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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cambium Networks Corporation | NASDAQ:CMBM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.06 | -1.67% | 3.53 | 3.52 | 3.59 | 3.63 | 3.52 | 3.58 | 26,717 | 15:56:14 |
Led by MSP partners, Cambium Networks' Wi-Fi, switching and cloud management products are helping hotels and multi-dwelling units raise bar on customer satisfaction.
ROLLING MEADOWS, Ill., June 26, 2023 /PRNewswire/ -- Cambium Networks (NADSAQ: CMBM), a leading global provider of networking solutions, has registered growth in the hospitality and multi-dwelling unit (MDU) markets on the strength of its network connectivity solutions – that in turn has fueled record enterprise revenue growth for the company.
Coming out of the pandemic, the hospitality industry is transforming the way it interacts with travelers. Touch-less technology and the exponential growth of personal streaming have led to changes in connectivity requirements. Secure, digital connectivity is now mission critical, across entire properties, for both guests and operations. Meanwhile, owners and operators must contend with tightly managing costs while accelerating their network upgrades to accommodate these new requirements.
Both trends were key contributors to Cambium Networks' 60%–plus enterprise year-over-year revenue growth in 2021 and 2022, with 131% year-on-year growth delivered in the first quarter of this year. Indeed, at least one property owner affiliated with each of 4 of the top 5 global brands has successfully deployed Cambium Networks cloud managed Wi-Fi, switching at a site.
"Our growing presence in the hospitality and MDU industries reflect the strength of our product lines, offering these properties the network connectivity technologies they need to serve their customers," said Cambium Networks president and CEO Atul Bhatnagar. "With Cambium Networks, the diverse connectivity needs of large properties can now be managed from the cloud using a single pane of glass. As a result, property owners no longer must choose between cost and exceptional digital experiences."
Cambium Networks' rapid emergence in these markets can be primarily attributed to offerings designed specifically for networking service providers who serve property owners. These service providers thrive when the cost of deploying and managing exceptional services, at scale, is kept to a minimum. With intelligent automation such as automated provisioning and root cause analysis, staff productivity is improved, while Wi-Fi trouble tickets can be reduced by 30% or more.
"An international brand hotel, near London Heathrow Airport suffered from poor Wi-Fi speeds and weak coverage across the property that negatively impacted their conference revenue and guest satisfaction," said Alex Huxham, Technical Director, Taran Microsystems. "Over the course of three weeks, we upgraded the hotel and 20,000 square feet of event space with Cambium Networks Wi-Fi 6 and Wi-Fi 6E, 6 GHz Wi-Fi. The project was completed in time for a 600-attendee conference. The Head Manager of this hotel was ecstatic to report the positive feedback and bookings for repeat business. Using Cambium Networks products enables this hotel to confidently book new conference business, driving event revenue, food and beverage (F&B), and higher revenue per available room (REVPAR)."
With guests expecting uninterrupted connectivity – whether they are relaxing in the outdoor spaces at a resort or following their favorite pros at a golf tournament – hotels are expected to provide reliable, multi-range, and easily accessible connectivity. Cambium addresses outdoor needs with its Cambium ONE Network platform, which includes Wi-Fi that delivers up to 1 mile links along with multi-gigabit fixed wireless backhaul, blanketing entire properties with reliable connectivity.
Below is additional perspective from Managed Service Providers (MSPs) who have deployed Cambium Networks solutions for their hospitality customers:
For more information:
About Cambium Networks
Cambium Networks enables service providers, enterprises, industrial organizations, and governments to deliver exceptional digital experiences and device connectivity with compelling economics. Our ONE Network platform simplifies management of Cambium Networks' wired and wireless broadband and network edge technologies. Our customers can focus more resources on managing their business rather than the network. We deliver connectivity that just works.
Media Contact:
Dave Reddy
Big Valley Marketing for Cambium
+1 (650) 868-4659
dreddy@bigvalley.co
View original content to download multimedia:https://www.prnewswire.com/news-releases/cambium-networks-drives-increased-momentum-in-hospitality-and-mdu-markets-on-surging-demand-for-connectivity-solutions-301862614.html
SOURCE Cambium Networks
Copyright 2023 PR Newswire
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