Hospitality technology company Nightfood Holdings has completed the acquisition of Victorville Treasure Holdings, which owns a 155-room Holiday Inn in Victorville, California, US.
The transaction was finalised through a share exchange agreement (SEA).
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The deal marks Nightfood’s initial hotel acquisition and is complemented by another property nearing acquisition completion, subject to SEC audit processes.
The acquisition cost stands at $31m, encompassing $5m in “performance-based earnout consideration”.
These strategic purchases are instrumental in establishing Nightfood’s AI-powered hospitality platform, stated the company.
The Victorville location is set to serve as Nightfood’s inaugural site for its Robotics-as-a-Service (RaaS) initiative.
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By GlobalDataThis initiative focuses on implementing, testing, and setting operational benchmarks for automation technologies across various hospitality brands.
The property has already seen the integration of Skytech’s Laundry Helper robot to improve labour productivity in ‘back-of-house’ operations.
Subsequent development stages will see an increase in robotic integration within housekeeping, food service, and front-of-house roles.
This expansion aims to develop and demonstrate a replicable “Smart Hotel” business model that leverages automation for enhanced efficiency, said the company.
Nightfood Holdings CEO Jimmy Chan said: “We’re building more than a portfolio-we’re creating the framework for how hotels can operate with AI. Victorville is our first automation blueprint. It’s where we test, learn, and set the bar for the next generation of smart hotel operations.”
