iBAHN Secures a $20 Million Credit Facility to Support Global Distribution of its IPTV Platform to Leading Hotels
iBAHN's Integrated IPTV Platform Enables Hotel Owners to Drive Revenue, Property Differentiation and Guest Satisfaction
The new multi-year credit facility will be used for continued growth and installation of iBAHN's IPTV platform in premium hotels in the EMEA region and throughout the world.
Financially stable with seven consecutive years of profitable operation, the new credit facility is a reflection of the company's solid financial position.
Graeme Powell, Managing Director EMEA, iBAHN comments: "We are pleased to have secured this new credit facility with a leading global financial institution in challenging times for the hospitality industry. This will enable us to expand our role as one of the fastest-growing hospitality IPTV providers in the world. I look forward to using a good proportion of this centrally-agreed funding to help EMEA continue with its rapid growth."
Proceeds from the credit facility will be used for capital expenditures related to contractual agreements to provide services to hotels and similar establishments. iBAHN presently operates in 42 countries on six continents.
The company is the only global provider of digital information/entertainment and Internet solutions for the hospitality and meeting industries. Monthly, more than 1.8 million travelers and meeting attendees rely on iBAHN to increase productivity with secure high-speed Internet access options in nearly 3,000 hotels, conference centres and meeting spaces in 42 countries worldwide. iBAHN's digital entertainment and information services feature leading programming in the Americas, Europe, Asia, Australia and India. Operating one of the largest MPLS networks in the industry, the company provides technology solutions to more than 50,000 events annually, ranging from small group meetings to major industry conferences, while serving more than 40% of Fortune 100 corporations. For more information, please visit www.ibahn.com.