Convene Hospitality Group Raises $230 Million for Expansion

Convene Hospitality Group has secured $230 million in financing to fund expansion, invest in technology, and pursue acquisitions.

The funding includes a new lender, TPG, a global alternative asset management firm, along with additional equity investment from existing shareholders, including funds managed by Ares Management. 

CHG’s portfolio now spans 38 locations globally and includes multiple brands targeting different segments of the meetings market. Its flagship Convene venues focus on large-scale, design-forward events, while etc.venues cater to smaller meetings and corporate training. The company also operates NeueHouse, a workspace and cultural venue brand, along with newer concepts like The Mallory and The Aperture.

The multi-brand approach is central to its growth strategy. “Our investment underscores our confidence in CHG’s proven multi-brand strategy,” said Jake Gladstone, partner at TPG. 

New York-based Convene started as a single brand in 2009, and later expanded into multiple brands through acquisitions and partnerships. Last September, Convene Hospitality Group was announced as the parent company of all its brands.

CHG plans to expand both organically and through acquisitions, though it has not disclosed specific target markets or deal types.

The company is also continuing to build out its New York footprint. It will open its 16th location in New York City next month, a 32,000-square-foot venue in the historic Scholastic building.

At the same time, CHG is pushing further into experiential formats. Its newer concepts, The Mallory and The Aperture, are designed to support immersive events using advanced production and flexible environments.

Ryan Simonetti, president and CEO of CHG, said the latest funding will allow the company to expand its “house of brands” through both market growth and acquisitions.