Lo-Q (LON:LOQ) has secured its fourth new park agreement in recent weeks, having won Movie Park Germany as its new customer.
The AIM listed provider of virtual queuing systems for theme parks will install its innovative, electronic VQ2020 queue management system at the park, which is a part of Parques Reunidos, Europe's second largest leisure park operator. The agreement brings the total number of Lo-Q installations at Parques Reunidos venues to three.
“We are delighted to add Movie Park Germany to the list of parks benefitting from our queue-reducing, revenue-enhancing solutions," said chief executive of Lo-Q Tom Burnet.
“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.”
Movie Park Germany was visited by over 1.2 million individuals last year. The installation should be ready for the start of the park’s 2011 visitor season.
Lo-Q will train Movie Park Germany employees in how to effectively manage, deploy and market the system to park visitors.
VQ2020 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 are subsequently able to enjoy a greater number of amenities within the park and thereby generate increased revenue for the theme park operator.
Another solution offered by Lo-Q is Q-txt. This enables virtual queuing in the same way as Q-bot, although it uses the visitor’s mobile phone instead of the Q-bot handheld device. Users can book their place in line by sending a simple text and the Q-txt computer then allocates a place in line for the user.
Shares in Lo-Q have performed very well so far this year, surging from 97 pence at the beginning of January to the current 157 pence.