GigNet Announces the Launch of its “GigNet Capital” Program at Royal Uno by Royal Resorts

This new financing concept enables GigNet to provide clients with an innovative alternative for financing digital infrastructure upgrades while providing enhanced cash flow management

CANCUN, Mexico--(BUSINESS WIRE)--GigNet, a Digital Infrastructure company with an extensive regional fiber-optic broadband network from Costa Mujeres, north of Cancun, through the Hotel Zone of Tulum, announced today it is launching its “GigNet Capital” program at Royal Uno® All Inclusive Resort & Spa by Royal Resorts®. This program allows GigNet to expand its customer base in the region by using its capital to acquire and upgrade installed digital infrastructure in exchange for long-term managed services contracts. Hotel and resort operators and developers benefit from the opportunity to receive cash payments they can use for working capital or other facility upgrades.

Mark Carney, OBE, President of GigNet Mexico, added, “The hospitality industry has gone through many important changes since the onset of the pandemic and connectivity upgrades have become a necessity. The best time to enhance a network is while the property is in its building or remodeling stage which makes Royal Uno a perfect candidate for our “GigNet Capital” program. While the hospitality industry in the Cancun region has led the world in a return to international travel, cash flow management remains critical to hotel operators and developers. With this new program, operators are assured that their broadband and digital infrastructure is future-proof and prepared for a future wave of IoT applications. The “GigNet Capital” program is a win-win for GigNet and our clients and proves we are a market leader in partnering with the highest quality operators in the region. Royal Resorts is already a GigNet client, and we are proud to have been chosen to work with them on this new project.”

Dr Kemil Rizk, CEO of Royal Resorts, said, “This new “GigNet Capital” program gives us the opportunity to focus on what we do best, while GigNet ensures the best infrastructure for seamless and reliable connectivity for our operations and most importantly our guests, who rely on high-speed broadband more than ever.” Dr. Rizk added, “GigNet is using their capital for the project so we focus our investments on other aspects of a world class guest experience, and GigNet will operate a custom-built fiber-optic network at our property to meet current and future connectivity needs, supported by the newest and best fiber-optic network in the region.”

Royal Uno All Inclusive Resort & Spa is the latest Cancun family resort from Royal Resorts. The resort is nestled on one of Cancun’s finest beaches with incredible views and world class amenities. Opening in February 2022, Royal Uno will offer all-inclusive luxury and an array of features for an unforgettable vacation.

ABOUT ROYAL RESORTS

Founded in Cancun in 1975, Royal Resorts® is a pioneer in Mexican tourism and a leader in the international vacation ownership industry. All the Royal Resorts are beachfront properties offering accommodation in spacious and fully equipped two-bedroom units, and a full range of amenities ranging from pools, tennis courts, water sports, daily activities for all ages, spas, gyms, restaurants, and bars. Royal Resorts has more than 60,000 members from 51 countries at its resorts in Cancún and the Riviera Maya, and independent surveys report a 97 percent member satisfaction rate, one of the highest ratings received in the vacation ownership industry worldwide. The Company has received numerous accolades including the coveted Gold Crown Award by RCI (Resorts Condominium International www.rci.com).

ABOUT GIGNET

GigNet is the Mexican Caribbean brand of GigNet, Inc., a U.S. based international Digital Infrastructure company. Through its Mexico operating subsidiaries, GigNet, S.A. de C.V., and Sanalto Redes Peninsular, S.A.P.I. de C.V., the Company is a fully licensed telecommunications provider in Mexico. GigNet is actively adding customers to its extensive regional broadband network in the Mexican Caribbean, one of the largest and fastest growing tourism destinations in the world, with over 25 million annual airport visitors. GigNet is a leader in the digital transformation of the region.