NxTV, Inc. Signs Master Agreement with The Falor Companies to Provide High-Definition
Entertainment and Internet Services to Prominent Hotel-Condo Properties
LOS ANGELES, Jun 20, 2005 (BUSINESS WIRE) - NxTV Inc., the leading provider
of digital IP-based entertainment and data services to the luxury hotel market,
today announced that it has signed a long-term Master Agreement with The Falor
Companies to supply HD video-on-demand entertainment and wireless Internet services
to a portfolio of hotel-condo properties in a number of key markets, including
Miami and Chicago.
Founded in 1983, The Falor Companies built a reputation as a successful hotel
operator and turnaround specialist focusing on third-party management and asset
management. In 2000, Robert Falor took the helm and has overseen the company's
transformation to an equity partner in upscale hotels and hotel-condo developments.
The Master Agreement with NxTV includes several of these prominent hotel-condos
including the Mayfair Hotel & Spa, the Royal Palm Hotel and the Breakwater
Hotel, all in Miami South Beach, and Alden's Hotel and the Hotel Blake in Chicago.
"The Falor Companies are delighted to announce this Master Agreement with
NxTV," said Chris Falor. "We decided that we needed the most state-of-the-art
high-definition entertainment system to complement the luxury experience that
we are creating for owners and guests at our 4- and 5-star boutique condominium
hotels. NxTV was the overwhelming choice."
NxTV is the leading IP provider in HD & Digital television-centered entertainment
and data services, with over 25,000 luxury rooms worldwide at hotels including
St. Regis, W, Peninsula, Four Seasons, Le Meridien, and JW Marriott. NxTV, Inc.
is headquartered in Los Angeles and has offices in Las Vegas, Dallas, Orlando
and Hong Kong, with New York and Chicago opening by the end of 2005.
The company will be launching several new development initiatives at this year's
HITEC show, including its new High-Definition set-top box displaying HD Hollywood
movies, VoIP services, HD Cable TV as well as a brand-new
Guest Interface and universal remote control. All services will be fully integrated
with both Plasma and LCD flat-panel TVs with LG, Panasonic, Philips and Sony
brands on display. The show, held in Los Angeles, will run from June 20th to
June 23rd, and NxTV can be found at Booth 725.
NxTV is owned by the Pivotal Group, an investment company with an aggregate
investment value of $1.5 billion in real estate, hotel and technology including
the Century Plaza Hotel Los Angeles, The Promontory in Salt Lake City and Internet
domain registrar company Network Solutions, Inc. which Pivotal recently purchased
from VeriSign, Inc. (VRSN).
About NxTV, Inc.
Founded in 1997, NxTV is the leading IP provider in HD & digital television-centered
entertainment and data services, with over 25,000 luxury rooms both in the United
States and Internationally. NxTV gives the hotel owner a high-definition system
that enables a flat panel TV to deliver to the guest a totally interactive and
dynamic experience, which adds guest value and drives the bottom line. The digital
IP-based system can deliver entertainment & data services to the guest-room
over a CAT5/6 Ethernet environment or a CAT3 telephone network. The company
has digital rights agreements with all of the Hollywood studios for both domestic
and international distribution. For more information please visit www.nxtv.com.
About The Falor Companies
The Falor Companies is a diversified hospitality firm that has established
itself as a leading entity in the United States involved in the acquisition
of select resort and urban hotels for full and partial conversions to condominium
hotels. For more information log onto www.falorcompanies.com.
SOURCE: NxTV Inc.
NxTV, Inc.
Richard Jenkins
818-737-8201
rjenkins@nxtv.com