SKYX Platforms Corp. (NASDAQ: SKYX), a provider of advanced smart home and AI platform technologies, has entered into an agreement with OTT Heritage Hospitality, a European development group, to deploy and market its technologies across the European hospitality market. The agreement aims to penetrate the vast European hotel segment, which includes 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, with the goal of deploying hundreds of thousands of units. 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. These technologies are expected to offer significant time and cost efficiencies of up to 90% for hotel renovations and new builds.
"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," said Jean-François Ott, Founder of OTT Heritage Hospitality, in a statement. "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."
SKYX's technologies are expected to provide long-term recurring revenue opportunities through monitoring, subscriptions, and AI services, in addition to product upgrades, interchangeability, and platform-wide integrations for future development. The company holds over 100 U.S. and global pending and issued patents and owns a portfolio of 60 lighting and home decor websites.
"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," said Rani Kohen, Founder and Executive Chairman of SKYX Platforms. "We look forward to partnering with such an established European hotel and real estate developer."
The agreement comes as the European hospitality market is projected to see 124,000 hotel rooms opening in 2026, with over 250,000 additional rooms in the development pipeline industry-wide. SKYX's technologies aim to address this growing demand by enabling properties to become advanced, safe, and smart instantly.
For more information about OTT Heritage Hospitality, visit www.ottheritagehospitality.com. For more information about SKYX, visit www.skyx.com.
