SAN FRANCISCO & FORT WORTH, Texas—Hospitality Options introduced the completion of its beforehand introduced acquisition by TPG. The completion of the transaction marks the subsequent chapter for Hospitality Options as a standalone firm.
Hospitality Options additionally introduced that it has appointed Teresa Waterproof coat as chief government officer. Waterproof coat has beforehand scaled a number of SaaS firms.
“The hospitality trade is embarking on a long-overdue digital transformation, pushed by accommodations’ rising reliance on know-how to ship seamless and customized visitor experiences,” stated Waterproof coat. “Hospitality Options is main this evolution with a set of purpose-built instruments that empower accommodations to thrive in a tech-enabled period. It’s a privilege to hitch the workforce at this thrilling second within the firm’s historical past, and I sit up for working collectively to offer dynamic options that enable our clients to deal with what issues most: their company.”
TPG acquired Hospitality Options by means of TPG Capital, its large-scale U.S. and European personal fairness platform. Alongside the transaction shut, Hospitality Options has acquired a strategic minority funding from MCR. In connection, MCR Chairman and Chief Govt Officer Tyler Morse will be part of the corporate’s Board of Administrators as Vice Chairman.
“Hospitality Options is the important bridge between accommodations and the knowledge wanted to function effectively and ship tailor-made experiences. Teresa’s progress mindset, collaborative method, and distinctive skill to drive organizational and customer-facing innovation makes her the right chief to take the corporate to its subsequent stage,” stated Tim Millikin and Paul Hackwell, companions at TPG. “We’re thrilled to accomplice with MCR to help the workforce as they proceed to form the way forward for hospitality know-how.”
Waterproof coat most lately served as chief government officer after which government chair of Trintech. She led Trintech by means of a interval of great progress, tripling the corporate’s income over her tenure and increasing each the client and worker base. She beforehand served as president and chief government officer of Wolters Kluwer Tax and Accounting for the U.S., and as a managing director at Thomson Reuters. Waterproof coat has additionally served on the boards of a number of private and non-private software program companies.