Latest news with #Nightfood
Yahoo
12-05-2025
- Business
- Yahoo
Nightfood Signs LOI to Acquire Hilton Garden Inn in Rancho Mirage, California, Adjacent to Disney's Cotino Development
Strategic acquisition strengthens NGTF's real estate footprint and positions the Company for institutional-grade hospitality automation deployment TARRYTOWN, N.Y., May 12, 2025 (GLOBE NEWSWIRE) -- via IBN – Nightfood Holdings, Inc. (OTCQB: NGTF) ('Nightfood' and the 'Company'), a hospitality automation company pioneering artificial intelligence (AI)-powered robotics and strategic hotel ownership, today announces the execution of a Letter of Intent (LOI) to acquire the Hilton Garden Inn located in Rancho Mirage, California. This 120-room property, with plans for a five room expansion to 125 rooms, is strategically located adjacent to Cotino™, a Storyliving by Disney community—a first-of-its-kind, 618-acre residential resort development. The total transaction is valued at $36.93 million, making it one of the largest acquisitions in the Company's history to date. The Hilton Garden Inn will continue to operate under the Hilton flag and serve as a flagship property for Nightfood's expanding Robotics-as-a-Service (RaaS) platform—designed to reduce labor costs, address staffing challenges, and enhance operational efficiency across the hospitality industry. This acquisition is expected to be the second of many as Nightfood actively pursues similar high-value assets, including some at even higher price points. The Company's strategic focus remains on acquiring real estate that complements its automation platform, driving long-term growth and shareholder value. 'This acquisition reflects our commitment to building a high-impact, asset-backed platform that merges real estate and automation,' said Jimmy Chan, CEO of Nightfood Holdings. 'The proximity to Disney's Cotino project offers significant long-term upside, and this Hilton property gives us a high-visibility location to showcase our robotic automation technologies in a live, revenue-generating environment.' Strategic Location and Long-Term Value The Hilton Garden Inn is positioned to benefit from Cotino's transformative impact, which is expected to attract significant year-round foot traffic, affluent residents, and both domestic and international visitors. Nightfood anticipates long-term gains in both occupancy rates and average daily rates (ADR), driven by the Cotino effect and the operational cost savings delivered by its automation suite. Key Transaction Terms Purchase Price: $36.93 million (including planned expansion to 125 rooms). Equity Consideration: Net $26.43 million in Series C Convertible Preferred Stock (tax-free share exchange, Section 368). Earn-Out: Additional of $3 million Series C shares upon completion of five new guest rooms. Exclusivity: 180-day No-Shop period. Closing Conditions: Delivery of two years of audited financials. Nightfood's uplisting to NASDAQ or NYSE American. Satisfaction of outstanding mortgage (not to exceed $10.5 million). Flagship Location for Automation Showcase Nightfood plans to leverage the Hilton Garden Inn as its second live testing ground for its AI-powered Robotics-as-a-Service (RaaS) platform, following the successful deployment at its first test property, a Holiday Inn. By operating under a different flagship brand, Nightfood can refine and expand its automation solutions across diverse hospitality environments. This aligns with the Company's broader strategy of combining advanced automation with prime real estate assets, further establishing its leadership in technology-driven hospitality solutions. Looking Ahead As part of its disciplined growth strategy, Nightfood will continue pursuing strategic acquisitions and expanding its automation capabilities. Investors can expect further updates as the Company advances through closing steps and uplisting preparations. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is revolutionizing the hospitality industry by combining AI-powered robotics with strategic hotel acquisitions. The Company's innovative approach uses advanced automation technology to significantly improve hotel efficiency, reduce operating costs, and address labor challenges. As automation rapidly becomes the standard rather than a trend in hospitality, Nightfood is committed to setting that standard — delivering intelligent solutions that enhance guest experiences and streamline operations. With its dual focus on owning hotel properties and offering Robotics-as-a-Service (RaaS), NGTF is strategically positioned to capitalize on the rapidly growing global service robotics market, which is expected to surpass $170 billion by 2030. This integrated business model provides scalable revenue streams and positions NGTF as a leader in technology-driven hospitality solutions. Forward-Looking Statements This press release contains forward-looking statements regarding future events and Nightfood Holdings' expected performance. These statements are subject to risks and uncertainties, and actual results may differ materially from expectations. Investors are encouraged to review the Company's SEC filings for additional information. For more information on Nightfood Holdings, Inc. (OTCQB: NGTF), please visit Investor & Media Contacts Investor Relations Contact: Nightfood Holdings, Inc. Email: ir@ Media Relations Contact: Email: media@ Phone: (866) 261-7778 Corporate Communications IBN Austin, Texas 512.354.7000 Office Editor@
Yahoo
01-05-2025
- Business
- Yahoo
Nightfood Holdings Appoints Proven Operators to Accelerate Public Company Growth and Hospitality Innovation
New executive leadership combines decades of expertise in capital markets, supply chain logistics, real estate, and hotel automation to drive Nightfood's next phase of expansion TARRYTOWN, N.Y., May 01, 2025 (GLOBE NEWSWIRE) -- via IBN – Nightfood Holdings, Inc. (OTCQB: NGTF), an emerging leader in AI-driven hospitality automation and real estate-backed hotel operations, today announced the appointment of Jimmy Chan as Chief Executive Officer and Ried Floco as President and Director. These leadership transitions mark a pivotal moment in Nightfood's evolution, aligning the company with two seasoned executives whose combined experience in scaling businesses, leveraging automation, and operating in public market environments will drive long-term shareholder value and disciplined growth. Jimmy Chan brings more than 20 years of entrepreneurial and capital markets expertise across industries including real estate, international trade, healthcare, and hospitality supply. As the founder of he scaled one of the largest custom-printed foodservice packaging providers in North America, serving thousands of hotels and restaurants. Mr. Chan is a recognized leader in operational optimization, vertical integration, and supply chain innovation. His experience in taking companies public, executing M&A transactions, and restructuring businesses for long-term value creation will support Nightfood's corporate development, capital markets strategy, and execution as a high-growth public enterprise. Ried Floco, with over three decades of executive leadership across the hospitality sector, has overseen the performance of more than 200 hotel properties and $3 billion in asset valuations. He has led operations across top-tier brands such as Marriott, Hilton, Intercontinental, and Starwood Hotels. Mr. Floco will drive Nightfood's Robotics-as-a-Service (RaaS) platform deployment across hospitality verticals while simultaneously leading the company's hotel asset acquisition strategy. His deep operational insight will ensure that the integration of AI-powered automation with real estate ownership delivers scalable and efficient performance in Nightfood's expanding portfolio. Sonny Wang, who previously served as CEO, has transitioned to the role of Chief Revenue Officer, where he will focus on revenue maximization across the Company's core verticals—AI robotics, hotel operations, and hospitality supply chain. 'Jimmy and Ried are exactly the kind of leaders we need to build a robust, high-performing public company,' said Jamie Steigerwald, Chairman of Nightfood Holdings. 'Jimmy brings unmatched supply chain expertise and a strategic capital markets perspective, while Ried adds decades of real estate and hotel performance management combined with cutting-edge robotics implementation. Together, they're positioning Nightfood to become a market leader in technology-enabled hospitality.' These appointments come on the heels of Nightfood's acquisitions of Skytech Automated Solutions and forming a vertically integrated foundation to deliver next-generation service solutions across hotels and foodservice industries. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is transforming the hospitality industry by combining AI-powered service robotics with a strategic real estate-focused hotel acquisition model. Through its dual focus on Robotics-as-a-Service (RaaS) and hotel ownership, Nightfood leverages automation to reduce labor costs, improve guest experiences, and drive operational efficiency. Positioned to lead the growing $170+ billion global service robotics market, Nightfood's integrated strategy offers scalable revenue and high-margin performance. Forward-Looking Statements This press release contains forward-looking statements regarding future events and Nightfood Holdings' expected performance. These statements are subject to risks and uncertainties. Actual results may differ materially. Investors are encouraged to review the Company's SEC filings for additional information. Contacts Investor RelationsEmail: ir@ Media RelationsEmail: media@ (866) 261-7778 Wire Service Contact:IBN – InvestorBrandNetworkAustin, in to access your portfolio
Yahoo
10-04-2025
- Business
- Yahoo
AI-Powered Service Robots Redefine Hospitality as Industry Innovators Lead the Charge
NetworkNewsWire Editorial Coverage NEW YORK, April 10, 2025 /CNW/ -- Facing ongoing labor shortages and rising consumer demands, the hospitality and food service sectors are increasingly turning to artificial intelligence (AI)-driven service robots. These cutting-edge technologies are helping hotels, restaurants, and cafes streamline operations, lower costs, and elevate customer experiences. As the hospitality robotics market is expected to surge to $65.4 billion by 2032 ( robotic innovations are swiftly becoming central to addressing workforce gaps and modernizing service delivery. Nightfood Holdings Inc. (OTCQB: NGTF) (profile) is at the forefront of this evolution—not merely as a tech player, but as a hospitality veteran. With operational oversight of more than 130 hotels and the development of over 50 properties, Nightfood's leadership brings deep-rooted industry expertise, enabling the company to implement robotic solutions with greater agility and impact than many traditional technology firms. Other companies committed to transforming their sectors through robotics include Inc. (NASDAQ: AMZN), Intuitive Surgical Inc. (NASDAQ: ISRG), Richtech Robotics Inc. (NASDAQ: RR) and Serve Robotics Inc. (NASDAQ: SERV). AI-driven service robots are gaining momentum as a game-changing tool in a range of different industries. With a strong acquisition strategy in place, Nightfood Holdings is focused on securing assets that support scalable growth and broaden its reach in the hospitality sector. Nightfood is also leveraging high-impact partnerships to reinforce its leadership in the hospitality robotics sector. Redefining Hospitality with Robotic Innovation As the hospitality and food-service sectors face mounting challenges in 2025—most notably labor shortages and rising guest expectations—industry leaders are turning to technology for sustainable solutions. A report by the American Hotel & Lodging Association reveals that 76% of hotels are still struggling to fill staff roles, with many increasing wages and offering flexible work arrangements to stay competitive ( To address these operational pressures, AI-driven service robots are gaining momentum as a game-changing tool. From hotels to cafés, these intelligent machines are streamlining workflows, cutting costs, and elevating the customer experience. With the hospitality robotics market projected to grow at a CAGR of 17.89% through 2032, automation is quickly becoming a cornerstone of modern hospitality. Accelerating Growth with Key Acquisitions Nightfood Holdings Inc. (OTCQB: NGTF), a hospitality technology and asset acquisition company, is making strategic moves to redefine hotel operations through artificial intelligence and targeted acquisitions. With a strong acquisition strategy in place, the company is focused on securing assets that support scalable growth and broaden its reach in the hospitality sector. Recently, Nightfood finalized the acquisition of Skytech Automated Solutions Inc., a company known for its AI-powered service technologies tailored for hotels ( Among its innovations is the Laundry Helper robot, which is already being implemented in a growing number of hotel properties. With Skytech's capabilities now integrated into Nightfood's platform, the company plans to deliver full-scale automation—from behind-the-scenes operations to direct guest interactions. "Closing the Skytech acquisition represents a transformative leap forward for Nightfood," said Nightfood Holdings chair Jamie Steigerwald. "This strengthens our ability to scale automation across the hospitality industry, addressing key operational pain points such as labor shortages and rising costs." This move comes on the heels of Nightfood's acquisition of SWC Group Inc., operating as through an all-stock transaction ( CarryOut is a major supplier of custom takeout packaging to the foodservice industry. According to company leadership, the addition of CarryOut brings several advantages, including greater operational efficiency, an expanded client base, and an enhanced product portfolio. "We are thrilled to announce the successful acquisition of and excited for what we believe this acquisition will allow Nightfood to accomplish," said Nightfood Holdings CEO Sonny Wang. "This deal not only strengthens our position in the foodservice industry but also can drive immense value through operational efficiencies and the integration of complementary products and services across Nightfood's subsidiaries." In a recent shareholder update, the company emphasized that these acquisitions are central to its long-term strategic plan. "These acquisitions highlight Nightfood's strategic vision, positioning the company as a prominent innovator at the intersection of advanced AI and hospitality automation, significantly expanding its market presence and competitive positioning. Nightfood continues actively evaluating further strategic opportunities to enhance its innovative market leadership, demonstrating a clear commitment to aggressive, value-driven expansion," the update stated ( With its dual focus on cutting-edge automation and market-driven acquisitions, Nightfood is carving out a distinctive role in the evolving landscape of hospitality and service innovation. Strengthening Leadership through Key Partnerships Acquisitions are only part of the Nightfood Holdings strategy. The company is also eyeing key partnerships that will help it strengthen its position as a leader in the hospitality robotic space. Late last year, Future Hospitality Ventures Holdings Inc., a subsidiary of Nightfood Holdings, announced an exclusive partnership with Bear Robotics Inc., a global leader in AI-driven automation solutions ( Calling the collaboration "a major milestone," the company noted that its mission is to redefine the U.S. hospitality industry, beginning in Greater Los Angeles and with plans to expand nationwide. "FHV is committed to advancing innovation within the hospitality sector," stated Wang. "Our partnership with Bear Robotics will redefine operational efficiency and service delivery, setting new standards for the industry. We look forward to implementing these AI-powered solutions in a dynamic and evolving market." Expands Hospitality Innovation Through Strategic Partnership While acquisitions remain a vital component of Nightfood Holdings Inc.'s (OTCQB: NGTF) growth strategy, the company is also leveraging high-impact partnerships to reinforce its leadership in the hospitality robotics sector. One of its most significant recent collaborations is an exclusive agreement between its subsidiary, Future Hospitality Ventures Holdings Inc. (FHV), and Bear Robotics Inc., a global leader in AI-driven automation solutions ( Announced late last year, the partnership marks a strategic move to revolutionize hotel and restaurant operations with intelligent service automation, starting in Greater Los Angeles and with plans for a national rollout. Nightfood described the agreement as "a major milestone" in its mission to redefine the U.S. hospitality industry. "FHV is committed to advancing innovation within the hospitality sector," said Nightfood CEO Sonny Wang. "Our partnership with Bear Robotics will redefine operational efficiency and service delivery, setting new standards for the industry. We look forward to implementing these AI-powered solutions in a dynamic and evolving market." As Nightfood continues to integrate advanced technologies and expand its footprint, this partnership underscores the company's forward-thinking approach to reshaping guest services through automation and artificial intelligence. Solidifying a Presence in a Transformative Field With the rapid expansion and innovation in the robotics industry, several visionary companies are making significant moves to solidify their presence in this transformative field. Through investments in advanced technologies and strategic alliances, these companies are positioning themselves as leaders in automation, impacting industries from hospitality to supply chain. Inc. (NASDAQ: AMZN) robotics division, Amazon Robotics, was founded more than a decade ago when Amazon acquired Massachusetts-based Kiva Systems in 2012. Since then, Amazon has developed, produced, and deployed more than 750,000 robots across its operations network ( The scaling of these systems has reached a new crescendo with the recent launch of Amazon's next-generation, state-of-the-art fulfillment center in Shreveport, Louisiana, equipped with the latest innovations in robotics to support employees who package and deliver customer orders. This site uses eight different robotics systems that work in harmony to support package fulfillment and delivery. Intuitive Surgical Inc. (NASDAQ: ISRG), a global leader in minimally invasive care and the pioneer of robotic-assisted surgery, announced the publication of two peer-reviewed studies in Surgical Endoscopy, on its first-of-its-kind Force Feedback technology incorporated in the da Vinci 5 surgical system ( Force Feedback technology allows surgeons to feel the forces applied to tissue during surgery, such as pushing and pulling. These studies - conducted in the pre-clinical setting using tissue models - demonstrate its potential to reduce the amount of force placed on tissue during surgery and enhance surgeon performance. Richtech Robotics Inc. (NASDAQ: RR), a Nevada-based provider of AI-driven service robots, recently announced the opening of its newest One Kitchen restaurant in collaboration with Ghost Kitchens America ( The Peachtree City, Georgia, Walmart Supercenter One Kitchen is the third to open as part of the two companies' partnership and first to feature AI-driven service robot Scorpion. Richtech Robotics' Scorpion robot will serve patrons a variety of coffees, milk teas, and fruit tea drinks. Serve Robotics Inc. (NASDAQ: SERV), a leading autonomous sidewalk delivery company, has announced the launch of its service in the Dallas-Fort Worth metro area ( This strategic expansion, in continued partnership with Uber Eats, represents a major milestone in Serve's plan to deploy 2,000 AI-powered delivery robots across the U.S. by the end of 2025. Serve robots have begun operating in the Uptown neighborhoods of Pearl, State Thomas, West Village and South Routh, reaching more than 22,000 new households. Customers placing orders through the Uber Eats app in these areas may now receive their meal via Serve's autonomous delivery robots. As robotics transforms the future of work and service, the companies at the forefront are those that merge technological advancements with specialized industry knowledge. The strategic actions they take now are laying the groundwork for a more efficient, automated, and intelligent future, solidifying their positions as major influencers in the evolving robotics field. For more information about Nightfood Holdings, visit Nightfood Holdings Inc. About NetworkNewsWire NetworkNewsWire ("NNW") is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. 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Globe and Mail
10-04-2025
- Business
- Globe and Mail
AI-Powered Service Robots Redefine Hospitality as Industry Innovators Lead the Charge
NEW YORK, April 10, 2025 /CNW/ -- Facing ongoing labor shortages and rising consumer demands, the hospitality and food service sectors are increasingly turning to artificial intelligence (AI)-driven service robots. These cutting-edge technologies are helping hotels, restaurants, and cafes streamline operations, lower costs, and elevate customer experiences. As the hospitality robotics market is expected to surge to $65.4 billion by 2032 ( robotic innovations are swiftly becoming central to addressing workforce gaps and modernizing service delivery. Nightfood Holdings Inc. (OTCQB: NGTF) (profile) is at the forefront of this evolution—not merely as a tech player, but as a hospitality veteran. With operational oversight of more than 130 hotels and the development of over 50 properties, Nightfood's leadership brings deep-rooted industry expertise, enabling the company to implement robotic solutions with greater agility and impact than many traditional technology firms. Other companies committed to transforming their sectors through robotics include Inc. (NASDAQ: AMZN), Intuitive Surgical Inc. (NASDAQ: ISRG), Richtech Robotics Inc. (NASDAQ: RR) and Serve Robotics Inc. (NASDAQ: SERV).
Yahoo
08-04-2025
- Business
- Yahoo
Nightfood Holdings (OTCQB: NGTF) Signs $41M LOI to Acquire Victorville Hotel as Model Property for Robotics-Enabled Hospitality
Deal marks major step in NGTF's expansion strategy, combining AI-powered automation with real estate value creation TARRYTOWN, N.Y., April 08, 2025 (GLOBE NEWSWIRE) -- via IBN — Nightfood Holdings, Inc. (OTCQB: NGTF), an emerging leader in AI-powered automation and next-generation hospitality solutions, today announces its entry into a letter of intent (LOI) to acquire the assets of Victorville Treasure Holdings, LLC, owner and operator of a 155-room Holiday Inn(R) located at 15494 Palmdale Road in Victorville, California. The property is currently undergoing a major renovation, including the addition of a new state-of-the-art fitness center, to qualify for Courtyard by Marriott(R) rebranding. This transaction marks another milestone in Nightfood's aggressive acquisition strategy, further expanding its footprint in hospitality real estate and smart-service automation. The Victorville property utilizes Skytech's robotic technologies to reduce operating costs and improve profitability. According to Research and Markets, the global service robotics industry is projected to reach over $170 billion by 2030—highlighting the growing value of automation across sectors Nightfood is targeting. Following the acquisition, Nightfood plans to continue developing the site as a model property and proof-of-concept for its integrated Robotics-as-a-Service (RaaS) platform and hospitality asset management approach—one of many more to come. A Transformative Deal for NGTF Under the terms of the LOI, Nightfood will acquire the Victorville hotel in a transaction valued at $41 million, based on completion of ongoing renovations and franchise conversion. After accounting for an outstanding $10 million mortgage, the net purchase price of $31 million will be paid in Series C Convertible Preferred Stock, issued as part of a 100% share exchange under Section 368(b) of the Internal Revenue Code. The agreement also includes a performance-based earnout of $5 million, payable in additional Series C Preferred Shares, contingent upon the successful completion of two key milestones: The launch of the new gym facility with at least 50 enrolled members. A minimum of 30 days of operation under the Courtyard by Marriott(R) brand. Powering Growth Through Team Strength 'As we advance the acquisitions of Skytech, and now the Victorville hotel, I want to emphasize what we believe is our most important strategic asset: our team,' said Jamie Steigerwald, Chairman of Nightfood Holdings. 'This group brings unmatched depth in food service, hospitality and real estate development.' The leadership and operating team driving Nightfood's expansion has: Developed over 50 properties Managed more than 130 hotels Served over 6,000 quick-service restaurants 'This expertise is critical as we scale both our RaaS platform and our hospitality portfolio,' added Steigerwald. 'NGTF operates at the unique intersection of automation and real estate value creation—but it's not just about tools or assets. What truly sets us apart is our people: the experienced builders, operators, and visionaries who know how to execute at scale and adapt to market shifts in real time.' Strategic Synergy and Long-Term Value The Victorville hotel is projected to realize a 25–40% revenue increase following its upgrades and franchise conversion. Nightfood views the integration of high-performing real estate assets with cutting-edge automation technology as a foundational element of its long-term growth and value strategy. The LOI includes a 30-day due diligence period and a 180-day exclusivity clause, with the closing contingent upon: Delivery of two years of PCAOB-audited financials by the Seller. Uplisting approval for Nightfood Holdings to a national exchange. Continuing Strong Momentum in 2025 This LOI builds upon the momentum from NGTF's recently announced acquisition of Skytech Automated Solutions and further supports the company's $40 million M&A roadmap. Nightfood's strategy is designed to accelerate revenue growth, unlock operating synergies, and drive long-term shareholder value. The Company expects to announce additional transactions in the coming months as it continues executing its multipronged expansion plan throughout 2025. About Nightfood Holdings, Inc. (OTCQB: NGTF) Nightfood Holdings, Inc. is an acquisition and development company focused on next-generation hospitality solutions, specializing in AI-powered automation and robotics integration across hotel and food service environments. Through strategic M&A, Nightfood is building a portfolio that combines Robot-as-a-Service (RaaS) capabilities with high-performing real estate assets, uniquely positioned for operational excellence and long-term growth. Each acquisition expands NGTF's revenue base while creating downstream cross-selling and automation deployment opportunities. Forward-Looking Statements This press release contains forward-looking statements, including those relating to the anticipated completion of the transaction and future performance. These statements are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. Please refer to the Company's SEC filings for further risk disclosures. Investor & Media ContactsInvestor Relations: ir@ Inquiries: media@ Corporate CommunicationsIBNAustin, OfficeEditor@
