Latest news with #RiedFloco
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
01-04-2025
- Business
- Yahoo
Nightfood Acquires Skytech to Expand Leadership in AI-Driven Hotel Automation
Strategic acquisition enhances Robotics-as-a-Service capabilities and accelerates market penetration across the hotel sector TARRYTOWN, NY, April 01, 2025 (GLOBE NEWSWIRE) -- via IBN -- Nightfood Holdings, Inc. (OTCQB: NGTF) (the 'Company'), a leading innovator in hospitality automation through robotics and strategic property acquisition, today announces the successful acquisition of Skytech Automated Solutions, Inc., a recognized expert in artificial intelligence (AI)-driven service technologies for the hotel industry. This transaction follows Nightfood's recent purchase of Carryout Supplies (S W C Group) and further reinforces the Company's aggressive expansion strategy to solidify its position at the forefront of hospitality innovation. Skytech is best known for its Laundry Helper robot, which has been successfully deployed across a growing number of hotel properties. With a proven track record in delivering scalable, AI-powered service automation, Skytech's technology and expertise align seamlessly with Nightfood's integrated business model that combines hotel ownership with Robotics-as-a-Service (RaaS) solutions. 'Closing the Skytech acquisition represents a transformative leap forward for Nightfood,' said Jamie Steigerwald, Chairman of Nightfood Holdings. 'This strengthens our ability to scale automation across the hospitality industry—addressing key operational pain points such as labor shortages and rising costs. Together with the Carryout Supplies acquisition, we're building a powerful ecosystem designed to lead the future of hotel automation.' With Skytech's smart service technologies now part of the Nightfood platform, the Company can deliver end-to-end automation, from behind-the-scenes robotics like laundry and cleaning to guest-facing solutions that enhance customer experience and operational efficiency. These combined capabilities are expected to: Accelerate market penetration Drive operational efficiencies across hospitality clients Expand recurring revenue from third-party RaaS clients Watch for an interview on the Next Big Story YouTube channel (coming soon), where Skytech's Executive Chair, Ried Floco, will join host Kyle Livingston. In the interview, Floco will discuss Nightfood's acquisition of Skytech, as well as the combined synergies of both companies to deliver AI-driven RaaS solutions to the future of hospitality. Nightfood remains committed to disciplined, strategic expansion, continually evaluating opportunities to strengthen its competitive edge and deliver long-term value to shareholders. About Skytech Automated Solutions, Inc. Skytech Automated Solutions is a California-based provider of AI-driven robotics and automation technologies for the hospitality industry. Best known for its Laundry Helper robot, Skytech delivers scalable solutions that streamline hotel operations, reduce labor costs, and improve service quality. The company offers a full suite of service robots—ranging from delivery to cleaning—supported by advanced IoT and fleet management systems. Skytech's mission is to empower hospitality operators with intelligent automation that enhances operational efficiency and elevates the guest experience. To learn more, visit 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. 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 hospitality automation. 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, ir@ Media Relations Contact:Email: media@ Phone: (866) 261-7778 Corporate Communications:IBNAustin, OfficeEditor@ in to access your portfolio
