VANCOUVER, BC, February 8, 2021, Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement, and automated venue tracing to the brick and mortar space, is pleased to announce the Company has been selected by Big White Ski Resort (“Big White Ski Resort”) to deploy its venue management platform for the purposes of providing its visitors and staff with complementary COVID-19 safety protocols through its venue management platform while also creating significant revenue opportunities for both parties.
BIG WHITE SKI RESORT SELECTS LOOP, IN PARTNERSHIP WITH TELUS, TO PROVIDE VENUE MANAGEMENT PLATFORM TO ESTABLISH INFRASTRUCTURE TO PROTECT STAFF AND GUESTS
In support of Big White Ski Resort and British Columbia’s tourism industry, Loop Insights will deploy its venue tracing solution across Big White Ski Resort and its facilities, aiding the resort to continue to ensure the safety of its staff and customers.
Having recognized the importance of accurate venue tracing protocols in the fight against COVID-19, Loop will work with Big White Ski Resort to maintain the safety of all guests and staff using the Loop venue management platform. The ultimate goal of the deployment is to provide an enhanced customer experience through guest and staff check-ins and to continue to mitigate the spread of COVID-19.
Loop’s venue tracing technology is based on a science and data-driven approach to provide businesses with complementary safety protocols. Through this latest deployment, Loop is working with Big White Ski Resort to ensure the appropriate infrastructure is in place to continue to mitigate the spread of COVID-19 through real-time alerts and automated safety updates sent via the platform.
Michael J Ballingall Senior Vice President of Big White Ski Resort stated “After being introduced to Loop Insights’ venue management platform through our partnership with TELUS and its IoT Marketplace, Big White Ski Resort recognized its ability to provide us with the peace of mind necessary to deliver the best ski resort experience possible. Also, we are excited about the opportunities by leveraging Loop’s platform to create new revenue streams through unique marketing opportunities.”
VENUE MANAGEMENT REVENUE MODEL HAS POTENTIAL TO GENERATE $7,200,000 – $9,600,000 OVER TERM OF AGREEMENT FOR LOOP AND BIG WHITE SKI RESORT
Under the terms of the agreement, both parties anticipating generating revenue through:
- Monthly SaaS revenues
- Fees generated per active Wallet pass
- Joint marketing opportunities via the Wallet pass
As British Columbia’s second-most popular ski resort, Big White Ski Resort hosts thousands of guests per year. As part of the deployment, Loop will enable Big White Ski Resort to maintain a direct line of communication with its guests both on and off the hill, year-round.
Loop conservatively estimates ARPU (Annual Revenue Per User) of circa $3-$4 resulting in anticipated newline revenues for Loop and Big White Ski Resort with the potential to reach more than 600,000 annual visitors. With hundreds of thousands of anticipated visitors to Big White Ski Resort during the term of this agreement, Loop conservatively estimates total potential revenues for Loop and Big White Ski Resort could reach between $7,200,000 – $9,600,000.
Loop Insights will deploy NFC-enabled SmarTap devices at check-in locations across Big White Ski Resort’s lifts, lodging facilities, and dining areas to provide Big White Ski Resort with a complete real-time picture of its operations. Loop will provide all necessary hardware and software required to create a customized venue management platform capable of providing complementary venue tracing services that will continue to maintain safe operations across the entire mountain through integrated check-in points.
Loop’s Wallet pass platform will allow Big White Ski Resort to create a direct line of communication with guests which can be used to deliver public health and safety information, weather updates, personalized engagement, and targeted marketing opportunities through brands and partners.
Loop Insights CEO Rob Anson stated: “We are proud the see the success TELUS has had offering Loop’s products through its IoT Marketplace to such key clients such as Big White Ski Resort. The magnitude of this win cannot be overstated. Big White Ski Resort is not only a top Canadian ski resort but also a globally-renowned ski resort that will garner significant attention to our solution. Moreover, as a British Columbia company, Loop is proud to help one of the Province’s biggest tourist attractions via the implementation of our solution stack.”
BIG WHITE SKI RESORT AGREEMENT MARKS CONTINUED SUCCESS OF TELUS PARTNERSHIP AND A MAJOR MILESTONE FOR CANADIAN HOSPITALITY INDUSTRY IN NEED OF SOLUTIONS
Big White Ski Resort represents an important milestone and major step in the Loop Insights – TELUS Partnership.
On October 15, 2020, Loop announced the significant milestone of having been accepted into the Telus IoT Marketplace. The Company’s first product accepted into the IoT Marketplace was our contact tracing product, which has received significant exposure to many of TELUS’ largest customers and ongoing significant discussions with them. The third-party validation that came with this acceptance has been instrumental in Loop’s contact tracing discussions with large corporate customers around the world.
On December 3, 2020, Loop announced the Launch Of A Second Product Into The TELUS IoT Marketplace For National Sales and Marketing To TELUS Business Customers. The Company’s second product accepted into the IoT Marketplace was our Insights service which consists of our IoT Fobi device, Loop Cloud API, and AI Insights Portal that provide automated marketing capabilities.
On January 4, 2021, Loop announced that TELUS Launched Expanded Sales and Marketing Campaign Showcasing Loop Insights’ IoT Solutions Stack Utilizing Both Direct and Indirect National Sales Channels. Specifically, in addition to mobilizing its own nationwide direct sales force and national marketing tools, TELUS is also launching an expanded sales & marketing campaign through The Acquisition Group (“TAG”).
Moreover, this implementation represents the first-ever end-to-end COVID-19 venue management solution in a live environment for a Canadian ski resort, representing a major milestone for Loop Insights given the global demand for venue solutions from enterprise-level organizations around the world.
“Since the onset of the pandemic, we’ve been working with AWS to develop a solution that will allow for a safe reopening of the economy, particularly within the travel and hospitality industry. Our customers in the industry are looking to maintain a safe and secure environment to welcome back their guests. Operators dependent on large crowds, including hoteliers hosting business travelers for conferences or other large events, face greater challenges. Although hotels have adapted to follow stringent health and safety measures, continued technological innovation is needed to further reduce occupancy limitations and host large groups again.”
This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion
About Big White Ski Resort
Big White Ski Resort is Canada’s favourite family resort for skiing and snowboarding with a complete ski-in, ski-out village. Big White Ski Resort is home to Canada’s second-largest lifting system including 16 ski lifts in operation covering a total of 119 runs covered in Okanagan champagne powder. In total, Big White Ski Resort has an operational capacity of over 21,7000 skiers per hour.
About Loop Insights
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, venue tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.
Loop Insights Inc.
Forward Looking Statements/Information:
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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