SKYX Platforms Corp. (NASDAQ: SKYX) has entered into an agreement with OTT Heritage Hospitality, a prominent European developer, to deploy and market its advanced and smart home technologies across the European hotel chains segment and buildings. The agreement represents a significant step in SKYX's global expansion strategy, aiming to penetrate the vast European hospitality market comprising over 132,000 hotels, with hundreds of thousands of additional rooms in the development pipeline.
Under the terms of the agreement, SKYX and OTT Heritage Hospitality expect to deploy and market SKYX's disruptive technologies into hundreds of European hotels, buildings, and developments. The goal is to deploy hundreds of thousands of units across European hotel and real estate developments. OTT Heritage Hospitality will leverage its platform and network to provide access to a broad pipeline of hospitality projects across Europe, actively marketing and facilitating the adoption of SKYX's technologies across hotel, building, and development opportunities. These technologies offer significant time and cost efficiencies of up to 90%, particularly beneficial for hotel renovations and new builds.
Jean-François Ott, Founder of OTT Heritage Hospitality, stated, "As a long-time developer of hotel and real estate projects, I see a tremendous opportunity in marketing and facilitating the penetration of SKYX's highly disruptive technologies into hotels and real estate projects across Europe. By leveraging significant time and cost efficiencies of up to 90% for hotel renovations as well as new builds, we can enable properties to become smarter, safer, and more technologically advanced."
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, commented, "This partnership marks a significant step in our global expansion strategy as we continue with our goal and mission to advance hotels, homes, and buildings by making them smarter and safer. We look forward to partnering with such an established European hotel and real estate developer."
SKYX's technologies are expected to offer long-term recurring revenue opportunities through monitoring, subscriptions, and AI services, in addition to product upgrades, interchangeability, and platform-wide integrations for future development. With over 100 U.S. and global pending and issued patents, and a portfolio of 60 lighting and home décor websites, SKYX aims to make homes and buildings become advanced-safe-smart instantly as the new standard.
For more information about OTT Heritage Hospitality, visit www.ottheritagehospitality.com. For more information about SKYX, visit www.skyx.com.
