What a difference a couple of years can make. Until this year the hotel industry was facing major reductions in traffic, as business travelers and tourists handled sharp budget constraints by staying home. But now, to the surprise of some, the industry finds itself in a new world. Rooms are filling up quickly as businesses compete for opportunities that are just now starting to bubble up, and families schedule long postponed trips. In August, over 105 million hotel rooms were sold, with July nearly as good. As a result, hotels are starting to cut back on desperation promotions, allowing revenue per available room to rise and net income to increase.
It’s a long needed boost to the bottom line of many hotels, which have been depending largely on the performance of foreign markets. Marriott, for example, posted a 13% increase in Q2 net income, but could use additional support from the domestic side. In addition, as hotels and resorts improve their revenue and income, vendors benefit. U.S. hotels are expected to increase their spending on improvements by 30%, up to $3.5 billion, according to a recent USA Today Travel article, based on an estimate from New York University’s Tisch Center for Hospitality, Tourism, and Sports Management.
TiVUS, Inc. is in a perfect position to benefit from this significant upswing in spending. The company has led the charge in the upgrading of hotel and resort entertainment technologies, offering advanced HD IPTV systems that allow integrated Internet functionality for guests and highly targeted revenue-generating advertising for hotels. Marriott has been working closely with the company to revolutionize the hotel electronic environment, allowing guests to easily access streaming Netflix films, along with Facebook and other Internet options.
TiVUS is already installing their newly developed technology offerings in major hotels, most recently a 450 room installation of their e-SmarTV system at the Downtown Doubletree Hotel & Executive Meeting Center in Omaha, Nebraska.
For more information, visit the company’s websites at www.Tivus.com and www.TivusConnect.com
Let us hear your thoughts: Tivus, Inc. Message Board