MIAMI - Sep 09, 2025 (UTC) - Palm Tree Crew, the global entertainment, hospitality, and investment holding company founded by Kyrre Gørvell-Dahll (“Kygo”) and his manager Myles Shear, announced a strategic partnership with WME Group, a global leader in sports and entertainment representing the world’s most influential storytellers, brands, live events, and cultural experiences. WME Group led Palm Tree Crew’s $20 million Series B funding round, valuing the company at $215 million and fueling its next stage of growth across entertainment, hospitality, and lifestyle.
“As music, hospitality, lifestyle, and live experiences converge, Palm Tree Crew has quickly established itself as a cultural force at the center of it all,” said Mark Shapiro, President & Chief Operating Officer of WME Group. “Our investment reflects both our confidence in Palm Tree Crew’s vision and the natural alignment between our companies in creating world-class experiences that captivate audiences around the globe.”
In addition to WME Group, the Series B round includes participation from a combination of existing and new investors that invested in the round.
“From day one, our goal has been to build more than a company – we set out to create a lifestyle brand that celebrates connection, culture, and the carefree spirit of the tropics,” said Myles Shear, Co-Founder of Palm Tree Crew. “With WME Group and our world-class investors behind us, Palm Tree Crew will continue to scale bigger, go bolder, and push into new territory across music, hospitality, and beyond.”
Since January 2024, Palm Tree Crew’s global scale has grown dramatically, underscoring its rise as a cultural powerhouse. In 2025, the company accelerated its hospitality expansion, opening four properties in under a year, including Palm Tree Beach Club in Las Vegas, Palm Tree Club & Hotel in Miami, Palm Tree Club Kansas City, and Palm Tree Club Orlando. Palm Tree Crew has also expanded its festival footprint with immersive new U.S. destinations in Montecito and Napa, alongside its European debut in Saint-Tropez and Sardinia.
“This past year proved the power of Palm Tree Crew as both a global festival platform and a growing hospitality company, from expanding to new markets to forging cultural partnerships with world-class brands,” said Michael Diaz, CEO of Palm Tree Crew. “Our new funding and partnership with WME Group will accelerate growth across live events and hospitality while enabling diversification into synergistic verticals. This new round of funding positions us to scale that momentum and deliver unforgettable experiences for fans around the world.”
Fresh off a sold-out European debut in Saint-Tropez, headlined by A$AP Rocky and Swedish House Mafia and attended by Rita Ora, Kyle Kuzma, and Winnie Harlow, Palm Tree Crew has proven it is more than a music collective. With partners like Amazon, DraftKings, Tequila Don Julio, and Revolve, and a celebrity-favorite merch line worn by Travis Kelce and Morgan Wallen, Palm Tree Crew has cemented itself as a year-round cultural platform.
Palm Tree Crew’s influence extends beyond entertainment. At its first Aspen festival, hotel rates surged 37%, restaurants saw record-breaking revenue, and secondary ticket prices soared to 250% above face value – generating $88.3 million for the local economy. Today, Palm Tree Crew hosts nearly 10 flagship festivals annually across the globe, featuring artists such as Calvin Harris, A$AP Rocky, Swedish House Mafia, John Mayer, The Chainsmokers, and Kygo.
Beyond events, Palm Tree Holdings invests in early-stage consumer and technology companies, offering founders access to its global marketing platform, talent network, and business development resources. Recent investments include Ryl Tea, Cove Sodas, and SipMARGS, where Palm Tree Crew brought on Alix Earle as both a lead investor and brand ambassador.
About Palm Tree Crew
Palm Tree Crew, founded by Kygo (Kyrre Gørvell-Dahll) and Myles Shear, is a diversified holding company spanning a consumer brand, global live events and hospitality, and a multi-product investment platform. Known for its global, world-class Palm Tree Music Festivals, as well as lifestyle and fashion collaborations, Palm Tree Crew continues to innovate across industries. Its expanding hospitality portfolio currently includes Palm Tree Club Miami, Palm Tree Club Orlando, Palm Tree Beach Club in Las Vegas, and Palm Tree Club Kansas City. These ventures reflect Palm Tree Crew’s mission to blend live music, lifestyle, and hospitality into unforgettable experiences. For more, visit ptc-holdings.com.
