Nightfood to acquire two California hotels for $80m
This move is a significant step in the company's strategy to combine hotel asset ownership with advanced robotics-as-a-service (RaaS).
The acquisitions, valued at approximately $80m, are expected to close by the end of the current quarter.
Located in Victorville and Rancho Mirage, the properties will serve as key sites for the company to demonstrate and refine its AI-driven service robotics, further cementing its position in the AI and hospitality robotics markets.
Nightfood's strategic acquisitions are timely, as US hotel labour costs have increased by about 22% since 2019, according to CBRE Hotels Research.
The company is currently finalising due diligence on the Victorville property and will proceed with the Rancho Mirage asset shortly thereafter.
Both properties will integrate into Nightfood's AI automation platform, facilitating robotic deployments, data analytics, and revenue enhancement strategies.
The company's RaaS platform allows hospitality operators to implement AI solutions on a subscription basis, thereby reducing capital expenses while enhancing guest experiences, staff productivity, and overall profitability.
Nightfood CEO Jimmy Chan said: "These properties are more than high-value assets, they are strategic launchpads.
"By embedding next-gen automation directly into hotel operations, we're executing on a model that delivers efficiency, solves labour challenges, and creates scalable recurring revenue streams. This is how we build a dominant platform in tech-powered hospitality."
The company said that by owning the hotels and deploying AI-driven solutions, it can monetise the resulting efficiencies and data, expanding its recurring revenue streams.
"Nightfood to acquire two California hotels for $80m" was originally created and published by Hotel Management Network, a GlobalData owned brand.
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