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.
- Salt Lake City-Ogden, UT (1888PressRelease) November 03, 2010 - iBAHN, the world's most reliable and respected provider of digital information and entertainment services for the hospitality industry, has secured a $20 million credit facility with JP Morgan Chase & Co. The new multi-year credit facility will be used for continued growth and installation of iBAHN's IPTV platform in premium hotels throughout the world. Financially stable with six consecutive years of profitable operation, the new credit facility is a reflection of the company's solid financial position.
"During challenging times for the hospitality industry, we are pleased to have secured this new credit facility with a leading global financial institution," said David Garrison, iBAHN chief executive officer. "This funding will enable us to expand our role as one of the fastest growing hospitality IPTV providers in the world."
Proceeds from the credit facility will be used for capital expenditures related to contractual agreements to provide services to hotels and similar establishments throughout the world. iBAHN presently operates in 41 countries on six continents.
About iBAHN
The company is the only global provider of fully IP-based information and entertainment solutions for the hospitality and meetings industries. Nearly two million travelers and meeting attendees rely on iBAHN to stay connected and productive with its secure high-speed Internet access options in 2,000+ hotels, conferences centers and meetings spaces in more than 41 countries worldwide. iBAHN's digital entertainment services feature leading programming on six continents. Operating the largest MPLS network in the industry, iBAHN provides technology solutions to approximately 50,000 events annually, ranging from small group meetings to major industry conferences, while serving more than 40% of the Fortune 100 corporations.
For more information, please visit www.ibahn.com
Media Contacts:
iBAHN
Shannon R. Michael - Corporate & Americas Communications
801.563.2019 - office
801.205.6710 - mobile
smichael ( @ ) ibahn dot com
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