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updated: 8/7/2013 12:44 PM

Veracity Hospitality in Gurnee names new CFO

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Daily Herald news services

Gurnee-based Hotel and resort management company Veracity Hospitality, the managing company of KeyLime Cove Waterpark Resort, has appointed 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 master's degree in business management, and two bachelors degrees in economics and finance. He speaks nine different languages.

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 Number 1 water park 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.

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