Blackstone Picks Majority Stake In Hotel Accounting Tech M3

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It is the system-of-record for financial data for over a thousand hotel operators and management companies.

M3's technology suite, which includes accounting, labour management, and business intelligence tools, currently serves more than 8,000 properties across North America.

With the latest infusion, M3 will focus on bolstering its product expansion efforts and facilitating wider adoption of its software.

Simultaneously, AAHOA, which constitutes nearly 20,000 hotel owners and 60% of hotels in the US, will make its first-ever investment alongside Blackstone.

AAHOA chairman Miraj S. Patel said: "This partnership with M3 will bring AAHOA Members access to advanced technology and innovative solutions that can enhance operational efficiency and drive growth.

"We are committed to empowering our members with the tools and resources needed to succeed in an evolving market, and this collaboration marks a pivotal step toward achieving that goal."