TPG, a global alternative asset management firm based in Fort Worth and San Francisco, has completed its previously announced acquisition of hospitality technology provider Hospitality Solutions from Southlake-based Sabre (Nasdaq: SABR) for $1.1 billion in cash. Hospitality Solutions also announced the appointment of Teresa Mackintosh as CEO.

“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: their guests.”

TPG acquired Hospitality Solutions through TPG Capital, its large-scale U.S. and European private equity platform.

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, the company said. In connection with the investment, 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 serves as an integrated system of record for reservation and guest information, enabling hoteliers to operate with greater accuracy and efficiency.

Mackintosh was formerly CEO of Trintech

Most recently, Mackintosh was CEO and then executive chair of Trintech, a global enterprise SaaS company.

She led Trintech through a period of transformative growth, Hospitality Solutions said, tripling Trintech’s revenue over her tenure and expanding both the customer and employee base through a mix of organic growth and strategic acquisitions. Mackintosh previously was president and CEO of Wolters Kluwer Tax and Accounting for the U.S., and as a managing director at Thomson Reuters.

She also has served on the boards of multiple leading public and private software businesses.

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