Latest news with #TeresaMackintosh
Yahoo
4 days ago
- Business
- Yahoo
TPG closes $1.1bn acquisition of Sabre business Hospitality Solutions
Global alternative asset management company TPG has completed the acquisition of Hospitality Solutions, a leading hospitality technology provider, from Sabre. The transaction is valued at $1.1bn, $960m net of taxes and fees. The completion of the acquisition signifies a new era for Hospitality Solutions as an independent entity with enhanced operational capabilities and resources. The deal was conducted through TPG's private equity platform TPG Capital, which operates in the US and Europe. In addition, Hospitality Solutions has secured a strategic minority investment from MCR, the third-largest hotel owner-operator in the US, in conjunction with the transaction. MCR chairman and CEO Tyler Morse will join the board of directors at Hospitality Solutions as vice-chairman. In a related development, Hospitality Solutions has named Teresa Mackintosh as CEO. She is known for her leadership in the global enterprise software sector, having expanded multiple SaaS companies by fostering operational excellence and a customer focus. Mackintosh said: 'The hospitality industry is embarking on a long-overdue digital transformation, driven by hotels' growing reliance on technology to deliver seamless and personalised guest experiences. '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: their guests." TPG partners Tim Millikin and Paul Hackwell said: 'Hospitality Solutions is the critical bridge between hotels and the information needed to operate efficiently and deliver tailored experiences. Teresa's growth mindset, collaborative approach, and unique ability to drive organisational and customer-facing innovation make her the perfect leader to take the company to its next level. 'We're thrilled to partner with MCR to support the team as they continue to shape the future of hospitality technology.' Hospitality Solutions offers integrated software and solutions to more than 40% of hotel brands worldwide. The SaaS platform acts as an integrated system of record for reservations and guest information, enabling hoteliers to enhance operations, distribution, retailing, and guest experiences with greater precision and efficiency. "TPG closes $1.1bn acquisition of Sabre business Hospitality Solutions" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Skift
5 days ago
- Business
- Skift
TPG Completes Acquisition of Sabre Hospitality Solutions, Gets Investment From Hotel Operator
Key Points TPG has completed its $1.1 billion acquisition of Sabre Hospitality, rebranding it as Hospitality Solutions. Hotel operator MCR has joined as a strategic minority investor, with its CEO Tyler Morse becoming vice chairman of the new board. Teresa Mackintosh, former CEO of Trintech, is the new CEO of Hospitality Solutions, replacing Scott Wilson. Summary TPG has finalized its $1.1 billion purchase of Sabre Hospitality, rebranding the company as Hospitality Solutions and bringing in hotel operator MCR as a strategic minority investor. MCR's CEO, Tyler Morse, will serve as vice chairman of the board, while Teresa Mackintosh, formerly of Trintech, takes over as CEO. The acquisition allows Sabre to concentrate on its core airline and travel agency businesses while positioning Hospitality Solutions for growth amid a broader digital transformation in hospitality.
Travel Weekly
6 days ago
- Business
- Travel Weekly
Sabre completes Hospitality Solutions sale
Sabre on Monday completed the $1.1 billion sale of its Hospitality Solutions business to asset-management firm TPG. Sabre will net $960 million in the deal outside of taxes and fees. Sabre president and CEO Kurt Ekert said the deal provides an opportunity to pay down debt and reduce the company's net leverage. In a separate release, Hospitality Solutions under TPG announced its new CEO, Teresa Mackintosh. Mackintosh was most recently CEO, then executive chair, of software company Trintech. Before that, she was president and CEO of Wolters Kluwer Tax and Accounting for the U.S. and a managing director at Thomson Reuters.
Business Wire
6 days ago
- Business
- Business Wire
TPG Completes Acquisition of Hospitality Solutions Business from Sabre
SAN FRANCISCO & FORT WORTH, Texas--(BUSINESS WIRE)--Hospitality Solutions, a leading hospitality technology provider, today announced the completion of its previously announced acquisition by TPG, a leading global alternative asset management firm. The completion of the transaction marks the next chapter for Hospitality Solutions as a standalone company with greater operational focus, agility, and resources as the core technology platform for hotels globally. Additionally, Hospitality Solutions announced today that it has appointed Teresa Mackintosh as Chief Executive Officer. Mackintosh brings a proven track record of leadership and growth in global enterprise software, having scaled multiple SaaS companies through innovation, operational excellence, and customer focus. '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,' said Mackintosh. '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: their guests." TPG acquired Hospitality Solutions through TPG Capital, its large-scale U.S. and European private equity platform. 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, who will bring additional, specialized hospitality expertise. In connection, MCR Chairman and CEO Tyler Morse will join the company's Board of Directors as Vice Chairman. 'Hospitality Solutions is the critical bridge between hotels and the information needed to operate efficiently and deliver tailored experiences. Teresa's growth mindset, collaborative approach, and unique ability to drive organizational and customer-facing innovation makes her the perfect leader to take the company to its next level,' said Tim Millikin and Paul Hackwell, Partners at TPG. 'We're thrilled to partner with MCR to support the team as they continue to shape the future of hospitality technology.' 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. The SaaS based platform, which was previously a division of Sabre Corporation, serves as an integrated system of record for reservation and guest information, enabling hoteliers to operate with greater accuracy and efficiency. Mackintosh most recently served as CEO and then Executive Chair of Trintech, a global enterprise SaaS company. She led Trintech through a period of transformative growth, tripling the company's revenue over her tenure and expanding both the customer and employee base through a mix of organic growth and strategic acquisitions. She previously served as President and CEO of Wolters Kluwer Tax and Accounting for the U.S., and as a Managing Director at Thomson Reuters. Mackintosh has also served on the boards of multiple leading public and private software businesses. About Hospitality Solutions Hospitality Solutions is a leading developer and provider of hospitality technology and integrated guest information management solutions. The company provides cloud-based SaaS platforms that integrate across critical hospitality workstreams to optimize distribution, operations, retailing, and guest experiences. About TPG TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $258 billion 1 of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. 1 AUM as of March 31, 2025, including AUM attributable to TPG Peppertree on a pro-forma basis.
