Nightfood,
Inc. (OTCQB:
NGTF) now in Sonesta International Hotels Multiple
Brands
Nightfood, Inc.
(OTCQB: NGTF) just announced that it has teamed up with
Sonesta International Hotels Corporation to offer Nightfood's sleep
friendly snacks across multiple brands.
Miami, FL
-- March 13, 2023 -- InvestorsHub NewsWire --
via EmergingGrowth.com,
a leading independent small cap media portal with an extensive
history of providing unparalleled content for the Emerging Growth
markets and companies, reports on Nightfood, Inc. (OTCQB: NGTF).
Nightfood Holdings, Inc.
(OTCQB: NGTF), the company pioneering the sleep-friendly
nighttime snacking category, announced today that Sonesta
International Hotels Corporation (Sonesta) is the first hotel
company to introduce sleep-friendly Nightfood ice cream pints
across multiple brands. See the full press release here.
Sonesta is launching Nightfood into
approximately 160 managed Sonesta Select, Sonesta ES Suites, and
Sonesta Simply Suites properties nationwide during Sleep
Awareness Week beginning
on March 12, 2023.
Prior to this announcement, Nightfood
Holdings, Inc. had a market
cap of just over $10 million.
Nightfood (OTCQB: NGTF) has tested and closed above its December
2020 low pivot points or support, twice over the past 6 months. If
it holds support, the stock has room to .18 - .21 and if it breaks
through, the next resistance levels are .30 and .52. One could
argue that, based on a technical analysis, if it breaks its first
level of resistance, it has room to begin to test its highs.
In early 2020, Sonesta
had 80 hotels worldwide, and today, Sonesta is the eighth
largest hotel company in the United States, with approximately
1,200 properties totaling 100,000 guest rooms across 17 brands in
eight countries.
Elizabeth Harlow, Chief Marketing
& Brand Officer, Sonesta.
"We're delighted to provide our guests the
option to choose a Nightfood sleep-friendly snack that contains
less sugar than traditional ice cream while formulated to support
better sleep across Sonesta Select, Sonesta ES Suites and Sonesta
Simply Suites managed properties nationwide."
The first phase
of the roll-out across the three Sonesta managed brands features
Nightfood ice cream pints in Cookies n' Dreams and Midnight
Chocolate flavors available for purchase in hotel lobby
markets.
More on Nightfood Holdings, Inc. (OTCQB:
NGTF):
Impulsify
ImpulsePoint point-of-sale hotel data shows that Nightfood is
challenging Haagen Dazs when head-to-head in hotel lobby
shops.
In
November, across the complete subset of 29 hotels that only carried
those 2 brands and for which Impulsify data was available,
Nightfood accounted for 42% of all pint volume and outsold Haagen
Dazs in 38% of the hotels, despite carrying a higher average retail
price. Link to
release here.
Further,
Nightfood outsold Ben & Jerry's and Baskin Robbins in a
separate controlled hotel lobby shop test. In that test,
third-party point of sale data collected across more than 30 major
hotels for nine weeks of sales showed Nightfood pints captured 43%
of all pint volume.
Ben
& Jerry's had 34%, and Baskin Robbins had
23%.
All
pints were priced at the same $8.50 per pint during this testing
period.
See the full release
here.
Since
launching into national hotel distribution in May of 2022,
Nightfood has secured placements in select locations of major hotel
chains including Courtyard by Marriott (NASDAQ: MAR), Hyatt Hotels
Corp.'s (NYSE:H) Hyatt House, InterContinental Hotels Group's
(NYSE: IHG) Holiday Inn Express, Candlewood Suites, Springhill
Suites, Fairfield Inn, Crowne Plaza, Sonesta, and many
more.
According to
Morningstar's
"Undervalued Defensive Stocks to Buy Now", Consumer
defensive companies are engaged in the manufacturing of food and
beverages, household and personal products, packaging, and
tobacco. In
the same article Kellogg (NYSE: K), a manufacturer of market snacks
and convenience food made Morningstar's list of the 9 most
undervalued stocks.
There
is a lot of investment chatter regarding food stocks:
Motley
Fool's Josh Kohn-Lindquist "Hormel
Foods (NYSE: HRL) should be a prime rebound candidate after
temporary issues held it back in 2022."
The
Hershey Company (NYSE: HSY)
$240 million stock buyback
The
Coca-Cola company (NYSE: KO)
showed strong earnings in its Q4 2022 report.
Barons
mentions in "Four
Food Stocks for Growth"
J&J Snack Foods Corp. (NASDAQ: JJSF), Lam Weston Holdings
(NYSE: LW), and Cal Maine Foods (NASDAQ: CALM).
Should
Nightfood (OTCQB: NGTF) have made the list of Timothy Green of
Motley Fool's "Best
Food Stocks to Buy in 2023"
which includes: General Mills (NYSE: GIS), Tyson Foods (NYSE: TSN)
Mondelez International (NASDAQ: MDLZ), PepsiCo (NASDAQ: PEP),
(Beyond Meat (NASDAQ: BYND), and (Sprouts Farmers Market (NYSE:
SFM)?
Nightfood
recently announced both a global airline and national hotel chain
will soon be
testing Nightfood cookies as
amenities to be given to travelers as nighttime snacks.
The
Company estimates that cookies offered as a check-in amenity in a
national hotel chain could deliver the revenue equivalent of retail
distribution in thousands of hotel lobby markets.
Nightfood
Holdings, Inc. (OTCQB: NGTF) is clearly one to look at taking into
account a technical analysis of its chart, and recently released
news.
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About
Nightfood
Nightfood is pioneering the category of
sleep-friendly nighttime snacking.
Over 80% of Americans snack regularly at
night, resulting in an estimated 700 million nighttime snack
occasions weekly, and an annual spend on night snacks of over $50
billion.
The most popular choices are ice
cream, cookies, chips, and candy. Recent research confirms such snacks, in
addition to being generally unhealthy, can impair sleep, partly due
to excess fat and sugar consumed before bed.
Nightfood's sleep-friendly snacks are
formulated by sleep and nutrition experts to contain less of those
sleep-disruptive ingredients, along with a focus on ingredients and
nutrients that research suggests can support nighttime relaxation
and better sleep quality.
The brand is currently focused on
establishing widespread national distribution of Nightfood ice
cream, cookies, and other snack formats in the hotel
vertical.
Hotels are increasingly focused on supporting
guest wellness. The Company believes one important way for
hotels to do that is by offering sleep-friendly snacks in their
grab-and-go lobby shops.
With an estimated 56,000 hotels across the
United States, expanding distribution into a significant number of
those hotels is expected to lead to profitability, consumer
adoption of the nighttime snack category, and a strategically
defensible position from which category leadership can be
maintained.
Questions can be directed
to investors@Nightfood.com
By signing up at ir.nightfood.com,
investors can receive updates of filings and news releases in their
inbox.
Forward Looking
Statements:
This current press release contains
"forward-looking statements." Statements in this press release
which are not purely historical (including, but not limited to
statements that contain words such as "will," "believes," "plans,"
"anticipates," "expects" and "estimates") are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future, including but not
limited to, sales projections, potential customers, any products
sold or cash flow from operations.
Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, (a) the inherent
uncertainties associated with distribution of our products, (b) the
market acceptance of our products at all levels of distribution and
sale, including retail purchasers, wholesalers and hotel chains,
(c) the success and commitment of our distribution partners to
access distribution channels and successfully engage with sellers
of our products, including, supermarkets and hotel chains, and our
success in obtaining purchase orders from hotel chains,
supermarkets and others, (d) competition from existing and new
companies and products and (e) difficulties associated with
obtaining financing on acceptable terms . These forward-looking
statements are made as of the date of this news release, and we
assume no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe
that the beliefs, plans, expectations and intentions contained in
this press release are reasonable, there can be no assurance that
such beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our most recent annual report for our last fiscal year,
our quarterly reports, and other periodic reports filed from
time-to-time with the Securities and Exchange
Commission.
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