Nightfood Holdings Inc. New Subsidiary, Future Hospitality Ventures, Solves Hospitality Labor Crisis

Rhea-AI Summary

Nightfood Holdings' new subsidiary, Future Hospitality Ventures, introduces innovative robotics and automation solutions to tackle the hospitality labor crisis. With a minimum wage rise to $20 in California, many businesses face shutdowns or seek automation to survive. Future Hospitality offers two key solutions through its Robots-as-a-Service (RaaS) model: front-end serving robots and back-end smart cooking bots. These technologies enhance service efficiency, consistency, and overall customer experience. Recent demonstrations to restaurant franchises, assisted living facilities, hotels, and hospitals have generated strong interest. The company is in active discussions to implement these solutions at scale.

Positive

• Future Hospitality Ventures offers innovative automation solutions through the RaaS model, enhancing operational efficiency and service consistency.
• Strong interest generated from recent demonstrations to various industry leaders, indicating market acceptance.
• Active discussions with organizations to implement automation solutions at scale.

Negative

• The labor crisis and $20 minimum wage increase in California are forcing long-standing businesses to shut down, creating a challenging market environment.

TARRYTOWN, N.Y., June 27, 2024 (GLOBE NEWSWIRE) -- via IBN -- Nightfood Holdings Inc. (OTCQB: NGTF) new subsidiary, Future Hospitality Ventures Holdings, Inc. ("Future Hospitality"), is revolutionizing the hospitality industry with plug-and-play robotics and automation solutions designed to enhance service efficiency and consistency.

Daily national media coverage highlights the ongoing labor crisis in California, which is creating massive upheaval across the industry. With minimum wage increased to $20, many long-standing businesses have been forced to shut down. Others are actively looking to invest in automation solutions that will allow them to remain viable now and into the future.

Future Hospitality offers two key robotics solutions via the Robots-as-a-Service (“RaaS”) business model, which can transform both front-end and back-end operations within the hospitality industry.

1. Front-End Solutions: The serving robot, an advanced front-end solution, works alongside wait staff to ensure faster and more reliable service. These sever robots help streamline service delivery, enhancing guest experiences by minimizing wait times and reducing human errors.
2. Back-End Solutions: Smart cooking bots provide game-changing back-end solutions to support chefs in high-volume environments. The advanced kitchen assistant ensures consistent food quality and enables even inexperienced staff to prepare delicious meals quickly, addressing critical challenges in busy kitchens.

In recent months, Future Hospitality has been actively showcasing the capabilities of its service robots and automated systems to various regional restaurant franchises, assisted living facilities, hotels, and hospital operators. These demonstrations have sparked significant interest among industry leaders seeking to solve service inconsistency, labor shortages, and ongoing staffing replacement costs.

"We are excited about the positive feedback from potential partners who recognize the value our robotics solutions bring to their operations," said Lei Sonny Wang, CEO of Nightfood Holdings Inc. "Our technologies not only improve operational efficiencies but also enhance the overall customer experience, which is crucial in today's competitive market."

Future Hospitality is in active discussions with several organizations interested in implementing these automation solutions at scale in their day-to-day operations.

For more information about Nightfood Holdings, Inc. and to stay updated on our latest developments, please visit our website at https://ir.nightfood.com/ or contact our media relations team at media@nightfood.com.

About Nightfood Holdings Inc.

Nightfood Holdings Inc. (OTCQB: NGTF) is a forward-thinking holding company dedicated to identifying and capitalizing on explosive market trends within the hospitality, food services, consumer packaged goods and commercial real estate sectors. Our mission is to create unparalleled upside potential in industries ripe for innovation and growth by leading newly emerging categories and seizing opportunities in markets undergoing transformational upheaval.

We are at the forefront of introducing and deploying AI-enabled robotics products, revolutionizing operational efficiencies and customer experiences across our focus areas. Additionally, we are committed to developing and marketing wellness-focused consumer packaged goods, meeting the growing demand for healthier and functional options. Through these strategic initiatives, Nightfood endeavors to drive significant value and growth for our shareholders.

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, 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.

Media Contact:

Contact:

Nightfood Holdings Inc.

Media Relations

Email: media@nightfood.com

Phone: (886) 261-7778

FAQ

What is Nightfood Holdings' new subsidiary?

Nightfood Holdings' new subsidiary is Future Hospitality Ventures, which offers robotics and automation solutions for the hospitality industry.

How is Future Hospitality Ventures addressing the hospitality labor crisis?

Future Hospitality Ventures addresses the labor crisis with plug-and-play robotics and automation solutions designed to enhance service efficiency and consistency.

What solutions does Future Hospitality Ventures offer?

Future Hospitality Ventures offers front-end serving robots and back-end smart cooking bots through its Robots-as-a-Service (RaaS) model.

What impact has the minimum wage increase had on the hospitality industry?

The minimum wage increase to $20 in California has forced many long-standing businesses to shut down, pushing others to seek automation solutions.

How has the market responded to Future Hospitality Ventures' solutions?

Recent demonstrations of Future Hospitality Ventures' solutions have sparked significant interest among restaurant franchises, assisted living facilities, hotels, and hospital operators.

Is Future Hospitality Ventures in discussions to implement its solutions at scale?

Yes, Future Hospitality Ventures is in active discussions with several organizations to implement its automation solutions at scale.