Nightfood Holdings Inc. has signed a Letter of Intent to acquire a 120-room Hilton Garden Inn in Rancho Mirage, California, in a deal valued at $36.93 million that includes plans for a five-room expansion. This acquisition represents one of the company's largest deals to date and serves as a strategic move to establish a flagship location for its emerging Robotics-as-a-Service platform. The hotel's location adjacent to Disney's Cotino residential resort community positions it as a prime asset for Nightfood's business strategy focused on reducing labor costs and enhancing operational efficiency through artificial intelligence-enabled robotics.
The financial structure of the transaction includes $26.43 million in Series C Preferred Stock and a potential $3 million earn-out contingent upon successful financial audits and mortgage conditions. This deal aligns with the company's broader goal of uplisting to a national exchange, which could provide greater visibility and investment opportunities. Nightfood Holdings has positioned itself as a forward-thinking holding company focused on identifying emerging market trends across multiple sectors including hospitality, food services, consumer packaged goods, and commercial real estate.
By integrating artificial intelligence-enabled robotics and developing wellness-focused consumer products, the company seeks to drive operational innovation and create significant value for stakeholders. The acquisition demonstrates Nightfood's commitment to expanding its portfolio and exploring transformative opportunities in industries undergoing significant technological and operational changes. The strategic investment in a property near a major Disney development suggests the company's approach to selecting high-potential assets that align with its long-term growth objectives in the evolving hospitality landscape.
