Roger Ralston, DirectView Holdings, CEO commented, “It is an honor to be chosen by this prestigious entity for this security upgrade to help fortify this location. In this highly security-conscious environment, we are very happy to be this hotel’s choice when it comes to the security of their staff and guests. This is just one of many NYC locations our team is currently working on at this time.”
Echoing Mr. Ralston’s final thought, recent governmental appropriations suggest that much of the security infrastructure and equipment put in place in reaction to the World Trade Center attacks of 9/11 has become outdated, suggesting that a security equipment product upgrade cycle may be getting traction in the New York City hospitality sector, with DirectView at the table.
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An indication of the need for upgrades to existing security equipment in New York is news that more than $24 million in federal funding was recently awarded to New York for safety and security deployment. Those grants complement a total $54 million included in the FY 2017 New York State Budget to beef up security and protect New Yorkers.
Top-tier hotels with deep pockets and large legacy investments in brand development such as DirectView’s newest recent project (a global luxury player worth nearly $23 billion) may also be scrambling to reduce legal damages. A Bar Association study found that the average settlement in suits specifically related to insufficient security on premises at a hotel was over $1.2 million, which doesn’t even include damages to the brand’s reputation or cultural cache.
Between lawsuit damages, consumer reputations for poor security, and the specter of heightened geopolitical event risk, management believes New York City hotels are ripe for a healthy upgrade cycle that may have material implications for the Company’s top-line performance over coming quarters.
About DirectView Holdings, Inc.
DirectView Holdings, Inc., (DIRV) together with its subsidiaries, provides video surveillance solutions and teleconferencing products and services to businesses and organizations. The company operates in two divisions, Security (Video Surveillance) and Video Conferencing. The Security division offers technologies in surveillance systems providing onsite and remote video and audio surveillance, digital video recording, and services. It also sells and installs surveillance systems; and sells maintenance agreements. The company sells its products and services in the United States and internationally through direct sales force, referrals, and its Websites. The Video Conferencing division offers teleconferencing products and services that enable clients to conduct remote meetings by linking participants in geographically dispersed locations. It is involved in the sale of conferencing services based upon usage, the sale and installation of video equipment, and the sale of maintenance agreements. This division primarily provides conferencing products and services to numerous organizations ranging from law firms, banks, high tech companies and government organizations. For more information visit our websites at http://www.DirectView.com, http://www.ApexCCTV.com, http://www.VS-US.com and connect with us on Twitter, LinkedIn, Facebook, and Google+.
Cautionary Statement Regarding Forward Looking Statements
Forward Looking Statements: This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company’s business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as “will,” “expect,” “anticipate,” or “may,” or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in our filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
DirectView Holdings, Inc.
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SOURCE DirectView Holdings, Inc.