Nightfood Holdings (OTCQB: NGTF) Signs $41M LOI to Acquire Victorville Hotel as Model Property for Robotics-Enabled Hospitality
Nightfood Holdings (NGTF) has signed a Letter of Intent (LOI) to acquire a 155-room Holiday Inn in Victorville, California for $41 million. The property, currently undergoing renovation to qualify for Courtyard by Marriott rebranding, will serve as a model for NGTF's integrated Robotics-as-a-Service platform.
The deal structure includes a $31 million net purchase price (after $10M mortgage) paid in Series C Convertible Preferred Stock, plus a $5 million performance-based earnout. Key conditions include a 30-day due diligence period, 180-day exclusivity, PCAOB-audited financials, and uplisting approval to a national exchange.
The property is expected to see a 25-40% revenue increase post-upgrades and franchise conversion. This acquisition follows NGTF's recent Skytech Automated Solutions purchase and aligns with their $40 million M&A roadmap, combining AI-powered automation with real estate value creation.
Nightfood Holdings (NGTF) ha firmato una Lettera di Intenti (LOI) per acquisire un Holiday Inn con 155 camere a Victorville, California, per 41 milioni di dollari. La proprietà, attualmente in fase di ristrutturazione per qualificarsi per il rebranding come Courtyard by Marriott, servirà da modello per la piattaforma integrata Robotics-as-a-Service di NGTF.
La struttura dell'accordo prevede un prezzo d'acquisto netto di 31 milioni di dollari (dopo un mutuo di 10 milioni di dollari) pagato in azioni privilegiate convertibili di Serie C, più un guadagno basato sulle performance di 5 milioni di dollari. Le condizioni chiave includono un periodo di due diligence di 30 giorni, un'esclusiva di 180 giorni, bilanci auditati dal PCAOB e approvazione per la quotazione su un mercato nazionale.
Si prevede che la proprietà vedrà un aumento del fatturato del 25-40% dopo gli aggiornamenti e la conversione del franchising. Questa acquisizione segue l'acquisto recente di Skytech Automated Solutions da parte di NGTF e si allinea con il loro piano di M&A da 40 milioni di dollari, combinando automazione alimentata dall'IA con la creazione di valore immobiliare.
Nightfood Holdings (NGTF) ha firmado una Carta de Intención (LOI) para adquirir un Holiday Inn de 155 habitaciones en Victorville, California, por 41 millones de dólares. La propiedad, que actualmente se encuentra en renovación para calificar para el rebranding como Courtyard by Marriott, servirá como modelo para la plataforma integrada Robotics-as-a-Service de NGTF.
La estructura del acuerdo incluye un precio de compra neto de 31 millones de dólares (después de una hipoteca de 10 millones de dólares) pagado en acciones preferentes convertibles de Serie C, más un pago adicional basado en el rendimiento de 5 millones de dólares. Las condiciones clave incluyen un período de debida diligencia de 30 días, una exclusividad de 180 días, estados financieros auditados por PCAOB y aprobación para la cotización en un intercambio nacional.
Se espera que la propiedad experimente un aumento del 25-40% en los ingresos después de las mejoras y la conversión de franquicias. Esta adquisición sigue a la reciente compra de Skytech Automated Solutions por parte de NGTF y se alinea con su hoja de ruta de M&A de 40 millones de dólares, combinando la automatización impulsada por IA con la creación de valor inmobiliario.
Nightfood Holdings (NGTF)는 캘리포니아 빅토빌에 있는 155개 객실의 홀리데이 인을 4천1백만 달러에 인수하기 위한 의향서(LOI)를 체결했습니다. 현재 Courtyard by Marriott의 리브랜딩을 위해 리노베이션 중인 이 자산은 NGTF의 통합 로보틱스 서비스 플랫폼의 모델 역할을 할 것입니다.
거래 구조에는 3천1백만 달러의 순 구매 가격(1천만 달러의 모기지 차감 후)이 포함되며, 시리즈 C 전환 우선주로 지급되고, 5백만 달러의 성과 기반 추가 지급이 포함됩니다. 주요 조건으로는 30일의 실사 기간, 180일의 독점 기간, PCAOB 감사 재무제표, 그리고 국가 거래소에 상장 승인 등이 있습니다.
이 자산은 업그레이드 및 프랜차이즈 전환 후 25-40%의 수익 증가가 예상됩니다. 이 인수는 NGTF의 최근 Skytech Automated Solutions 인수에 이어지며, 4천만 달러의 M&A 로드맵과 일치하여 AI 기반 자동화와 부동산 가치 창출을 결합합니다.
Nightfood Holdings (NGTF) a signé une Lettre d'Intention (LOI) pour acquérir un Holiday Inn de 155 chambres à Victorville, Californie, pour 41 millions de dollars. La propriété, actuellement en cours de rénovation pour se qualifier pour le rebranding en tant que Courtyard by Marriott, servira de modèle pour la plateforme intégrée Robotics-as-a-Service de NGTF.
La structure de l'accord comprend un prix d'achat net de 31 millions de dollars (après un emprunt de 10 millions de dollars) payé en actions privilégiées convertibles de Série C, ainsi qu'un bonus de performance de 5 millions de dollars. Les conditions clés incluent une période de diligence raisonnable de 30 jours, une exclusivité de 180 jours, des états financiers audités par le PCAOB et une approbation de cotation sur un marché national.
La propriété devrait connaître une augmentation des revenus de 25 à 40% après les améliorations et la conversion de franchise. Cette acquisition fait suite à l'achat récent de Skytech Automated Solutions par NGTF et s'inscrit dans leur feuille de route M&A de 40 millions de dollars, combinant l'automatisation alimentée par l'IA avec la création de valeur immobilière.
Nightfood Holdings (NGTF) hat eine Absichtserklärung (LOI) unterzeichnet, um ein 155-Zimmer-Hotel Holiday Inn in Victorville, Kalifornien, für 41 Millionen Dollar zu erwerben. Die Immobilie, die derzeit renoviert wird, um für das Rebranding als Courtyard by Marriott qualifiziert zu werden, wird als Modell für NGTFs integrierte Robotics-as-a-Service-Plattform dienen.
Die Struktur des Deals umfasst einen netto Kaufpreis von 31 Millionen Dollar (nach einer Hypothek von 10 Millionen Dollar), der in Serie C wandelbare Vorzugsaktien gezahlt wird, sowie eine leistungsabhängige Earnout von 5 Millionen Dollar. Wichtige Bedingungen sind eine 30-tägige Due-Diligence-Phase, 180 Tage Exklusivität, PCAOB-audierte Finanzunterlagen und die Genehmigung zur Listung an einer nationalen Börse.
Es wird erwartet, dass die Immobilie nach den Upgrades und der Franchisewandlung einen Umsatzanstieg von 25-40% verzeichnet. Diese Akquisition folgt dem kürzlichen Kauf von Skytech Automated Solutions durch NGTF und steht im Einklang mit ihrem 40-Millionen-Dollar-M&A-Roadmap, das KI-gestützte Automatisierung mit der Schaffung von Immobilienwerten kombiniert.
- Significant property acquisition valued at $41M with potential 25-40% revenue increase
- Strategic expansion into robotics-enabled hospitality with Skytech technology integration
- Performance-based structure limits upfront cash requirements through stock-based payment
- Experienced management team with track record of managing 130+ hotels
- Part of larger $40M M&A growth strategy
- Substantial share dilution through Series C Preferred Stock issuance
- Contingent on uplisting approval to national exchange
- Significant debt assumption ($10M mortgage)
- Execution risk in property renovation and brand conversion
- Complex earnout conditions must be met for full value realization
Deal marks major step in NGTF’s expansion strategy, combining AI-powered automation with real estate value creation
TARRYTOWN, N.Y., April 08, 2025 (GLOBE NEWSWIRE) -- via IBN — Nightfood Holdings, Inc. (OTCQB: NGTF), an emerging leader in AI-powered automation and next-generation hospitality solutions, today announces its entry into a letter of intent (LOI) to acquire the assets of Victorville Treasure Holdings, LLC, owner and operator of a 155-room Holiday Inn(R) located at 15494 Palmdale Road in Victorville, California. The property is currently undergoing a major renovation, including the addition of a new state-of-the-art fitness center, to qualify for Courtyard by Marriott(R) rebranding.
This transaction marks another milestone in Nightfood’s aggressive acquisition strategy, further expanding its footprint in hospitality real estate and smart-service automation. The Victorville property utilizes Skytech's robotic technologies to reduce operating costs and improve profitability. According to Research and Markets, the global service robotics industry is projected to reach over
A Transformative Deal for NGTF
Under the terms of the LOI, Nightfood will acquire the Victorville hotel in a transaction valued at
The agreement also includes a performance-based earnout of
- The launch of the new gym facility with at least 50 enrolled members.
- A minimum of 30 days of operation under the Courtyard by Marriott(R) brand.
Powering Growth Through Team Strength
“As we advance the acquisitions of Skytech, CarryoutSupplies.com and now the Victorville hotel, I want to emphasize what we believe is our most important strategic asset: our team,” said Jamie Steigerwald, Chairman of Nightfood Holdings. “This group brings unmatched depth in food service, hospitality and real estate development.”
The leadership and operating team driving Nightfood’s expansion has:
- Developed over 50 properties
- Managed more than 130 hotels
- Served over 6,000 quick-service restaurants
“This expertise is critical as we scale both our RaaS platform and our hospitality portfolio,” added Steigerwald. “NGTF operates at the unique intersection of automation and real estate value creation—but it’s not just about tools or assets. What truly sets us apart is our people: the experienced builders, operators, and visionaries who know how to execute at scale and adapt to market shifts in real time.”
Strategic Synergy and Long-Term Value
The Victorville hotel is projected to realize a 25–
The LOI includes a 30-day due diligence period and a 180-day exclusivity clause, with the closing contingent upon:
- Delivery of two years of PCAOB-audited financials by the Seller.
- Uplisting approval for Nightfood Holdings to a national exchange.
Continuing Strong Momentum in 2025
This LOI builds upon the momentum from NGTF’s recently announced acquisition of Skytech Automated Solutions and further supports the company’s
The Company expects to announce additional transactions in the coming months as it continues executing its multipronged expansion plan throughout 2025.
About Nightfood Holdings, Inc. (OTCQB: NGTF)
Nightfood Holdings, Inc. is an acquisition and development company focused on next-generation hospitality solutions, specializing in AI-powered automation and robotics integration across hotel and food service environments. Through strategic M&A, Nightfood is building a portfolio that combines Robot-as-a-Service (RaaS) capabilities with high-performing real estate assets, uniquely positioned for operational excellence and long-term growth. Each acquisition expands NGTF’s revenue base while creating downstream cross-selling and automation deployment opportunities.
Forward-Looking Statements
This press release contains forward-looking statements, including those relating to the anticipated completion of the transaction and future performance. These statements are subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. Please refer to the Company’s SEC filings for further risk disclosures.
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