Blackstone Gives Hotel Portfolio Access to Groups360 as Part of Wider $35 Million Funding Deal
Photo Caption: An Aloft hotel in downtown New York City.
Skift Take
Blackstone wants to capitalize on the upside of a travel recovery in hotels, and its investment in Groups360 is a small step. The upshot is it helps Groups360 triple the number of hotels it works with.
Groups360, a platform which helps match meeting planners with venues, has secured $35 million in an investment round led by property and technology investment firm Zigg Capital, which includes participation from Blackstone Innovations Investments, and New York Hedge fund Fir Tree Partners.
They join existing investors Accor, Hilton, IHG Hotels & Resorts, and Marriott International, which pumped $50 million into Groups360 in 2019.
The platform, which provides real-time availability and instant booking capabilities for hotel room blocks and meeting space, will use the money to expand in Europe, the Middle East and Africa, plus the
