Future Hospitality Ventures and Bear Robotics Partner to Revolutionize US Hospitality with AI-Powered Automation
Rhea-AI Summary
Future Hospitality Ventures Holdings (NGTF) has announced an exclusive partnership with Bear Robotics to implement AI-powered automation solutions in the U.S. hospitality industry. The collaboration, starting in Greater Los Angeles with plans for nationwide expansion, will introduce Bear Robotics' 'Servi' robot to optimize operations in hotels, restaurants, and event spaces. The initiative aims to address labor shortages and rising operational costs while enhancing guest experiences. The global hospitality robotics market is projected to exceed $3 billion by 2027, with a CAGR of 15.8%.
Positive
- Strategic partnership with Bear Robotics positions FHV in the growing hospitality robotics market
- Potential market opportunity in a sector projected to reach $3 billion by 2027
- Technology implementation aimed at reducing operational costs and labor challenges
Negative
- None.
News Market Reaction
On the day this news was published, NGTF gained 5.22%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, Nov. 19, 2024 (GLOBE NEWSWIRE) -- via IBN – Future Hospitality Ventures Holdings Inc. ("FHV"), a subsidiary of Nightfood Holdings, Inc. (OTCQB: NGTF), is proud to announce an exclusive partnership with Bear Robotics Inc., a global leader in AI-driven automation solutions. This collaboration marks a major milestone in FHV's mission 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. Our partnership with Bear Robotics will redefine operational efficiency and service delivery, setting new standards for the industry,” said Sonny Wang, President of Future Hospitality Ventures Holdings Inc. “We look forward to implementing these AI-powered solutions in a dynamic and evolving market.”
Redefining Hospitality with AI-Powered Robotics
As the hospitality industry grapples with labor shortages, rising operational costs, and an increasing demand for seamless guest experiences, FHV, in partnership with Bear Robotics, is taking proactive steps to address these needs. The introduction of AI-powered service robots, including Bear Robotics' flagship "Servi" robot, will optimize operations in hotels, restaurants, and event spaces, allowing staff to focus on enhancing the guest experience.
“Partnering with Future Hospitality Ventures provides us with an excellent opportunity to scale our technology in a region that fosters innovation,” said Vincent Li, Director, Channel Partnerships at Bear Robotics. “We are excited to introduce our AI-powered robotic solutions to the Los Angeles market, where we expect to see significant improvements in operational efficiency and customer engagement. As we move forward, FHV invites investors to join us in leading the transformation of the hospitality industry. Further updates will be provided as we continue to expand our initiatives.”
Positioning for Growth in a Fast-Expanding Market
This partnership strategically positions FHV to capture a substantial share of the growing hospitality robotics market. With Los Angeles as the launchpad and plans to expand nationwide, FHV aims to drive the AI-powered transformation of the U.S. hospitality sector, offering unique value to stakeholders and investors.
Industry reports project the global hospitality robotics market to exceed
Market Impact: AI-Driven Transformation
Bear Robotics' AI-powered solutions are designed to reduce labor strain and ensure consistent, high-quality service across hospitality venues. This partnership allows FHV to deploy these transformative technologies at scale, driving new revenue streams and enhancing profitability across its portfolio.
About Nightfood Holdings, Inc.
Nightfood Holdings, Inc. (OTCQB: NGTF) is a forward-thinking holding company focused on identifying and capitalizing on high-growth opportunities in the hospitality, food services, consumer packaged goods, and commercial real estate sectors. Known initially for its innovative sleep-friendly snack brand, Nightfood, the company has expanded its portfolio through strategic acquisitions, including Future Hospitality Ventures Holdings Inc. (FHV) and Carryoutsupplies.com, to leverage the convergence of technology, automation, and food service operations.
At the forefront of deploying AI-enabled robotics and wellness-oriented consumer products, Nightfood Holdings is committed to revolutionizing operational efficiencies and enhancing customer experiences. By aligning with transformational market trends, the company aims to deliver significant value and long-term growth for its shareholders.
About Future Hospitality Ventures Holdings, Inc.
Future Hospitality Ventures Holdings Inc. (FHVH) is a leader in AI-enabled robotic solutions dedicated to addressing labor challenges and enhancing service quality in the hospitality industry. A subsidiary of Nightfood Holdings Inc., FHVH leverages cutting-edge automation and AI-technology to streamline operations and elevate guest experiences.
About Bear Robotics
Founded in 2017, Bear Robotics manufactures self-driving indoor robots to assist employees on daily tasks that can ease their workload. The Company’s flagship Servi robots have been deployed in hospitality, healthcare, retail, logistics and multi-story real estate venues in North America, Europe, and Asia. For additional information, please visit: www.BearRobotics.ai.
Investor Alerts
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We’re also excited to showcase our new investor deck, which highlights our innovative strategies in AI-driven automation, strategic acquisitions, and growth in high-potential markets. Explore the deck and gain insights into our vision, milestones, and market opportunities.
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Forward-Looking Statement Disclaimer
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could," "will," "potential," "should," "goal" and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Nightfood’s current expectations and speak only as of the date of this release. Actual results may differ materially from Nightfood’s current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including, but not limited to, pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, and risks associated with managing the growth of the business. Except as required by law, Nightfood does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise. More detailed information about Nightfood and the risk factors that may affect the realization of forward-looking statements is set forth in Nightfood’s filings with the Securities and Exchange Commission (“SEC”). Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov.
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FAQ
What is the partnership between Future Hospitality Ventures (NGTF) and Bear Robotics?
What is the projected market size for hospitality robotics by 2027?
Where will Future Hospitality Ventures (NGTF) first deploy Bear Robotics' solutions?
