NxTV Reaches 10,000 Hotel Rooms with IP-Based Entertainment System; Company Doubles
Customer Base and Adds Orlando-Based Hotel Group
LOS ANGELES, July 1, 2004 (BUSINESS WIRE) - NxTV, Inc., the leading provider
of digital IP-based entertainment solutions to the upscale hotel market, announced
today that it has reached a significant milestone of over 10,000 hotel rooms
either installed or under contract. This major development comes as the company
also announces the successful completion of an Agreement with Rosen Hotels &
Resorts to install the NxTV digital entertainment system in all seven of its
Orlando, Florida based hotels.
Rosen Hotels & Resorts currently owns and operates six properties in the
Orlando destination market. This includes the two leading convention hotels,
the Rosen Centre and Rosen Plaza and four tour and travel properties. The company
plans to open its seventh hotel, the Shingle Creek Resort, in early 2007 with
the resort's championship golf course, Shingle Creek Golf Club, already successfully
opened since 2003.
NxTV, Inc is also expanding internationally having recently announced an exclusive
licensing deal with NTT East in Japan and an initial installation at the Four
Seasons Hotel Tokyo at Marunouchi. The deal follows the company's expansion
in Central America, Bahamas, the Caribbean and Canada.
Within the United States, NxTV has also successfully completed agreements with
some of the World's leading upscale hotel brands such as Omni Hotels, Four Seasons,
W Hotels, Le Meridien and St. Regis to provide digital entertainment services
for some of their key properties.
NxTV, an IP-based interactive television system, delivers digital video-on-demand
with PVR features such as fast-forward, pause, rewind and 24-hour save capability,
high-speed Internet connectivity for both TV and Laptop, branded
hotel portal services, and satellite TV programming via DirecTV featuring an
interactive TV guide. The company is also currently beta-testing its IPTV product
which allows FTG to be digitally delivered to the guest-room over the same IP
network as video-on-demand and other digital services.
NxTV is owned by the Pivotal Group, an investment company with a focus on high-end
real estate, hotels and leading edge technologies, with an aggregate investment
value of $1.5 billion. Other recent Pivotal Group investments include the purchase
of the Network Solutions business unit from VeriSign, Inc. (VRSN) for $100 million
dollars.
About NxTV, Inc.
Founded in 1997, NxTV represents a quantum leap in television-centered entertainment
and information technology, empowering the hotel owner with a digital system
that transforms the ordinary TV into an interactive, dynamic, and profitable
asset. The digital IP-based system can deliver entertainment services to the
guest-room over both a CAT5 Ethernet environment and a CAT3 telephone network.
The company has digital rights agreements with all the major Hollywood studios
including Paramount, Disney, New Line Cinema, MGM, Universal Studios, Warner
Brothers, Miramax, DreamWorks, Dimension, Twentieth Century Fox, Hollywood Pictures,
Touchstone Pictures and the Independent Film Channel. Owned by the Pivotal Group,
a $1.5 billion investment firm with assets in the technology, hospitality and
real estate sectors, NxTV currently has over 10,000 rooms either installed or
under contract. For more information, please visit www.nxtv.com.
SOURCE: NxTV Inc.
NxTV, Inc.
Richard Jenkins
818-737-8201
rjenkins@nxtv.com