HS3 Technologies Executes LOI with Sheraton and Holiday Inn Independent Operator Larken, Inc.
Will Provide Hotel Security Surveillance
DENVER, CO, December 6, 2005. HS3 Technologies Inc. (HS3)announced today that the company has executed a Letter of Intent with independent hotel operator Larken, Inc. of Cedar Rapids, Iowa to install HS3's proprietary hotel video surveillance system. The Letter of Intent was executed by both entities on Dec. 5, 2005 and is anticipated to close in mid-January 2006. The agreement calls for HS3 to provide services for a minimum of 24 months.
HS3 Technologies will install its proprietary satellite-based hotel video surveillance system at Larken's Sheraton Hotel in Springfield, Missouri and its Holiday Inn in Dubois, Pennsylvania. HS3's real-time video security system will allow local hotel management access to security video surveillance, but more importantly enable senior management in Cedar Rapids, IA remote access to monitor hotel security and employee productivity.
From its headquarters in Cedar Rapids, IA, Larken, Inc. operates and manages hotels across the United States. In addition to the Sheraton in Springfield, MO and the Holiday Inn in Dubois, PA, the company operates the Clarion in Bloomington, MN and the Holiday Inn in Lakewood, Colorado.
Mr. Mark Lana, CEO of HS3 Technologies, stated, "We are very excited to move forward with Larken, Inc. Our multi-industry target market for our video surveillance system is expected to lead us to significant revenue generation. We anticipate these two hotels will be the very beginning of our hospitality video surveillance contracts."
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