TiVus is moving fast on the install at the Philadelphia hotel owned by Host Hotels & Resorts (which is the largest real estate investment trust group in the country, in case you forgot). Apparently, now 500 rooms are live at the hotel, which is over a 1/3 of the hotel’s total rooms. The projected completion date is sometime late in the summer of this year. Keep in mind the TiVus install crew is working in tandem with the hotel’s remodeling crew, so the speed isn’t entirely up to TiVus. Check out the full release below the fold or on TiVus’ Site.
Tivus, Inc. (PINKSHEETS: TIVU) today announced it has completed more than 500 rooms of its new high-definition (HD) Internet-protocol television (IPTV) content-on-demand (COD) in-room entertainment solution at a Host Hotels & Resorts property in downtown Philadelphia, Pennsylvania.
“Tivus’ technical team continues the 1408 room inaugural installation of our new HD IPTV COD system in Philadelphia,” commented Shiva Prakash, Tivus’ president and chief executive officer. “I believe the newly remodeled rooms with our technically advanced HD IPTV COD systems are not only user-friendly, offering easily accessible connections for personal electronics, but aesthetically attractive and complement the hotel’s room decor.
“Revenue examples of our unique-to-the-industry ad-revenue-based business model, are available here.* For example, a basic, fully implemented Tivus HD IPTV COD installation earning an average of $3.50 per-day generates annual gross revenues of $1.2M for every 1,000 rooms live.
“Our agreement with Host Hotels to deploy Tivus’ new HD IPTV COD systems was previously announced in a March 2011 press release.
“I expect to maintain our installation schedule and meet the projected late-summer completion date. With corporate, sales, & installation activities in full swing, I look forward to soon providing further updates on this and our other initiatives,” Prakash concluded.
About Tivus, Inc. – Tivus, Inc. is a technology entertainment services company providing Internet-based TV and Cable programming, interactive game content, and goods & services to the hotel/hospitality industry. Tivus’ unique HD IPTV system is a complete hotel entertainment platform that, for the first time in the industry, generates previously untapped income for the hotel through ad revenue-sharing. For more information, please visit www.tivus.com and www.tivusconnect.com, or check us out on Facebook at www.facebook.com/tivusconnect or follow us on Twitter at www.twitter.com/tivusinc.
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*(Note: this is a revenue model example, not projections for any specific installation.)