IPTV is defined as the secure and reliable delivery of video content, including live TV and video on demand, over an IP-based network, distinguishing it from traditional broadcasting which is one-way. The document discusses various features, advantages, and applications of IPTV, such as two-way communication, video on demand growth, and integration with hotel services. It also highlights infrastructure requirements and examples of IPTV implementations in hospitality settings, emphasizing its potential for enhanced viewer experiences and business opportunities.