Groups360 Announces Strategic Investment From Global Hospitality Companies to Create Online Marketplace for Meetings
$50 million Combined Investment From Accor, Hilton, IHG (InterContinental Hotels Group) and Marriott International Will Allow Groups360 to Expand GroupSync™ platform to Create Online Sourcing and Booking Solution for Simple Meetings
Groups360, a leading online marketplace for meetings, today announced that four major hospitality companies - Accor, Hilton, IHG (InterContinental Hotels Group) and Marriott International - have invested a combined $50 million in Groups360 to enhance the GroupSync™ platform and make group travel easier for meeting planners. GroupSync™ will deliver the first truly transparent, efficient and cost-effective online tool for meeting planners to source and book meetings and events across a wide selection of brands.
Kemp Gallineau, Groups360 President and CEO stated:
"We have listened to meeting planners and heard their needs. Planners are looking for a simple and seamless experience for booking group rooms, meeting space, and ancillary services. Simple meetings should have a simple solution to make bookings across multiple brands easier. We are focused on continuing to enhance GroupSync's™ reputation as the "smartest" search and book application available as it makes recommendations to planners based on their preferences and market price predictions from our algorithms. With this new investment in our business, we will scale up our sales, marketing and engineering teams to deliver this enhanced GroupSync™ functionality to more planners around the world."
Groups360 will continue to be led by CEO Kemp Gallineau and Executive Chairman David Kloeppel. Each of the investors will be represented on the Board of Groups360.
About Groups 360
Groups360 is simplifying and transforming the way meetings are booked. The company's online marketplace, GroupSync, using its proprietary matching algorithms designed specifically for meeting planners, has helped place thousands of events at the right venue, saving planners time and money. GroupSync's price predictor tool improves transparency, reducing time and effort required to book meetings for both the hotel and the planner. Groups360's management team brings the right mix of innovative technology and industry expertise culled from decades of experience running the country's largest convention hotels. Using GroupSync, planners can search for more than 177,000 properties in 225 countries and territories.