Stayntouch, a global leader in cloud hotel property management systems (PMS), today announced it has secured $48 million in financing in a strategic growth equity investment led by Sixth Street Growth, the technology growth investing arm of Sixth Street.
Founded in 2012 and acquired by MCR in 2020, Stayntouch offers an intuitive cloud PMS for hotels to streamline operations and connect front and back office functions, including reservations, front desk operations, payments, revenue management and reporting, and multi-property management. In October 2022, the company launched Stayntouch 2.0, which expanded its technology suite to offer an end-to-end payments platform, a customizable booking engine, a channel manager, and robust chain management capabilities.
Stayntouch will use the additional capital to expand its PMS software and payments offerings, accelerate customer acquisition, and continue to deliver superior customer service to independent hotels, management companies, and hotel chains globally. Since inception, over $200 million has been invested in the growth of Stayntouch and the development of its cloud-based software products.
“Sixth Street is the perfect strategic partner for Stayntouch as they offer flexible capital solutions and deep operational experience. Their collaborative team brings operational and management expertise along with an in-depth understanding of Stayntouch as a business. We believe Sixth Street will help accelerate the company’s growth plans while strengthening its technology offerings to better serve clients and hotels globally,” said Tyler Morse, Chairman of Stayntouch.
“Stayntouch’s robust yet intuitive platform empowers hotels to streamline operations and resolve some of today’s greatest obstacles in the hospitality industry,” said Ben Johnston, Managing Director, Sixth Street Growth. “Stayntouch’s innovative cloud-based PMS is the future of hotel technology, and we are confident they are best positioned to capitalize on the growth opportunity going forward.”
As part of the investment, Michael Bauer of Sixth Street Growth will join the board in supporting the company to achieve its next phase of growth.
Stayntouch delivers a fully mobile guest-centric hotel property management system (PMS) with a comprehensive library of over 1100+ best-in-class integrations. Our cloud-native PMS empowers hotels to drive revenue, reduce costs, enhance service, and captivate their guests. Stayntouch’s newly expanded PMS platform, Stayntouch 2.0, further simplifies hotel operations, allowing hotels to streamline and accelerate direct bookings, process payments easily, and simplify integrations – offering an even more enhanced guest experience. Stayntouch is supported by a team of professionals with deep roots in the hospitality industry, and is a trusted partner to industry-leading management companies including Sage Hospitality, HEI Hotels & Resorts, EOS Hospitality, and Stoney Creek Hotels, innovative independent brands such as Village Hotels, Pod Hotels, and First Hotels, and iconic independent properties such as the TWA Hotel and Zoku Amsterdam. For more information, visit www.stayntouch.com, and follow Stayntouch on LinkedIn.
About Sixth Street Growth
Sixth Street Growth makes investments in mid- and late-stage technology companies. The Sixth Street Growth team partners with founders and management teams to provide differentiated capital solutions to accelerate organic and inorganic growth. Sixth Street Growth is the dedicated growth investing platform of Sixth Street, a leading global investment firm with over $74 billion in assets under management and committed capital. Sixth Street has invested over $9 billion in more than 70 companies through its Growth franchise since inception. Select Sixth Street Growth investments include Airbnb, AvidXchange, Bloomreach, Contentsquare, Datavant, Gainsight, Kaseya, MasterControl, MDLIVE, Spotify, and Sprinklr. For more information, visit www.sixthstreetgrowth.com, and follow Sixth Street on LinkedIn.
- 3rd-largest hotel owner-operator in the United States
- $5.0 billion portfolio of 150 premium-branded hotels
- MCR operates 9 Marriott brands, 8 Hilton brands and a number of unflagged independent hotels
- Over 25,000 guestrooms across 37 states and 107 cities
- Founded in 2006
- Offices in New York City, Dallas, Chicago and Richmond, Virginia
- 7,000 team members across the country
- Three-time recipient of the Marriott Partnership Circle Award, the highest honor Marriott presents to its owner and franchise partners
- Recipient of the Hilton Legacy Award for Top Performer
- For the TWA Hotel at New York’s JFK Airport, MCR won the Development of the Year (Full Service) Award at The Americas Lodging Investment Summit (ALIS), the Urban Land Institute New York Excellence in Hotel Development Award and the American Institute of Architects national Architecture Award, the highest honor given by the AIA
- Named one of Fast Company’s 10 Most Innovative Travel Companies
- For more information, please visit mcrhotels.com
Contact for MCR