Lee Pillsbury Joins the Duetto Board

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. April 15, 2013

San Francisco - April 15, 2013 - Duetto Research, a cloud-based technology firm focused on revenue management for the hotel industry, announced that Leland C. Pillsbury, the Chairman and CEO of Thayer Lodging Group, has joined its Board of Directors.

Mr. Pillsbury is a hotel industry visionary and investor. His accomplishments include leading Thayer to a twenty-one year track record placing it in the top 5% of all real estate fund sponsors; launching more than fifteen new companies, including internet services provider TIG Global, and Chinese central reservations system innovator HUBS1; and in cooperation with the principals of Quest Hospitality Ventures, launching Thayer Ventures, a venture capital fund targeting technology investors in the hospitality and travel space. Thayer Ventures is an investor in Duetto Research.

Pillsbury said, “The hotel industry is badly in need of operational intelligence and new solutions to help properties and brands maximize revenue - specifically, capturing opportunities during peak periods, stimulating demand when needed and, very importantly, resisting the temptation to lower rates too far during slow periods.”

He concluded, “Big Data is the gateway to these solutions, and Duetto is the pioneer in the space. Duetto's innovations are exactly the kind we had in mind when creating Thayer Ventures, and I am delighted to be part of the company's continued growth and market penetration.”

Duetto's CEO, Patrick Bosworth, said, “We are happy to announce that Lee Pillsbury has joined the Duetto Board. Lee brings unmatched insight as an industry-recognized leader in the need for smart pricing and distribution. He also brings personal relationships and alliances that are tremendously helpful in attracting essential advisors as we develop our products and spurring adoption of our flagship product, Duetto Edge.”

Bosworth concluded, “From the moment we met, Lee immediately understood the potential value of what we were building at Duetto, and his advice was critical in guiding our early product development and go-to-market strategies. We are tremendously grateful for his support.”

Founded in 2012, Duetto is building momentum in the displacement of legacy on-premise hotel revenue management systems, with its Duetto Edge solution. Duetto's SaaS product, Duetto Edge, utilizes Big Data to optimize demand and provide operational intelligence for hotels.

Duetto was launched by Bosworth, a former Wynn Las Vegas executive, along with former Wynn executive Marco Benvenuti, and former Salesforce.com Chief Technology Officer Craig Weissman. The Company uses Big Data to power Duetto Edge, which delivers better insights on demand, improves pricing optimization, forecasting and even hotel operations. Early adopters include Sonesta Hotels and Denihan Hospitality Group. Additional announcements are expected in coming weeks.

Duetto announced the closing of its Series A funding in December.

About Leland C. Pillsbury

Leland C. Pillsbury is the Chairman and CEO of Thayer Lodging Group, which he cofounded in 1991. Thayer's twenty-one year track record places it in the top 5% of all institutional real estate fund sponsors and recently announced the launch of its seventh institutional hotel real estate fund.

Prior to launching Thayer, he spent nineteen years at Marriott, where he became an Executive Vice President and Corporate Officer. While with Marriott, he led the company's entry into time sharing, Fairfield Inns, and Residence Inns. Since leaving Marriott, he has played a major role in the launch of more than fifteen new companies, in the U.S. and overseas.

Mr. Pillsbury is a member of the Cornell University Board of Trustees, Vice Chairman of the Investment Committee that oversees Cornell's $5.2 billion endowment, and a member of several other standing committees of the Board. He is a member of the School of Hotel Administration Dean's Advisory Board, the Real Estate Council, Cornell Fund representative, the Real Estate Subcommittee of the Investment Committee, and Board member of Cornell Rowing. Along with his wife, he has been named a Foremost Benefactor of the University.

Mr. and Mrs. Pillsbury endowed the Pillsbury Institute for Hospitality Entrepreneurship at the Cornell School of Hotel Administration, whose objectives are to educate students about entrepreneurship and provide hands-on experience through programs such as the Business Plan Competition, the International Entrepreneurship Program in South Africa, internships, and interaction with entrepreneurs-in-residence at the School.

Mr. Pillsbury is the Frank H.T. Rhodes Class of 1956 Visiting Scholar at Cornell University and teaches at Cornell's 7 undergraduate schools, the Johnson Graduate School of Business and the College of Veterinary Medicine. He is a frequent guest lecturer at numerous colleges and universities in the United States as well as China and Singapore. He also hosts dinners and informal discussion groups for interested students to provide mentoring, career advice, and networking opportunities.

Mr. Pillsbury is also member of the Dean's Advisory Board at J.L. Kellogg Graduate School of Management at Northwestern University, from which he received an MBA in 1982. The Kellogg School recognized him with the 2009 Schaffner Award, recognizing professional achievement and contribution to the School.

Mr. Pillsbury is a member of the New York Yacht Club, the Ocean Reef Club, the National Business Aircraft Owners Association, and numerous industry associations and organizations. He and his wife of 43 years, Mary Pillsbury, are both jet pilots and fly their own business jet. They hold the record as the first husband and wife pilot team to fly a single engine airplane across the North America.