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Even worse, They know what room you're in.
I sold geolocation advertising and they know where your cell phone is within 15'.
Ever notice an ad from a competitor of a business you just visited? Car lots love this one. They geotag all the other car lots in town and if you go to one of them, the next time you check Kelly Blue book on this used Camry, an ad for a deal on a Honda Civic pops up.
Creepy as hell
I worked at a retail store that had some sort of Google beacon that would give our store the top search result if someone used Google in the store. At least I think that's how it worked.
I can totally see that being marketed as something like "for streamlining the customer experience"