Veracity Hospitality Appoints Mukund (Mac) Rao as Chief Financial Officer
GURNEE, Ill. – August 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 Trip Advisor’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.