Former Troovo CEO & ACTE President Named Chief Growth Officer; Charged with Expediting Adoption of HRS’ Payment Services

Cologne, Germany – 2 June, 2021 HRS, the leading global corporate lodging platform, named internationally-renowned travel and payment executive Kurt Knackstedt to the new role of Chief Growth Officer, leading the company’s expanding payment solutions business. An established payment innovator who led Troovo’s growth from start-up to global prominence, Knackstedt is known worldwide in B2B payment and managed travel circles for his pioneering approach to the deployment of virtual credit cards and automated payment technologies.

HRS’ payment solutions are used on multiple continents today by a growing number of Fortune 500 managed travel programs. Recently enhanced by the April acquisition of Itelya, the world’s leading travel invoice management services provider, the end-to-end solution is plug-and-play ready. It connects seamlessly with all leading ecosystem providers, including credit card merchants, expense tool providers and VAT reclaim services. Companies using HRS payment solutions see program adoption rise by an average of 23 percent, boosting transparency and financial performance.

Knackstedt, a Chicago native now residing in Sydney, heads the commercial, marketing and strategy functions for HRS’ payment solutions unit. HRS has more than 100 staff members solely dedicated to the development of B2B automation that streamlines payment to suppliers, reimbursement to travelers, and VAT reclaim for corporations. He will report directly to HRS CEO Tobias Ragge.

“It’s a transformational time for our industry, and I can’t think of a better place than HRS to play my part in the next evolution of travel and payment,” said Knackstedt. “The company and its growing client base are blazing new trails with their approach to a fully-automated pay2reimburse process. HRS is well-positioned to help corporate travel procurement leaders drive optimal performance as the industry emerges from the pandemic.”

About HRS

HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction. HRS is also recognized for its award-winning Green Stay Initiative, technology that helps corporate hotel programs achieve their NetZero targets, and its groundbreaking Crew & Passengers Solution, which leverages automation to elevate experiences for air and rail operations. Founded in 1972, HRS works with 35 percent of the global Fortune 500, as well as the world’s leading hotel chains, regional hospitality groups and payment providers. More information at

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