Lo-Q agrees virtual queuing system deal with German theme park

Thursday, Mar 31 2011 by
1
LoQ agrees virtual queuing system deal with German theme park

LO-Q (LON:LOQ), the AIM-listed company behind the development of technology that takes the pain out of having to wait in long queues at theme parks and major attractions, has won a contract to install its system at Movie Park Germany. The contract is Lo-Q’s fourth new park agreement in recent weeks and follows a three-year contract extension earlier this month to supply its virtual queuing system to Dollywood of Tennessee, the US state’s largest tourist attraction. Movie Park Germany marks Lo-Q’s third installation within the Parques Reunidos portfolio, Europe’s second largest leisure park operator.

Under the terms of the agreement Lo-Q will set the park up with its VQ2020 system, which allows visitors, for a fee, to queue virtually for park rides and experiences, without the need to stand in line. With the time saved, visitors can enjoy a greater number of amenities within the park and thereby generate increased revenue for the theme park operator. As well as installing the system, Lo-Q will train Movie Park Germany employees in how to manage, deploy and market the system to park visitors. More than 1.2 million individuals visited Movie Park Germany in 2010 and the company expects to have completed installation ready for the start of the park’s 2011 peak visitor season.

Lo-Q already supplies its systems to Parques Reunidos venues at Mirabilandia in Italy and Parque de Atracciones in Madrid, Spain. In total, Parques Reunidos operates 71 theme parks, water parks and nature and adventure parks across Europe, South America and the US.

Tom Burnet, the chief executive of Lo-Q, said: “We are delighted to add Movie Park Germany to the list of parks benefitting from our queue-reducing, revenue-enhancing solutions. We are particularly pleased at the extension of our relationship with Parques Reunidos, signalling a clear vote of confidence in our technology and our ability to both enhance a park visitor’s experience as well as increase a park operator's revenue generating opportunity.”

In an interview with Stockopedia earlier this month, Mr Burnett, who joined Lo-Q last summer, said it was his priority to notch up new sales of the company’s systems. Today’s news pushed up the Lo-Q share price by 2p to 157.5p.


Filed Under: Travel & Leisure,
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Accesso Technology Group plc, formerly Lo-Q plc, is engaged in the development and application of virtual queuing technologies. The Company develops virtual queuing technologies for a theme park or other attraction. The Company designs, installs and operates systems, which allow members of the public to make ride and show reservations when they visit a theme park or other attraction. Its flagship product, VQ is a virtual queuing system for theme parks. Its hand-held units, called Q-bots, are used in theme parks around the world. The Company has overseas operations in the United States, Canada, Italy, Germany, Spain and Australia. In December 2013, Accesso Technology Group plc acquired Siriusware, a North American provider of ticketing and point-of-sale (POS) software and hardware solutions and professional services to the leisure industry. more »

Share Price (AIM)
512.5p
Change
0.0  0.0%
P/E (fwd)
17.9
Yield (fwd)
n/a
Mkt Cap (£m)
104.5



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