.