Nightfood Holdings (OTCQB: NGTF) has signed a Letter of Intent to acquire a Hilton Garden Inn in Rancho Mirage, California for $36.93 million. The 120-room property, with plans to expand to 125 rooms, is strategically located next to Disney's Cotino development, a 618-acre residential resort community. The transaction includes $26.43 million in Series C Convertible Preferred Stock and requires Nightfood's uplisting to NASDAQ or NYSE American. The hotel will serve as a flagship location for Nightfood's AI-powered Robotics-as-a-Service (RaaS) platform, aimed at reducing labor costs and enhancing operational efficiency. This acquisition marks the company's second major property following their Holiday Inn test site, as Nightfood combines real estate ownership with hospitality automation technology.
Nightfood Holdings (OTCQB: NGTF) ha firmato una Lettera di Intenti per acquisire un Hilton Garden Inn a Rancho Mirage, California per 36,93 milioni di dollari. La struttura, che dispone di 120 camere con piani di espansione fino a 125, è situata strategicamente accanto al progetto Cotino di Disney, una comunità residenziale turistica di 618 acri. L'operazione prevede 26,43 milioni di dollari in Azioni Preferenziali Convertibili Serie C e richiede la quotazione di Nightfood al NASDAQ o NYSE American. L'hotel sarà la sede principale per la piattaforma Robotics-as-a-Service (RaaS) basata su intelligenza artificiale di Nightfood, progettata per ridurre i costi del lavoro e migliorare l'efficienza operativa. Questa acquisizione rappresenta la seconda proprietà importante per l'azienda, dopo il sito pilota Holiday Inn, mentre Nightfood integra la proprietà immobiliare con la tecnologia di automazione nel settore dell'ospitalità.
Nightfood Holdings (OTCQB: NGTF) ha firmado una Carta de Intención para adquirir un Hilton Garden Inn en Rancho Mirage, California por 36,93 millones de dólares. La propiedad de 120 habitaciones, con planes de ampliación a 125, está estratégicamente ubicada junto al desarrollo Cotino de Disney, una comunidad residencial turística de 618 acres. La transacción incluye 26,43 millones de dólares en acciones preferentes convertibles Serie C y requiere que Nightfood cotice en NASDAQ o NYSE American. El hotel servirá como ubicación principal para la plataforma Robotics-as-a-Service (RaaS) impulsada por IA de Nightfood, destinada a reducir costos laborales y mejorar la eficiencia operativa. Esta adquisición marca la segunda propiedad importante de la compañía tras su sitio piloto Holiday Inn, combinando la propiedad inmobiliaria con tecnología de automatización hotelera.
Nightfood Holdings(OTCQB: NGTF)는 캘리포니아 란초미라지에 위치한 힐튼 가든 인 호텔을 3,693만 달러에 인수하기 위한 의향서를 체결했습니다. 120객실 규모의 이 호텔은 디즈니의 코티노 개발지 인근에 전략적으로 위치해 있으며, 125객실로 확장할 계획입니다. 이번 거래에는 2,643만 달러 상당의 시리즈 C 전환 우선주가 포함되며, Nightfood는 NASDAQ 또는 NYSE American 상장 요건을 충족해야 합니다. 이 호텔은 인공지능 기반 로보틱스-서비스(RaaS) 플랫폼의 대표 지점으로 활용되어 인건비 절감과 운영 효율성 향상을 목표로 합니다. 이번 인수는 Holiday Inn 시험 부지에 이은 두 번째 주요 부동산 확보로, Nightfood가 부동산 소유와 환대 자동화 기술을 결합하는 전략의 일환입니다.
Nightfood Holdings (OTCQB : NGTF) a signé une lettre d'intention pour acquérir un Hilton Garden Inn à Rancho Mirage, Californie pour 36,93 millions de dollars. Cet établissement de 120 chambres, avec un projet d'extension à 125 chambres, est idéalement situé à côté du développement Cotino de Disney, une communauté résidentielle touristique de 618 acres. La transaction comprend 26,43 millions de dollars en actions privilégiées convertibles de série C et nécessite que Nightfood soit coté au NASDAQ ou au NYSE American. L'hôtel servira de site phare pour la plateforme Robotics-as-a-Service (RaaS) alimentée par l'IA de Nightfood, visant à réduire les coûts de main-d'œuvre et à améliorer l'efficacité opérationnelle. Cette acquisition marque la deuxième propriété majeure de l'entreprise après leur site pilote Holiday Inn, alors que Nightfood combine la possession immobilière avec la technologie d'automatisation hôtelière.
Nightfood Holdings (OTCQB: NGTF) hat eine Absichtserklärung zum Erwerb eines Hilton Garden Inn in Rancho Mirage, Kalifornien für 36,93 Millionen US-Dollar unterzeichnet. Die 120-Zimmer-Immobilie, mit Plänen zur Erweiterung auf 125 Zimmer, liegt strategisch neben Disneys Cotino-Entwicklung, einer 618 Hektar großen Wohnresort-Gemeinschaft. Die Transaktion beinhaltet 26,43 Millionen US-Dollar in Serie-C wandelbaren Vorzugsaktien und erfordert eine Notierung von Nightfood an der NASDAQ oder NYSE American. Das Hotel wird als Flaggschiff-Standort für Nightfoods KI-gestützte Robotics-as-a-Service (RaaS) Plattform dienen, die darauf abzielt, Arbeitskosten zu senken und die Betriebseffizienz zu steigern. Diese Akquisition ist das zweite bedeutende Objekt des Unternehmens nach der Holiday Inn-Teststätte, da Nightfood Immobilienbesitz mit Hospitality-Automatisierungstechnologie kombiniert.
Positive
Strategic location next to Disney's Cotino 618-acre development, potentially driving higher occupancy and rates
Tax-free share exchange structure ($26.43M) preserves cash for operations
Property will serve as showcase for company's RaaS platform, expanding automation testing across different hotel brands
Potential for immediate revenue generation while testing automation solutions
Negative
Significant mortgage obligation (up to $10.5M) could impact financial flexibility
Deal contingent on uplisting to NASDAQ/NYSE American, adding uncertainty
Required delivery of two years audited financials could delay closing
Large equity component ($26.43M) may lead to dilution for current shareholders
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 www.nightfoodholdings.com.
What is the value of NGTF's Hilton Garden Inn acquisition in Rancho Mirage?
The total transaction is valued at $36.93 million, including $26.43 million in Series C Convertible Preferred Stock and a mortgage not exceeding $10.5 million.
How many rooms does the Hilton Garden Inn have and what are the expansion plans?
The property currently has 120 rooms with plans to expand to 125 rooms, with a $3 million Series C shares earn-out upon completion of the five new guest rooms.
What are the key conditions for closing NGTF's Hilton Garden Inn acquisition?
Key conditions include delivery of two years of audited financials, Nightfood's uplisting to NASDAQ or NYSE American, and satisfaction of the outstanding mortgage not exceeding $10.5 million.
How will NGTF use the Hilton Garden Inn property in their business strategy?
The property will serve as a flagship location for testing and showcasing Nightfood's AI-powered Robotics-as-a-Service (RaaS) platform, aimed at reducing labor costs and enhancing operational efficiency.
What is the significance of the Disney Cotino development for NGTF's hotel acquisition?
The proximity to Disney's 618-acre Cotino residential resort development is expected to drive significant year-round foot traffic, attract affluent residents and visitors, potentially increasing occupancy rates and average daily rates.
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