Groups360 has completed a $35 million funding round led by Zigg Capital that included Blackstone Innovations Investments and Fir Tree Partners. They join existing investors Accor, Hilton, IHG Hotels & Resorts, and Marriott International.
Groups360 is a group travel booking platform that provides real-time availability and instant booking capabilities for both hotel room blocks and meeting space, streamlining group travel for organizers, attendees and hotels. Through the GroupSync platform—the company’s proprietary bookings marketplace—travel organizers can access global search capabilities, hotel group inventory and rates, and choice of purchasing method via instant booking or simplified proposal process. Groups360 also offers these services to hotels through private label group-booking engines.
Over the past 12 months, the company has launched instant booking for group stays at over 7,000 hotels and booking capabilities at 200,000 hotels worldwide through GroupSync. 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. The company will leverage the financing round to continue to grow its operations and expand further in Europe, the Middle East, Africa and the Asia-Pacific region.
“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.
According to 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.”
For more information, visit www.groups360.com
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