IBAHN POWERS INTO SIXTH CONSECUTIVE PROFITABLE YEAR
INVESTMENT IN IPTV PLATFORM TECHNOLOGIES FOR GENERATION Y PAYS OFF
Salt Lake City (April 21, 2010) – iBAHN, the worldwide leader in IPTV and broadband solutions for the hospitality and meeting industries, today announced that it recently closed its sixth consecutive year of positive operating cash flow. The company has achieved this unprecedented milestone in an industry in which many competitors worldwide continue to struggle for survival.
The company’s strong growth results were fueled by a philosophy of continuing investment in converged and integrated solutions while competitors were forced to decrease research and development investments. This contributed to an increase of more than 54% in rooms installed with its IPTV offering, ETVi, along with an annual renewal rate exceeding 90% for its guest room services. Overall, iBAHN continued to benefit from global acceptance of existing and newly introduced technology solutions including ETVi, which allows hoteliers to generate incremental revenue by connecting the guest room IPTV platform to the Internet as well as other on-property hotel networks. On a combined revenue basis, which includes product and service revenue around the globe, the company posted a 52% net revenue growth from its IPTV offering.
“iBAHN’s ability to drive new technologies into the market reflects the depth of the company’s market knowledge and understanding,” said Peter Yesawich, president and CEO of YPartnership, America’s leading marketing, advertising and public relations agency serving travel, leisure and entertainment clients. “And, its continuous profitability is a testament to the financial acumen and prowess of the company’s management team.”
iBAHN is recognized by major hotel brands, ownership groups and management companies for its ability to meet the broad range of technology needs on every continent, a critical need as hotel brands require common customer experiences across property portfolios and geographies.
“Our financial success is a testament both to iBAHN’s service ethic and the people of iBAHN who support our customers’ needs,” noted David W. Garrison, iBAHN’s chief executive officer. “We continue to invest millions of dollars in the development of future product technologies to improve the competitive position of partner hotels and increase their revenue from add-on sales.”
iBAHN’s financial strength has several benefits for hoteliers: the IBAHN system reflects today’s technology and opportunities unlike competitors whose offerings are based upon selling movies on platforms designed for the last generation; iBAHN has the required resources to invest in new solutions; and, iBAHN’s global reach means it can share best practices from around the world with its local hotel partners.
About iBAHN
iBAHN is the only global provider of IP-based digital entertainment and Internet solutions for the hospitality and meeting industries. Monthly, nearly two million travelers and meeting attendees rely on iBAHN to increase productivity with secure high?speed Internet access options in more than 2,200 hotels, conference centers and meeting spaces in 40+ countries worldwide. IBAHN’s digital entertainment offering, ETVi, offers hotel guests leading digital video and entertainment services. Operating one of the largest MPLS networks in the industry, the company provides technology solutions to more than 50,000 events annually, ranging from small group meetings to major industry conferences, while serving more than a third of Fortune 100 corporations. For more information, please visit www.ibahn.com.
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Media Contact:
Shannon R. Michael
801.563.1019
[email protected]
