For Immediate Release
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VERACITY HOSPITALITY ANNOUNCES APPOINTMENT OF CFO
Gurnee, IL (Aug. 7, 2013) – Veracity Hospitality, a newly formed independently held hotel and resort
management company, announces the appointment of Mukund (Mac) Rao as Chief Financial Officer. As CFO, Rao is responsible for all aspects of corporate accounting, finance, and budget planning, as well as information technology and purchasing for Veracity Hospitality managed properties.
“Mac’s financial experience within the hospitality industry is extensive,” said Dale McFarland, president and chief operating officer of Veracity Hospitality. “His exceptional leadership, proven track record and the professional and personal integrity with which he works and lives by made him the ideal candidate for this role.”
Rao has spent the last 26 of his 35-year career in hospitality finance and accounting. Positions included: Director of Finance for KeyLime Cove, a role he will continue to fill; Regional Controller for eight Waterford Hotels; and Controller for several different internationally branded hotels and resorts including Radisson, Holiday Inn, Sheraton, and Hilton. Rao holds a Masters Degree in Business Management, and two Bachelors degrees in Economics and Finance. He speaks nine different languages.
During Rao’s 5-year tenure at KeyLime Cove, he successfully led the property through a Chapter 11 filing to become a much stronger, financially viable entity, and ultimately the #1 waterpark resort in the Chicago and Milwaukee marketplace. KeyLime Cove has received numerous awards and recognitions, most notably: Best Indoor Water Park, by Aquatics International in 2011 and 2012; #1 Large Hotel for Families in the US and #2 Large Hotel for Families in the World by TripAdvisor’s 2012 Travelers Choice Awards.
Veracity Hospitality was founded by McFarland, a 25 year hospitality and waterpark resort veteran, and was recently awarded the management contract for the 414-room KeyLime Cove Indoor Waterpark Resort located in Gurnee, IL where he additionally wears the hat of general manager.
“There is an integral piece missing in the way many hotels and entertainment venues are operated,” said McFarland. “I’ve seen it throughout my career, and I decided to do something about it. Veracity Hospitality will close that gap by delivering unique, customizable management solutions through hands-on senior leadership and operations.”
McFarland plans to expand the Veracity Hospitality portfolio and is pursuing additional hotel, resort, and entertainment venue management contracts.
About Veracity Hospitality
Veracity Hospitality is a third party, independent management company with an innovative, customizable approach to hotel and resort management. Veracity Hospitality works with asset owners looking to achieve long lasting financial results to further enhance the overall value of the property. They achieve this by building and leading a team of employees who work hard to deliver an exceptional guest experience, implementing market-leading, revenue-generating techniques, and providing consistent and effective control over expenses.
About KeyLime Cove Indoor Water Resort
KeyLime Cove is less than an hour drive from Chicago and Milwaukee. As The Official Resort of Six
Flags Great America, the year-round resort features 414 guest rooms and offers a complete family vacation without ever leaving the property. The resort’s entertainment and amenities include a 65,000 square-foot, 82-degree tropical-themed waterpark, 8,000 square-foot arcade, multiple restaurants, two spas, and 6,000 square feet of banquet and meeting space. An abundance of fun is found around every corner, including the uniquely themed interior, arts, crafts, interactive festivities, shops and street vendors. KeyLime Cove is managed by Veracity Hospitality.