SKYX Platforms Corp. (NASDAQ: SKYX), a developer of advanced smart home and AI platform technologies, announced today that it has entered into an agreement with OTT Heritage Hospitality, a prominent European developer, to deploy and market its technologies across the European hotel market. This partnership is expected to accelerate SKYX's global expansion and bring its disruptive solutions to a sector with over 132,000 hotels and a significant pipeline of new rooms.
The agreement aims to penetrate the vast European hospitality market, with projections indicating 124,000 new hotel rooms opening in 2026 and over 250,000 additional rooms in development. SKYX and OTT Heritage Hospitality plan to deploy hundreds of thousands of products across hotels, buildings, and developments throughout Europe. The technologies offer time and cost efficiencies of up to 90%, making renovations and new builds more efficient.
OTT Heritage Hospitality, through its platform and network, provides access to a broad pipeline of hospitality projects across Europe. The company intends to actively market and facilitate the adoption of SKYX's technologies, which include advanced safety, smart home features, and AI services. These technologies are expected to generate long-term recurring revenue through monitoring, subscriptions, and AI services, as well as product upgrades and platform-wide integrations.
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 holds over 100 U.S. and global patents and pending patent applications, and owns 60 lighting and home decor websites. The company's technologies aim to make homes and buildings advanced-safe-smart instantly, with a focus on quality and ease of use. For more information, visit SKYX's website or OTT Heritage Hospitality's website.
