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Summer Revenues Down 10 Percent for LodgeNet

Summer Revenues Down 10 Percent for LodgeNet
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Sep 19, 2008 1:00 PM PDT    Text size: 
SIOUX FALLS, S.D. — Hotel media and Internet service provider LodgeNet Interactive Corp. this week reported that revenues from its entertainment sector were 10 percent lower in July and August than during the same period last year.

LodgeNet CEO Petersen described the summer months as a “challenging time” for the company’s bottom line as “lower hotel occupancies and a cautious consumer” generated less revenue than last year.

The company also announced expansion to hotel properties in Macao and Canada, and the addition of cable channels and on-demand advertising opportunities.

In his presentation before analysts at the CL King Best Ideas Conference in New York. Petersen said LodgeNet will install interactive high-definition TV systems at the 360-room Four Seasons Macao, bringing LodgeNet’s presence in the south China hotel/casino resort complex to a total of 3,500 rooms. LodgeNet already operates systems at the Venetian Macao and the Sands Macao hotels.

Petersen said the company has signed a multi-year contract with Host Hotels & Resorts, which resulted in the addition of 9,100 new rooms with LodgeNet Internet services in Canada in August. LodgeNet will add another 1,600 guest rooms and 70 conference rooms at Host properties that include three Marriott hotels in Toronto, Ontario and Calgary.

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