Archive for category News and Blog Posts
This is exactly what I expected after reading article after article about this year’s increase in hotel occupancy rates: hotels are increasing their improvement spending following a 4 year decline. According to USA Today, hotels are expected to spend around $3.5 billion this year on hotel improvements such as up carpeting, furniture, technology, etc. The industry was aggressively investing in room improvements in 2008 prior to the great recession, but then companies began holding onto their cash due to the unstable market. Now that things have calmed, hotel owners are willing to start putting money back into their properties. As far as I can tell, for the hotel industry, the great recession is over, which is a good sign for TiVUS.
Looking over the data for hotel absolute demand for July 2011, you wouldn’t even know we were still in a recession. A new record was broken, with 105,760,239 hotel rooms sold last month, which is up 3.6% from last July. Amazingly this is only the second time the industry has sold over 100 million rooms in a single month (the last time being last July). I think the best metrics are that the average daily rate for a room went up 3.4 percent to hit $102.50, and revenue per room finished up 4.8 percent at $70.86.
Of course this is good news for Tivus, as increased hotel room sales mean increased hotel revenue, leading to more technology spending. In general, boom times for hotels mean boom time for their vendors. The best part for Tivus, is that the luxury hotel market saw the greatest rise in demand, which is where Tivus is targeting the first installations. Now it’s time to turn these increased revenues into revenue for Tivus, which I know Phil Marriott is doing.
When I travel I always bring my laptop, and get frustrated I can’t connect it to the TV like I do at home. In these modern computer-centric times, using a hotel room’s TV as your computer’s monitor, or to connect a video gaming system (such as a Nintendo Wii, Sony PS3, etc.) is something many guests demand. This is why the TiVUS Solution includes a Plug Panel, allowing guests to connect their electronic devices to their TiVUS e-SmarTV.
Apparently other companies’ are agreeing with Host Hotels (as they are embracing the TiVUS Solution) and are installing their own Plug Panels. At the Riveria in Palm Springs, a HotelChatter contributor found a plug panel in their room. At the JW Marriott Marquis in Miami, a small company called TeleAdapt got their plug panels installed in all the rooms, allowing for Bluetooth connectivity to the in-room TVs. Hyatt Hotels has designed a rather robust panel that includes all the connectors you could possibly want. Marriott started installing plug panels back in 2008, and were planning to get them in all rooms by the end of 2009, I guess the recession stopped them.
Was searching around hotel technology blogs today and came across a few things y’all might be interested in reading about (along with some commentary).
More hotels distribute iPads to guests for ordering room service, amenities – The expense of buying iPads for guests to use seems ridiculous, when all the functionality it’s adding can be done on the TV for less money… that is, if the hotel is running the TiVUS Solution.
Radisson Opening First Blu in the US – This is simply a gorgeous hotel, and one that I think the TiVUS Solution would be a good fit. A luxurious hotel should have a luxurious system running on their TV.
[Hotel] Industry Recovery Ahead of Pace – It’s good to see Stephen saying hotels are making up lost ground faster than he expected. It means hotels will be able to more quickly upgrade their offerings to guests.
I’ll keep posting more industry news that I think TiVUS followers will be interested in. And feel free to comment on here.
It’s really exciting when Quality Stocks does a feature on Tivus, discussing the potential Tivus has for growth and expansion in the hospitality industry. QualityStocks focuses on “companies that have huge potential to succeed in the short and long-term future.” Their membership board is exclusive and invitation-only, and represents some of the more savvy investors on the internet.
My favorite line from QualityStock’s post has to be this one: “The company’s integrated platform stands far beyond the competition”. Go check out the full forum thread on QualityStocks and read all the comments, I think you’ll enjoy it too.
After today’s release of Tivus’ Q1 2011 Review, a lot of IPTV, technology, and business blogs have started to pay a little more attention to Tivus. It’s about time everyone started to notice the potential of Tivus, but I guess once you can start saying thousands of guests have used Tivus, people realize the potential. (I’ll post more as I find them)
The author highlights a lot of the things that we try and point out to investors and reporters whenever we talk. They point out the Host Hotels agreement shows Tivus “has recently begun to strengthen its foothold in the industry by landing this sort of arrangement with Host Hotels & Resorts, Inc.”. They even go so far to say that “The word “undervalued” is often tossed around too frequently in the stock market”, but that Tivus actually deserves the moniker. I suggest you go read the story, which you can find by clicking here.