M3, a Lawrenceville, GA-based provider of hospitality accounting software, received a majority investment from Blackstone.
The amount of the deal was not disclosed.
The growth investment was made in partnership with Asian American Hotel Owners Association (AAHOA).
Founded in 1998 by John McKibbon, and led by Allen Read and Casi Johnson, CEO and President, M3 provides a hospitality-focused back-office accounting software platform that serves as the system-of-record for financial data for more than a thousand hotel operators and management companies today. Used by over 1,000 management groups and owner-operators and hotels of all sizes, the platform works with other key systems and tools in the hospitality industry. It offers accounting and financial analysis across entire portfolios with optional operations and time management features. M3’s Professional Services team provides on-demand accounting and bookkeeping support for hotels and portfolios of any size by offering a full range of customized accounting solutions that can scale with a hotelier’s needs.
The company currently offers technological solutions including accounting, labor management and business intelligence to more than 8,000 properties across North America.
FinSMEs
19/08/2024