Groups360 attracts $35 million and prepares to expand group travel platform

Group travel booking platform Groups360 has raised $35 million in new funding.

The investment was led by Zigg Capital and included Blackstone Innovations Investments and Fir Tree Partners.

US-based Group360, which launched in 2014, received a $50 million investment from Accor, Hilton, IHG and Marriott International in 2019.

The company provides instant availability and booking of hotel rooms and meeting spaces through its GroupSynch platform.

It also offers the same functionality to hotels through a private label booking engine.

Groups360 says the latest investment will go towards further expansion in EMEA and APAC regions.

It recently signed agreements with Omni Hotels & Resorts, TFE Hotels and Premier Inn.

Kemp Gallineau, CEO of Groups360, said, “With the support of our new partners, Groups360 is able to more quickly seize the opportunities available to us to improve group travel.”

Dave Eisenberg, Founding Partner of Zigg Capital, said, “Event planners increasingly expect their entire hotel buying experience to be seamless, instant and online. Groups360 has created an integrated and intuitive platform that benefits hoteliers and event planners everywhere.

John Stecher, Chief Technology Officer at Blackstone, adds: “Groups360 offers a truly differentiated solution in the market. The Blackstone Innovations Investments team is focused on identifying, investing in and partnering with pioneering companies such as Groups360 to help their businesses take 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.

A report from Amadeus released earlier this week reveals that group travel is increasing with anticipated occupancy rates “on the books” already outpacing performance in 2021 and 2020.

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