Seach over 3,000 Elite Certified Hotels - The commission-free seach and RFP engine

Press Releases

For press inquiries, contact:
corporatecommunications@cvent.com
(571) 830-2335
Back
07/10/07
Elite Meetings International Announces Capital Investment From Jones Equity Partners
Company receives initial $2 million investment,
SANTA BARBARA, Calif., July 10, 2007—Elite Meetings International (EMI) announced today the company has received a $2 million equity investment from Jones Equity Partners (JEP). The agreement also gives EMI direct access to an additional $5 million in a revolving line of credit.

With the investment by JEP and their wholly owned technology company, Ascendim, which specializes in search engine optimization and web marketing, EMI plans to quickly become a dominant player in the meetings and events industry.

“We are very excited about our investment in EMI, ”says JEP’S co-founder and managing director, Marc Jones. “Not only are we very impressed with Kelly Foy, CEO, and his team, but the market they represent provides substantial room for growth. And with the aid of our online marketing company, Ascendim, the sky is the limit for EMI.”

EMI intends initially to use the funds to hire additional staff and open offices in strategic locations worldwide. The company also reports plans to make a significant investment in its Web site, www.EliteMeetings.net, with the aim of creating a dynamic one-stop portal for meeting and incentive planners.

Foy states, “The investment from Jones Equity Partners provides us with resources to quickly and effectively deliver cutting-edge solutions to both meeting planners and hoteliers. We look forward to working with our new investment partners, and are especially excited about working with the team at Ascendim.”

Based in Santa Barbara, California, Elite Meetings International provides targeted solutions to the upper-echelon group segment of the hospitality industry. Through its annual publication, Elite Meetings magazine; Web site, www.EliteMeetings.net; and semiannual event, the Elite Meetings Alliance, the company connects top meeting and incentive planners with the best hotels and resorts in North America. For more information on Elite Meetings International, please call 805.730.1002. For media kit information, please visit www.elitemeetings.net/mediainfo.

Media Contact:
Elite Meetings International
Kelly Foy, CEO
805-730-1002
www.elitemeetings.net