MCR Development To Acquire StayNTouch For $46 Million
Hotel owner-operator MCR is set to acquire StayNTouch, a cloud-based hotel property-management system and contactless solutions provider, for $46 million.
StayNTouch lets hotel managers track reservations, room rates, room inventory and housekeeping on a mobile or tablet interface. The technology requires minimal staff training and can be used anywhere, including off-property, on any mobile device.
Offering contactless guest check-in via a web-based kiosk, StayNTouch has added more than 40 hotels to its proprietary platform over the past five months during the COVID-19 pandemic. StayNTouch’s plug-and-play technology allows hoteliers to raise service levels, reduce costs and drive revenue.
StayNTouch’s system, which vertically integrates with hotels’ technology stacks, is used at 500 hotels worldwide in more than 100,000 guestrooms, including the 512-room TWA Hotel at New York City’s JFK Airport, which is owned and operated by MCR; Yotel properties; MGM Resorts;bGreat Wolf Lodge; Mint Hotels; Conscious Hotels; Valencia Hotels; Modus Hotels and Margaritaville.
MCR has a strong relationship with the StayNTouch executive team, which is based in Bethesda, Md., that dates back to the TWA Hotel’s development in 2018. “StayNTouch is the best property-management system on the market,” said Tyler Morse, chairman and CEO of MCR and Morse Development, who will serve as chairman of StayNTouch. “MCR will partner with StayNTouch’s team to invest in customer support, product development and technology infrastructure to continue the company’s history of innovation and expand StayNTouch’s reach around the world.”