Fifth Consecutive Year of Profitability for iBAHN

  • iBAHN
  • 01.14.09
iBAHN, a worldwide leader in digital entertainment and Internet solutions for the hospitality and meeting industries, announced its fifth consecutive year of profitability.

The company also reported its second year of profitable results in its European business unit in 2008. The company has achieved this unprecedented milestone in an industry in which most competitors are not profitable and are struggling to survive.

"iBAHN's recent performance reflects the growing appeal of fast, reliable and secure Internet connectivity from hotels and resorts, particularly for seasoned travelers," said Peter Yesawich, president and CEO of Ypartnership, America's leading marketing, advertising and public relations agency serving travel, leisure and entertainment clients.  "And, its profitability is a testament to the prowess of the company's management, as supplier turnover in the category has been significant."

iBAHN is one of two companies recognized worldwide by major customers for its ability to meet the needs of major brands on every continent in the world. As more brands demand the ability to create common customer experiences across property portfolios, the importance and value of having a single provider grows.
 
Additionally, partnering with a global provider can significantly reduce costs for brands and property owners. The iBAHN profitability is the result of close attention to meeting customer objectives, a service orientation, and business models that make sense for all parties - its customers, their customers and the company itself. Even with a focus on profitability,

"Our ongoing financial success is a testament to our customers' support of our reliability and service ethic as well as the people of iBAHN who support our customers' needs. The company has also invested millions of dollars in 2008 in product development to build on its proprietary end-to-end secure managed network with new applications to address both current and upcoming needs of its customers and partners and to assure future profitability," said David W. Garrison, iBAHN's chief executive officer.

Additionally, the company finished 2008 - the tenth anniversary of its founding - in the strongest cash position of its history, and has recently renewed its credit capabilities, all during a period of rough economic conditions in nearly all of its markets.

iBAHN's financial strength has several benefits for hoteliers:  IBAHN is likely to be a longer term partner in developing solutions in conjunction with the hotelier; iBAHN has the required resources to invest in new solutions; iBAHN's global reach means it can share best practices from around the world with its local hotel partners.



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