Otis Debuts First Panoramic Double-Deck Elevator at Seattle’s Space Needle

Otis Worldwide Corporation has unveiled a groundbreaking addition to the Space Needle: a double-deck, floor-to-ceiling glass elevator, offering panoramic views as guests ascend 520 feet in under 50 seconds. This is the first of three elevators Otis will modernize at the iconic Seattle landmark.

The new elevator is part of the Space Needle’s Century Project, a multi-year renovation aimed at enhancing accessibility and the visitor experience. Upon completion, the site will feature three modernized Otis SkyRise™ elevators, including two double-deck models that can each carry up to 46 passengers.

This project is also the first in North America to use Otis’ SkyMotion™ 800 machines, the company’s most powerful high-rise technology, designed for efficiency and ultra-smooth rides in tall structures.

The elevator cabs—co-designed by an aerospace manufacturer and built by Otis—are custom-built to match the Space Needle’s legacy of innovation. Otis has a long history with the tower, having installed the original elevators in 1962 and performed regular modernization and maintenance since.

The upgrade enhances the Space Needle’s mission to deliver awe-inspiring views of Seattle, the Puget Sound, and Mount Rainier, reinforcing the structure’s identity as a beacon of technological and architectural progress.

Otis reported net sales of $3.3 billion for Q1 2025, with organic sales flat year-over-year. Service net sales increased 1%, with organic growth of 4%. The company’s maintenance portfolio grew 4%, and modernization orders rose 12%, contributing to a 13% increase in backlog (14% at constant currency).

GAAP earnings per share dropped 29% to $0.61, while adjusted EPS rose 5% to $0.92. The GAAP operating profit margin declined by 350 basis points, but the adjusted operating profit margin improved by 40 basis points.

Otis generated $190 million in GAAP operating cash flow and $186 million in adjusted free cash flow. The company also repurchased approximately $250 million in shares during the quarter.

CEO Judy Marks highlighted strong performance in the Service segment, growth in modernization orders, and continued expansion of the maintenance portfolio. She also noted the announcement of a dividend increase for the fifth year in a row.

Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on Wednesday, April 23, 2025, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Cristina Mendez will discuss the company's first quarter results and 2025 outlook.

Otis Worldwide Corporation (NYSE:OTIS) reported full year net sales of $14.3 billion with 1.4% organic growth. GAAP earnings per share (EPS) increased 20.1% to $4.07 and adjusted EPS increased 8.2% to $3.83.


"Otis finished 2024 with solid fourth quarter results including high single digit adjusted EPS growth, our highest cash flow since spin, and modernization orders up 18%," said Chair, CEO & President Judy Marks. "For the full year, we delivered organic sales growth and strong adjusted margin expansion for the fourth consecutive year. Our industry-leading maintenance portfolio grew 4.2% to approximately 2.4 million units, and our modernization backlog grew low teens. The quarter and the year show that our strategic New Equipment, Service and modernization flywheel is working with more growth in the higher margin elements of the business. As in 2023 and 2024, we enter 2025 with continued strong momentum.”