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,
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also refer to the risk factors disclosure outlined in our most
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