- The Robot-as-a-Service market is dynamic, projected to exceed $170 billion in the next six years
- Nightfood Holdings has acquired Future Hospitality Ventures in an all-stock deal that diversifies the CPG company and puts it on the leading edge of the RaaS revolution
- The initial thrust for Future Hospitality restaurants, hotels and multiple senior care facilities, all of which are prime opportunities for Future Hospitality’s technology
The service industry is undergoing a major transformation. While exceptional service will always be a cornerstone of the guest experience, advancements in automation technology are revolutionizing how restaurants and hotels operate and compete. According to a recent filing with the SEC by Nightfood Holdings (OTCQB: NGTF), the up-and-coming global service robots market is projected to exceed $170 billion by 2030.
Nightfood, which made its name by developing and commercializing healthier versions of popular late-night snacks, acquired the Robots-as-a-Service company Future Hospitality Ventures Holdings, Inc. in an all-stock transaction. As the name implies, Future Hospitality is focused on pioneering innovation in the hospitality industry.
Traditionally labor-intensive and repetitive tasks like cooking, food and beverage delivery, and guest check-in are ripe for automation. To that end, robots and automation are efficient, tireless new additions to the hospitality team.
Imagine a cooking robot that prepares meals with meticulous precision, ensuring every dish meets the highest standards. Server robots can whisk meals directly to guests’ doors, eliminating wait times and freeing up staff for personalized interactions. Even the check-in process can be streamlined by AI-powered chatbots or self-service kiosks, allowing guests to settle in with minimal delay.
The benefits extend far beyond efficiency. Robots can work tirelessly, alleviating pressure on existing staff and reducing workplace fatigue. This translates to a happier workforce, which ultimately fosters a more welcoming environment for guests. Additionally, automation can contribute to cost savings, allowing restaurants and hotels to reinvest in guest amenities.
Forward thinking Nightfood Holdings is embracing this automation revolution. By incorporating robots into key aspects of their operations, Nightfood aims to provide guests with a seamless and personalized experience. Their innovative approach underscores the immense potential robotics holds for the hospitality industry.
Under the leadership of Sonny Wang, who was recently named the new CEO of NGTF, Future Hospitality has secured distribution agreements with industry-leading manufacturers United Robotics Group and Botin Innovation and has distribution agreements with at least one other global manufacturer expected to be signed in the coming months.
The initial thrust will be in California, one of the largest economies in the world, boasting over 83,000 restaurants, 19,000 hotels and 1,200 senior care facilities, all of which are prime opportunities for Future Hospitality’s technology. California is undergoing an industry-wide upheaval after incrasing minimum wage to $20 per hour for fast food workers. Many popular restaurants have already closed their doors in California. For those that remain, finding operational efficiency through automation may be the only path to continue operations.
While some may fear automation replacing human interaction, the reality is quite different. Robotics are here to augment, not replace, the human touch in hospitality. By automating mundane tasks, staff can dedicate their time to offering exceptional task management, creating bespoke experiences, and fostering genuine connections with guests. Ultimately, the human element remains irreplaceable, but with robotic support, hospitality professionals can operate at their peak, ensuring guests feel valued and well-cared for.
The future of hospitality requires a harmonious blend of human expertise and technological innovation. Robots have become more sophisticated and seamlessly integrated. The industry is transforming before your eyes. This allows operators to offer guests a new level of convenience and efficiency while preserving the core values of exceptional service and personalized experiences.
It’s either automate or go out of business.
For more information, visit the company’s website at https://ir.nightfood.com/.
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://ibn.fm/NGTF
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