Convene Hospitality Group (CHG) said Tuesday it has secured $230 million in strategic growth capital to
accelerate global expansion across its multi-brand platform. The latest funding is provided by
new lender TPG, as well as an additional equity investment from current shareholders, including Ares funds.
A portion of the capital will be deployed toward new development; technology and production capabilities; and selective acquisitions to further scale the platform. The financing comes on the heels of a new chapter for CHG as it integrates and scales a growing house of leading hospitality brands and several special event venues.
“The way the world works, meets and gathers has significantly evolved since we debuted in 2009, and we’re blurring the lines between hospitality and traditional events to meet that shift,” said Ryan Simonetti, CEO and co-founder of CHG. “Our clients expect a high level of service, design and production capabilities, whether we’re partnering on a corporate conference or delivering a one-of-a-kind experience in a special event space. This capital allows our house of brands to expand through strategic market growth and thoughtful mergers and acquisitions.”
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