Hotel and conference tech provider iBahn hopes to aggressively expand its IPTV business around the world courtesy of a $20 million line of credit from JP Morgan Chase.
The Utah, US-based organisation announced the deal last week as it looks to massively increase the number of hotels using its various systems.
The core product in the iBahn system is its high-speed broadband internet access technology, currently used in around 3,000 hotels in 45 countries around the world.
iBahn says the new multi-year credit facility from JP will be used for growth and installation of the company's IPTV platform in premium hotels in the EMEA region and elsewhere around the world.
The company says it has been "financially stable with seven consecutive years of profitable operation" and the loan is a "reflection of the company’s solid financial position", allowing it grow quickly as hotel chains demand faster and better systems.