$35 Million Investment from Zigg Capital, Blackstone Innovations Investments, and Fir Tree Partners to Accelerate Growth
NASHVILLE, TN – April 7, 2022 – Groups360, a leading platform for booking group travel, today announced the completion of a $35 million funding round led by Zigg Capital and including Blackstone Innovations Investments, and Fir Tree Partners. They join existing investors Accor, Hilton, IHG Hotels & Resorts, and Marriott International.
Groups360 provides real-time availability and instant booking capabilities for both hotel room blocks and meeting space, streamlining group travel for organizers, attendees, and hotels alike. The GroupSyncTM platform, which is the Company’s proprietary bookings marketplace, delivers greater efficiency for travel organizers and hoteliers. Through the platform, travel organizers have access to enhanced global search capabilities, hotel group inventory and rates, and choice of purchasing method via instant booking or simplified proposal process. Groups360 also provides these capabilities to leading hotels via private label group booking engines.
Over the last 12 months, Groups360 has launched instant booking for group stays at over 7,000 leading hotel properties and booking capabilities at 200,000 hotel properties worldwide via GroupSyncTM. Groups360 recently announced commercial partnerships with Omni Hotels & Resorts, TFE Hotels, and Premier Inn – joining the ranks of Accor, Hilton, IHG Hotels & Resorts, and Marriott International. Groups360 will leverage the financing round to continue to grow its operations and expand further in EMEA and APAC.
“Groups360 is reshaping the hospitality industry in a manner that makes booking groups simple, transparent, and efficient for both hotels and event organizers,” said Kemp Gallineau, CEO, Groups360. “Now, with support from our new partners, Groups360 is positioned to more quickly seize the opportunities which lie ahead for improving group travel.”
“Event organizers increasingly expect their entire hotel purchase experience to be seamless, instantaneous, and online. Groups360 has built an integrated, intuitive platform that benefits hoteliers and event organizers anywhere in the world”, said Dave Eisenberg, Founding Partner at Zigg Capital.
“Groups360 offers a solution that is truly differentiated in the marketplace”, said John Stecher, Chief Technology Officer at Blackstone. “The Blackstone Innovations Investments team is focused on identifying, investing in, and partnering with pioneering companies like Groups360 to help take their businesses to the next stage of growth. We believe that Groups360’s inventory distribution model and instant booking capability will help drive industry-wide transformation and can create value for Blackstone’s real estate portfolio.”
Fir Tree Partners Chief Investment Officer and Managing Partner David Sultan said, “With Groups360’s innovative platform and unique relationships with some of the largest hotel brands in the world, the company is well-positioned to simplify group bookings for both suppliers and travelers. We see a tremendous opportunity for Groups360 to drive online penetration in a global meetings market that has remained largely offline.”