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Group That Operates TWA Hotel Buys Chinese Tech Firm After President Trump's National Security Order

Sean O'Neill photo
Sean O'Neill
twa hotel owned by mcr development source mcr

Photo Credit: The recently redeveloped TWA Hotel is owned by MCR Development, a U.S. hotelier that has just bought hotel tech firm StayNTouch. TWA Hotel is a 512-room property that runs on StayNTouch software. MCR

Skift Take

This investment gives hotel tech firm StayNTouch a chance to regain its footing. It comes after six months of uncertainty due to the Trump Administration's forced sale.

U.S. hotel operator MCR Development said Monday that it would buy StayNTouch in a $46 million deal with cash and earnouts. The sale was prompted by President Trump's executive order in March saying the company's ownership by Chinese tech player Shiji Group could have threatened U.S. national security. MCR, which calls itself the fifth-largest U.S. hotel owner-operator, oversees 92 properties. It intends to close the transaction later this month. StayNTouch's signature product is a cloud-based property management system, core software that lets hotel chains manage room availability, manage

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