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Dive Brief:
Together, Blackstone and the Asian American Hotel Owners Association have acquired a majority stake in hospitality technology provider M3, Blackstone announced Thursday. 
The move — AAHOA’s first-ever strategic investment — aims to accelerate M3’s growth through new product expansion and supporting the adoption of the company’s software, according to Blackstone. 
Blackstone declined to disclose terms of the transaction. In a statement, AAHOA Chairman Miraj Patel said the partnership will “bring AAHOA Members access to advanced technology and innovative solutions that can enhance operational efficiency and drive growth.”