Groups360’s $35 million investment from Zigg Capital, Blackstone Innovations Investments and Fir Tree Partners will accelerate the adoption of GroupSync technology for hoteliers and planners worldwide.
We’re excited to announce that Zigg Capital, Blackstone Innovations Investments and Fir Tree Partners have invested a combined $35 million in Groups360 to enhance our GroupSync platform. The funding will help speed up the development of products that create greater efficiency in group booking, accelerate the launch of housing solutions for better room block management, and expand our operations to bring GroupSync’s cutting edge technology to hoteliers in Europe and Asia Pacific.
“Meeting planners increasingly expect their entire hotel purchase experience to be seamless, instantaneous, and online,” said Dave Eisenberg, founding partner at Zigg Capital. “Groups360 has built an integrated, intuitive platform that benefits hoteliers and event organizers anywhere in the world.”
Creating ease, efficiency and transparency
GroupSync has changed what it means to source and book hotels for groups. Hotels on our marketplace are positioned to drive more valuable group revenue, experience more efficient RFP and room block management, and receive more qualified leads. Our suite of products is designed to help hoteliers create more value in less time, with fewer resources.
As the no. 1 hotel marketplace for booking groups, GroupSync’s enhanced electronic RFP capability empowers planners to more efficiently search, source and book groups at over 200,000 properties worldwide. This single web-based solution provides greater access to hotel group inventory and rates for faster, smoother booking.
As a result of this rapid adoption of GroupSync technology, we anticipate that an additional 20,000 leading hotel properties will begin offering instant group booking in the months ahead. Already available at nearly 7,000 properties globally, instant booking gives planners the option to skip the RFP process for smaller group reservations, taking hotel sourcing time from months to minutes.
“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.”
We’re on a mission to make group travel better for all – from hoteliers to event planners to attendees. This investment will play an important role in accelerating our efforts to improve group booking across the hospitality industry.
“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.”
More about this announcement:
Read the press release on PR Newswire
