Nightfood Holdings Inc. has announced a significant strategic acquisition of a 120-room Hilton Garden Inn located in Rancho Mirage, California, for $36.93 million. The property, situated adjacent to Disney's upcoming Cotino residential resort community, represents a major investment for the company's expansion into hospitality and technology integration.
The acquisition includes plans for a five-room expansion and is structured with a $3 million earn-out and $26.43 million in Series C Preferred Stock. The deal is contingent upon successful financial audits, mortgage conditions, and the company's uplisting to a national exchange.
Central to this acquisition is Nightfood's AI-powered Robotics-as-a-Service (RaaS) platform, which aims to revolutionize hospitality operations by reducing labor costs and enhancing operational efficiency. The Hilton Garden Inn will serve as a flagship site for demonstrating the potential of this innovative technological approach.
The strategic location near Disney's Cotino project provides additional potential value, positioning the hotel to capitalize on anticipated tourism and residential development in the area. This move reflects Nightfood's broader strategy of identifying and leveraging emerging market trends in hospitality, real estate, and technology.
