Convene Secures $230M to Reshape the Future of Corporate Events

NEW YORK, NY – March 24, 2026 – Convene Hospitality Group (CHG), a global leader in premium meeting and event venues, today announced it has secured $230 million in strategic growth capital. The significant funding round, led by new lender TPG and supported by additional equity from existing shareholder Ares Management Corporation, is set to fuel a major global expansion and further solidify the company's position at the forefront of a rapidly evolving hospitality landscape.

The capital injection marks a pivotal moment for CHG, which operates a multi-brand platform including Convene, etc.venues, and NeueHouse. The funds are earmarked for aggressive growth, including new venue development, strategic acquisitions, and enhancements to its technology and production capabilities. This move signals powerful investor confidence in CHG's model, which is actively blurring the lines between traditional corporate functions and high-end, experiential hospitality.

Redefining the Corporate Gathering

In an era where the nature of work has been fundamentally altered, CHG has carved out a distinct niche by transforming the corporate meeting from a necessity into a curated experience. The company's philosophy moves beyond the confines of standard hotel conference rooms, focusing instead on creating dynamic environments that merge sophisticated design, cutting-edge technology, and human-centered service.

"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 a corporate conference or delivering a one-of-a-kind experience in a special event space."

This approach directly addresses a growing market demand. Industry data shows a significant uptick in off-site meetings, as companies seek to build culture and engage clients through high-impact, in-person events. CHG's portfolio is designed for this new reality, offering everything from state-of-the-art hybrid event platforms like Convene Studio, which can host up to 10,000 virtual attendees, to chef-driven culinary programs that elevate the entire event experience. By focusing on these premium elements, the company provides a compelling alternative for businesses looking to make their gatherings more meaningful and productive.

The Financial Powerhouses Behind the Expansion

The involvement of TPG, a leading global alternative asset management firm, as a new lender is a powerful endorsement of CHG's strategy and future prospects. TPG's credit arm highlighted its confidence in the company's proven multi-brand approach and its ability to capitalize on the increasing global demand for flexible, high-quality event spaces.

"We're excited to partner with Convene Hospitality Group's exceptional management team and existing investors to support their next phase of global growth," said Jake Gladstone, Partner and Co-Head of Research for TPG Credit Solutions. "Our investment underscores our confidence in CHG's proven multi-brand strategy and its ability to meet the growing demand for high-quality, flexible meeting and event spaces globally, solidifying their leadership in the evolving hospitality market."

Meanwhile, the continued financial backing from Ares Management Corporation, which first invested in 2022, demonstrates a deepening conviction in CHG's long-term vision. The 2022 investment, part of a recapitalization with HBC, was instrumental in creating the current powerhouse by combining several flexible workspace and event brands under one umbrella. Ares, a major player with nearly $623 billion in assets under management, has a track record of successful investments in the hospitality sector.

"Since Ares' initial investment in 2022, we have worked closely with Ryan and his exceptional team to support their strategic vision for CHG as an industry leader and innovator," commented Brad Friedman, a Partner at Ares. "This latest investment reflects our strong conviction in the business and the exciting opportunities ahead, and we look forward to supporting CHG as it continues to differentiate itself with the premium spaces, experiences and talent that clients seek."

A Blueprint for Global Dominance

Armed with $230 million in new capital, CHG is poised to aggressively expand its footprint. As the largest provider of dedicated meeting and event venues in the United States and the United Kingdom, the company plans to both enter new markets and deepen its presence in existing ones. A key part of this strategy involves selective mergers and acquisitions, leveraging the funding to consolidate a fragmented industry.

"This capital allows our house of brands to expand through strategic market growth and thoughtful mergers and acquisitions," Simonetti confirmed, pointing toward a period of accelerated growth for the platform.

This expansion is already taking concrete form in New York City. The company anticipates several openings in 2026, including a new Convene location in the historic Scholastic Building in SoHo. More ambitiously, CHG will launch The Aperture and The Mallory, two new immersive event venues designed as flexible canvases for high-impact experiences. These spaces will feature advanced production technologies like projection mapping, underscoring the company's commitment to pushing the boundaries of event capabilities.

These new developments are emblematic of CHG's broader strategy: transforming premium commercial real estate into high-yield, hospitality-driven assets. By offering a comprehensive, service-oriented solution, the company provides landlords with a powerful value proposition in a changing real estate market.

The hospitality group's expansion is not just about adding locations; it's about scaling a unique model that integrates workplace, events, and experiential venues. This infusion of capital provides CHG with the financial strength to not only build and acquire new properties but also to invest heavily in the talent and technology required to maintain its high standards of service and innovation across a growing global portfolio. This strategic investment solidifies CHG's role as a dominant force shaping the future of how and where people gather for business and special events.