Group booking platform provider Groups360 has completed a $35 million funding round led by Zigg Capital and including Blackstone Innovations Investments and Fir Tree Partners. These companies join an existing investor group of leading hotel brands, which have also been partners in the company’s solutions: Accor, Hilton, IHG Hotels & Resorts and Marriott International. This latest round brings the company’s total funding amount to $90.5 million.
Founded in 2014 and with offices in Nashville, London and Singapore, Groups360 is recognized as the first distribution channel to offer online booking of large-scale group hotel rooms and meeting spaces. It provides real-time availability and instant booking capabilities for hotel room blocks and meeting spaces, streamlining group travel for planners, attendees and hotels.
The GroupSync platform, which is the company’s exclusive reservations marketplace, is designed to provide greater efficiency for tour operators and hoteliers. Through the platform, travel arrangers have access to enhanced global search capabilities, hotel group inventory and rates, and choice of purchase method through an instant booking or proposal process. simplified. Groups360 also provides these features to leading hotels through private label group booking engines. GroupSync is available free of charge to qualified meeting planners.
Groups360 reports that over the past 12 months, the company has launched instant booking for group stays at more than 7,000 leading hotel properties and booking capabilities at 200,000 hotel properties globally through GroupSynch. Groups360 recently announced business partnerships with Omni Hotels & Resorts, TFE Hotels and Premier Inn – joining the ranks of Accor, Hilton, IHG Hotels & Resorts and Marriott International. According to a press release, Groups360 will leverage the funding round to continue to grow its operations and further expand in the EMEA and APAC regions.
“Groups360 is reshaping the hospitality industry to make group bookings simple, transparent and efficient for hotels and event planners,” Kemp Gallineau, CEO of Groups360, said in a press release. “Now, with the support of our new partners, Groups360 is able to more quickly seize the opportunities available to us to improve group travel.”
“Event planners increasingly expect their entire hotel buying experience to be seamless, instant and online. Groups360 has built an integrated and intuitive platform that benefits hoteliers and event planners everywhere,” said Dave Eisenberg, founding partner of Zigg Capital.
“Groups360 offers a truly differentiated solution in the market,” said John Stecher, Chief Technology Officer at Blackstone. “The Blackstone Innovations Investments team is focused on identifying, investing in and partnering with pioneering companies such as Groups360 to help their businesses take to the next stage of growth. We believe that Groups360’s inventory distribution model and instant booking capability will help transform the entire industry and can create value for Blackstone’s real estate portfolio.
“With Groups360’s innovative platform and unique relationships with some of the world’s leading hotel brands, the company is well positioned to simplify group bookings for suppliers and travelers alike,” said David Sultan, Chief Investment Officer. and managing partner of Fir Tree Partners. “We see a tremendous opportunity for Groups360 to drive online penetration in a global meetings market that has largely remained offline.”
In December, Groups360 announced that meeting and event planners can now instantly book group rooms at more than 6,500 participating hotels, from independent properties to branded hotels such as Hilton, IHG and Omni. At that time, properties in 1,100 markets offered more than 1,000,000 rooms for sale each night through GroupSync Marketplace, Groups360’s solution for meeting and event booking, while GroupSync Marketplace offered instant online booking for groups, a simplified bidding process offering direct access to nearly 200,000 hotels and accommodations. solutions.