SKYX Platforms Corp. (NASDAQ: SKYX), a provider of smart home and AI platform technologies, announced it will supply thousands of units of its advanced smart products during a master renovation of The Grand Hotel du Parc in La Bourboule, France. The hotel, previously known as The Grand Medicis Hotel, is a designated historic property and part of Group OTT, a European real estate developer that has built over 250 buildings valued at more than $4 billion.
The renovation, already underway, will include the hotel's 100 existing rooms and suites, with plans to add 30 more. SKYX will provide ceiling lighting, ceiling fans, recessed lights, down lights, EXIT signs, emergency lights, indoor and outdoor lights, wall lights, and other smart products across the hotel's bars, restaurants, lobby, ballroom, spa, gym, meeting rooms, and corridors. According to the company, the deployment is expected to reduce renovation time and cost by up to 90%.
This collaboration is significant as it represents SKYX's first entry into the European hotel market. The company's technologies are designed to be plug-and-play, allowing for easy interchangeability, upgrades, and integration with AI services, monitoring, and subscriptions. This model could generate future recurring revenues for SKYX. The company holds over 100 U.S. and global pending and issued patents and owns 60 lighting and home décor websites.
Jean-François Ott, founder of Group OTT, expressed enthusiasm about introducing SKYX's technologies during the hotel's grand opening. "By integrating SKYX's technologies into these properties, we will cut significant time and cost while advancing the lifestyle and safety standards of our hotels and buildings," he said in a statement. Group OTT and SKYX expect to collaborate on additional hotels in the future.
Rani Kohen, founder and executive chairman of SKYX Platforms, emphasized the strategic importance of the European expansion. "We look forward to continuing to grow our hotel segment in both the U.S. and Europe, based on our advanced technologies and including the significant time and cost saving during hotel renovations and new builds," he stated.
The Grand Hotel du Parc is located in La Bourboule, a leading thermal spa destination focused on health, wellness, and longevity tourism. The hotel's renovation follows an integrated approach combining hospitality, residential offerings, food and beverage, and immersive experiences. SKYX is continuing discussions with additional hotel groups and owners regarding the utilization of its smart technologies.
For more information about Group OTT, visit https://www.groupott.com/. Details about SKYX Platforms Corp. are available at https://www.skyx.com/.
