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Blackstone’s investment is seen as a pivotal moment for M3, enabling the company to leverage Blackstone’s expertise and network
Blackstone Growth, alongside affiliated funds, has acquired a majority stake in M3, LLC, a leading provider of hospitality accounting software. This strategic investment, which includes the involvement of the Asian American Hotel Owners Association (AAHOA), aims to accelerate M3's growth by expanding its product offerings and enhancing the adoption of its software across the hospitality industry.
M3, which John McKibbon founded in 1998, was first established to fulfill the accounting requirements of McKibbon's own hotel management company. Today, it serves over 8,000 properties in North America and has been recognized as the top hotel accounting software provider by HotelTech Report for four consecutive years. M3's platform includes solutions for accounting, labor management, and business intelligence, positioning it as the system-of-record for financial data for more than a thousand hotel operators and management companies. Blackstone’s investment is seen as a pivotal moment for M3, enabling the company to leverage Blackstone’s expertise and network in the real estate and technology sectors. This partnership is expected to enhance M3’s product development and support its expansion in the broader hospitality market.
In addition, the alliance is AAHOA's first strategic investment, underscoring the organization's dedication to offering members cutting-edge technology and creative ways to boost operational effectiveness. The terms of the deal were not disclosed, but the collaboration is expected to significantly benefit the hospitality industry as a whole.
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