StockNews.AI
OTIS
StockNews.AI
88 days

Space Needle Opens First Otis Double-Deck, Panoramic Glass Elevator

1. Otis modernized the Space Needle with state-of-the-art elevators. 2. New elevators enhance visitor experience with panoramic views of Seattle. 3. Project reflects longstanding relationship between Otis and the Space Needle. 4. Elevators utilize advanced technology for efficiency and smooth rides. 5. This is the first North American project with SkyMotion™ 800 machines.

8m saved
Insight
Article

FAQ

Why Bullish?

The project showcases Otis's technological advancements and strengthens its market position. Historical projects, such as those at iconic landmarks, have led to increased brand visibility and demand.

How important is it?

The modernization project elevates Otis's brand and product recognition, influencing investor perception and market sentiment positively. This aligns with Otis's strategy to innovate in high-traffic environments.

Why Long Term?

The ongoing modernization will likely entice future contracts and partnerships, given Otis's successful execution history. Long-term growth parallels the increasing need for modern infrastructure.

Related Companies

AECOMKONESCHINDLERTHYSSENETR
Elevator is first of three on site to be modernized with new Otis elevators, /PRNewswire/ -- A new, double-deck glass elevator from Otis opened for its first rides to passengers Friday as part of a new experience at the iconic Space Needle. Visitors to the tower can now soar above Seattle in a floor-to-ceiling glass, double-deck elevator, completely transforming the trip to the top. It's the first of three elevators on site that Otis (NYSE: OTIS), the world's leading elevator and escalator manufacturing, installation and service company, will modernize. A new, double-deck glass elevator from Otis opened for its first rides to passengers Friday as part of a new experience at the iconic Space Needle. When complete, the Space Needle will feature three modernized Otis SkyRise™ sightseeing elevators with floor-to-ceiling glass windows that immerse visitors in the world around them as they rise 520 feet into the sky in less than 50 seconds. Photo credit Space Needle. The new, custom-built elevators will allow more people to fulfill the Space Needle's mission of bringing visitors to new heights for breathtaking views of Seattle, the Puget Sound and nearby Mount Rainier. This continues the longstanding relationship between the Space Needle and Otis. Otis installed the original elevators in 1962, modernized them in 1992, and has maintained them throughout. "The new elevator is more than a way up, it's a symbol of where we're headed," said Ron Sevart, Space Needle President & CEO. "This reinvestment reflects our commitment—to our Guests, our Team Members, and our community—to ensure the Space Needle remains a symbol of Seattle's innovative spirit for generations to come." "Otis is proud to be the company that iconic global projects like the Space Needle choose to safely transport visitors to breathtaking views and share once-in-a-lifetime experiences," said Joseph Armas, Otis President for the U.S. and Canada. "From day one, Otis has built, installed and continuously serviced the equipment at the Space Needle. Each year, we safely move more than 1 million people here."Advanced TechnologyWhen complete, the Space Needle will feature three modernized Otis SkyRise™ sightseeing elevators with the company's most advanced controllers and drives. Two double deck elevators will be able to move up to 46 passengers each in the custom-built cabs. The third elevator will remain a single deck. All will feature floor-to-ceiling glass windows that immerse visitors in the world around them as they rise 520 feet into the sky in less than 50 seconds.This is the first project in North America, and only the second in the world, to receive Otis' most powerful high rise SkyMotion™ 800 machines, designed to provide a smooth, efficient ride in the world's tallest buildings.The custom elevator cabs, designed by an aerospace manufacturer and built and assembled by Otis on site, reflect the vision of the Space Needle to capture humanity's space-age aspirations with the innovative and forward-thinking spirit of Seattle.This elevator modernization project is part of the Space Needle's Century Project renovation, which started in 2017, and included Otis installing a material lift and a custom-built accessibility lift on the upper floors of the tower.To learn more about Otis products and services, visit www.otis.com.About OtisOtis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.About the Space NeedleBuilt as the centerpiece and inspiration for the 1962 Seattle World's Fair, the Space Needle has since become a part of the Seattle experience and the globally recognized icon for the city. The Space Needle's recent $100 million renovation added more than 176 tons of glass to the structure offering unparalleled views of Seattle and introduced The Loupe—the world's first and only revolving glass floor. Open year round, the Space Needle hosts more than a million visitors per year. For more information visit: spaceneedle.com/pressMedia Contact:Katy Padgett+1-860-674-3047[email protected]SOURCE Otis Worldwide Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News