SKYX Will Deploy its Technologies in its First European Hotel During a Master Renovation of The Grand Hotel du Parc, a Historical Hotel in La Bourboule, France - Part of Group OTT
Rhea-AI Summary
SKYX (NASDAQ: SKYX) will deploy its advanced plug-and-play smart building technologies during a master renovation of The Grand Hotel du Parc, a designated historic hotel in La Bourboule, France, operated by Group OTT. The three-phase project covers 100 existing rooms, an expected 30-room expansion, and hotel amenities.
SKYX expects to supply thousands of smart lighting and fixture units and cites technology claims of reducing up to 90% renovation time and cost while creating recurring revenue opportunities from upgrades, AI services, monitoring and subscriptions.
Positive
- First European hotel deployment with Group OTT partnership
- Supply of thousands of smart plug-and-play lighting and fixture units
- Claims up to 90% reduction in renovation time and cost
- Recurring revenue potential from upgrades, AI services, monitoring, subscriptions
- Partner experience: Group OTT developed >250 buildings valued >$4 billion
Negative
- No disclosed contract value or signed financial terms for the deployment
- Benefits described are forward-looking and not guaranteed
- Revenue impact and timing are unspecified for investors
Key Figures
Market Reality Check
Peers on Argus
SKYX fell 6.54% while peers ESP, ULBI, NEOV, NVX and RFIL also declined between about 2–5%, indicating today’s weakness is broadly shared across electrical equipment peers rather than entirely company-specific.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 04 | Conference participation | Positive | -6.5% | Selection to present at Sohn Investment Conference Emerging Company Pavilion. |
| Apr 22 | Hospitality agreement | Positive | +2.3% | Agreement with OTT Heritage Hospitality targeting extensive European hotel pipeline. |
| Apr 14 | Strategic partnership | Positive | +2.6% | Partnership with Group OTT to deploy smart technologies across hotels and buildings. |
| Mar 26 | Earnings report | Positive | -23.4% | Record 2025 and Q4 revenue with higher gross profit and capital raise. |
| Mar 23 | Corporate update call | Neutral | +1.8% | Announcement of upcoming call to discuss Q4 and full-year 2025 results. |
Positive commercial and partnership news has sometimes aligned with modest gains, but notable negative reactions followed both a major earnings beat and an investor conference selection.
Over the last few months, SKYX reported record 2025 revenue of $92 million and Q4 revenue of $25 million, alongside product launches and new partnerships. It then signed a strategic deal with Group OTT and a broader European hospitality agreement, both highlighting up to 90% renovation time and cost savings. A subsequent selection for the Sohn Conference saw shares decline. Today’s hotel deployment update extends the Group OTT collaboration, continuing the European hospitality expansion theme.
Regulatory & Risk Context
An effective S-3 shelf filed on 2026-03-26 registers up to $200,000,000 of various securities, allowing SKYX to raise capital in multiple future offerings via prospectus supplements.
Market Pulse Summary
This announcement extends SKYX’s European expansion by moving from framework agreements with Group OTT to a concrete hotel deployment at The Grand Hotel du Parc, initially covering 100 existing rooms with plans for 30 more. It showcases the company’s plug-and-play, AI-enabled platform and claims of up to 90% renovation time and cost savings. In context of recent record 2025 revenue and an effective $200,000,000 shelf registration, investors may watch for additional hotel wins, actual unit volumes, and financing decisions.
Key Terms
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forward-looking statements regulatory
AI-generated analysis. Not financial advice.
The Renovation is in Process and Will Include Rooms, Suites, Bars, Restaurants, Lobby, Ballroom, Spa, Gym, Meeting Rooms, Corridors, Among Other Hotel Areas
SKYX and Group OTT are Expected to Collaborate on Additional Hotels
The Hotel Formerly The Grand Medicis Hotel is a Designated Historic Property in the Heart of La Bourboule a Leading Thermal Spa Destination Centered on Health, Wellness, and Longevity Tourism
SKYX’s Technologies Expansion Provides Additional Opportunities for Future Recurring Revenues through Interchangeability, Upgrades, AI Services, Monitoring, Subscriptions, Among Others
SKYX Technologies Reduces Up to
MIAMI, May 05, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), an award winning highly disruptive advanced smart home and AI platform technology company with over 100 U.S. and global pending and issued patents and a portfolio of 60 lighting and home décor websites, with a mission to make homes and buildings become advanced-safe-smart instantly as the new standard, today announced it will deploy its advanced and smart technologies during a master renovation of an historical architectural preservation hotel The Grand Hotel du Parc, in La Bourboule, France.
The historical hotel, formerly The Grand Medicis hotel, currently has 100 rooms and suites and is expected to build 30 additional rooms. The hotel amenities and areas include bars, restaurants, ballroom, spa and gym, among other hotel facilities.
The Grand Hotel du Parc
During the course of the three-phase renovation and new build, SKYX is expected to supply thousands of units of its advanced smart plug & play technologies comprising ceiling lighting, ceiling fans, recessed lights, down lights, EXIT signs, emergency lights, indoor and outdoor lights, wall lights among other advanced smart products.
The Grand Hotel du Parc is based on an integrated approach combining hospitality, residential offerings, food & beverage, and immersive experiences. For more than 35 years, France-based Group OTT has developed more than 250 buildings throughout Europe, including hotels, residential, and commercial projects valued at over
Jean-François Ott, Founder of Group OTT, said; “I am very excited to make the first introduction of SKYX’s game-changing technologies for hotels and buildings during the grand opening of The Grand Hotel du Parc. We expect to deploy SKYX’s technologies in additional hotels of our group in the near future. By integrating SKYX’s technologies into these properties, we will cut significant time and cost while advancing the lifestyle and safety standards of our hotels and buildings.”
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said; “We are excited to deploy our technologies in our first European hotel collaboration in the historical hotel The Grand Hotel du Parc in La Bourboule, France. We look forward to continuing to grow our hotel segment in both the U.S. and Europe, based on our advanced technologies and including the significant time and cost saving during hotel renovations and new builds.”
For more information about Jean-François Ott and Group OTT click here: https://www.groupott.com/
For more information about SKYX click here: www.skyx.com
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s ability to achieve positive cash flows; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contacts:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
Ronald A. Both
Encore Investor Relations
rb@encore-ir.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/67ae0beb-025f-40e4-b3be-88d19124b856
