LodgeNet Interactive Corp. (LNET)
LodgeNet Interactive Corp Presents at J.P. Morgan TMT Conference
May 17, 2012 08:30 am ET
Monica DiCenso - JPMorgan
Scott Petersen - Chairman and CEO
Frank Elsenbast - Senior Vice President and CFO
Thanks for coming out, and I'm Monica DiCenso. One of the media analysts here at JPMorgan, and I'm pleased to welcome LodgeNet to our TMT Conference.
Today, from the company speaking is Scott Petersen, President and CEO, and Frank Elsenbast, Senior Vice President and CFO. Thanks again, guys, for coming.
Why don't we start off with a general question just for those of us that might be unfamiliar with LodgeNet? Can you give us maybe a couple of minutes on background as to how the business has evolved over the past five years?
Sure. Good morning and thanks for attending. LodgeNet is the leading provider of interactive and connectivity services to the hotel industry and also on expanding business within the healthcare space.
About five years ago, we purchased On Command, which is our largest competitor in the space, so together we have about 85% market share of hotels that have interactive television services, and that historically has classically been offering video-on-demand movies, but really interactive television is way beyond that from a scope of services, now really moved into productivity apps informational apps for consumers and travelers. In addition, we provide broadband interconnectivity services also for hotels. So it's kind of very broad description.