Pittco Management has made an equity investment in Groups360, a company facilitating online bookings for group hotel rooms and meeting spaces.
This investment is channelled through special-purpose entity PDI Hospitality.
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With its headquarters in Nashville, Tennessee, Groups360 aims to revolutionise the $1.1tn group hotel and event market through its proprietary platform.
The platform is designed to streamline and simplify the booking process, offering transparency and efficiency in group travel arrangements.
The company has established partnerships with six large hotel brands, enhancing the customer experience by reducing time, energy, and costs associated with organising group travel.
In 2019, industry giants such as Accor, Hilton, IHG, and Marriott invested in Groups360, supporting its people, direction, and technological solutions.
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By GlobalDataThe company’s vision attracted further investment in 2022 from Blackstone Innovations Investments, Fir Tree Partners, and Zigg Capital.
Groups360 executive chairman Dave Kloeppel said: “Groups360 continues to reshape the group travel industry, making the process of a group booking simple, transparent and efficient for both hotels and event organisers.
“We are excited to partner with Pittco as we continue to drive significant growth through all of our platforms and product offerings.”
Based in Memphis, Tennessee, Pittco provides a range of services including investment, accounting, tax, and financial advice.
Pittco Management president and chief investment officer Henry Guy said: “With a talented management team and critical brand partnerships, Groups360 has both the resources and the reach to finally bring the market for group events online. We are pleased to partner with this team as they enter a new phase of growth.
In a move to enhance its offerings, Groups360’s platform GroupSync announced a strategic partnership with open payments platform Spreedly in June 2024.
This collaboration was aimed at accelerating value delivery and revenue growth for GroupSync’s hotel clientele, marking another milestone in Groups360’s expansion.
