TPG has completed the previously announced acquisition of technology provider Hospitality Solutions, which subsequently appointed a new CEO and received a minority investment from MCR as the deal was finalized.
Global asset manager TPG acquired Hospitality Solutions from Sabre through TPG Capital, its large-scale U.S. and European private equity platform. The completion of the transaction marks the next chapter for Hospitality Solutions as a stand-alone company with greater operational focus, agility and resources as the core technology platform for hotels globally, according to the company.
As the deal closed, Hospitality Solutions appointed Teresa Mackintosh as CEO. Mackintosh brings a track record of leadership and growth in global enterprise software, having scaled multiple SaaS companies through innovation, operational excellence and customer focus, according to the company. Mackintosh most recently served as CEO and then executive chair of Trintech, a global enterprise SaaS company.
“The hospitality industry is embarking on a long-overdue digital transformation, driven by hotels’ growing reliance on technology to deliver seamless and personalized guest experiences,” Mackintosh said in a statement. “Hospitality Solutions is leading this evolution with a suite of purpose-built tools that empower hotels to thrive in a tech-enabled era. It’s a privilege to join the team at this exciting moment in the company’s history and I look forward to working together to provide dynamic solutions that allow our customers to focus on what matters most, which is their guests.”
Alongside the transaction close, Hospitality Solutions has received a strategic minority investment from MCR, the third largest owner-operator of hotels in the United States, which will bring additional hospitality expertise. In connection, MCR Chairman and CEO Tyler Morse will join the company’s board of directors as vice chairman.
Hospitality Solutions provides integrated software and solutions that enable more than 40 percent of the world’s leading hotel brands to effectively optimize distribution, operations, retailing and guest experience, according to the company. The SaaS based platform—which was previously a division of Sabre Corporation—serves as an integrated system of record for reservation and guest information, designed to enable hoteliers to operate with greater accuracy and efficiency.