TARRYTOWN, NY – Dec 07, 2021 – Nightfood Holdings, Inc. (OTCQB: NGTF), the better-for-you snack company addressing the $50 billion Americans spend annually on night snacks, announced today that HotelBusiness.com published an article authored by Nightfood CEO Sean Folkson about the opportunity and obligation for hotels to make sleep-friendly snacks available to their guests via their lobby pantry shops.
- Nightfood Ice Cream is Available in over 1,500 Supermarkets, Including Walmart Regions, Divisions of Albertson’s and HEB, and Hundreds of Independent Grocery Stores.
- Net Revenue Growth Over 190% Year-Over-Year
- National Hotel Rollout Expected
- Company is one of Four Finalists in Real California Milk Excelerator Competition, Competing for $250,000 in Prizes
- Category Interest from Pepsi, Unilever, and Nestle
HotelBusiness.com and Hotel Business magazine provide industry-leading content, insight, and analysis on important and trending topics and issues within the hospitality industry. Top industry decision-makers, including hotel brand executives, hotel ownership groups, property management companies, and purchasing executives, turn to Hotel Business to stay informed of hotel industry developments. In the article, titled “The Rise of the Hotel Snack Wars” Folkson outlines the opportunity available to hotels to extend their sleep-supporting efforts out of the guestroom and into the lobby snack shop by providing better, healthier, more sleep-friendly night snacks for guests. Folkson compares the launch of NGTF’s sleep-friendly ice cream into its first major hotel chain with Westin’s introduction of the Heavenly Bed in 1999.
Westin’s Heavenly Bed launch famously triggered “The Hotel Bed Wars” a multi-billion-dollar industry-wide race for hotel brands to deliver optimized sleep experiences for their guests, which played out from 1999 through 2006. During that seven-year upheaval, upgraded hotel beds quickly went from an unexpected surprise to a guest expectation, forcing late adopter brands to upgrade their bedding or be left behind.
“I believe hotel operators can and should expect sleep-friendly snacking to sweep through the industry more rapidly than the seven-year bedding revolution brought on by The Bed Wars,” states Folkson. “Research shows unhealthy night snacking impacts both sleep and productivity. We view the inclusion of sleep-friendly snack options to be an obligation on the part of hotel leaders. As a result, we expect the Nightfood line of snacks to rapidly become hotel industry standard.”
Nightfood ice cream pints are scheduled to launch into national hotel distribution this winter following a successful pilot test completed earlier this year. Additional snack formats are in development, also for potential hotel distribution. This includes the Nightfood ice cream sandwich, which last month won the Real California Milk Excelerator grand prize of $150,000 in marketing support for its hotel launch.
NGTF, through its partnership with iDEAL Hospitality Management, is in active discussions with executives and decision-makers from multiple additional hotel brands and group purchasing organizations. The team is targeting distribution in 7,500 hotel locations by summer of 2022 on the way to full industry-wide distribution in more than 20,000 hotels across the country.
- New Survey Reveals 79% of Americans Experience Increased Nighttime Cravings with the End of Daylight Saving Time
On November 1st NGTF announced a new national survey reveals widespread anxieties about the impact of Daylight Saving Time and fewer daylight hours on our diets and well-being.
A whopping 83% of Americans say that they sometimes or always feel out of control about their nighttime snacking. What’s more, 79% of people report that their nighttime cravings for snacks increase when it gets dark earlier in the evening.
The survey, conducted on behalf of sleep-friendly ice cream maker NGTF, adds to a growing list of evidence that the end of Daylight Saving Time has profound implications for our eating habits.
“Being aware that these cravings occur below the conscious level can help consumers better manage their impact,” said Sean Folkson, NGTF CEO and Founder. “We’ve long known that less sunlight exposure leads to a drop in serotonin levels and can negatively impact mood and sleep. It’s not surprising that fewer daylight hours could wreak havoc on people’s snacking behavior before bed.”
Unlike the unhealthy and sleep disruptive snacks so many people are defaulting to when eating at night, Nightfood ice cream is formulated by sleep and nutrition experts to provide the nutritional foundation for better quality sleep. Nightfood ice cream contains more sleep-supporting tryptophan, vitamin B6, calcium, magnesium, zinc, prebiotic fiber, and casein protein, with less sugar and fat, and a lower glycemic profile. Nightfood does not contain any sleep drugs or medications.
- Fiscal Year 2021 Results – NGTF Well-Positioned to Lead High-Opportunity Consumer Category
On October 14th NGTF announced its financial results for the Fiscal Year ended June 30, 2021.
NGTF reported recent business highlights, including:
- Increased net revenue over 190% from previous year. NGTF net revenue for the fiscal year ended June 30, 2021 was $701,246, exceeding previous estimates, compared to $241,673 for the fiscal year ended June 30, 2020.
- National hotel rollout. NGTF recently announced the completion of a successful retail pilot test of Nightfood ice cream in lobby shop freezers with a leading global hotel chain. The chain reported robust sales during the test period. Rollout logistics and timeline are now being finalized by the hotel chain, and chainwide distribution of Nightfood is expected to begin in the current quarter or in the first quarter of calendar year 2022. NGTF has engaged iDEAL Hospitality Partners Group to accelerate and support the introduction of NGTF sleep-friendly snacks into additional hotel chains.
- Doubled retail points of distribution. In April, NGTF announced the brand had added distribution in over one dozen Walmart regions, more than doubling the brand’s retail footprint to over 1,500 supermarkets. In addition to those Walmart stores, Nightfood is available in Jewel-Osco, Shaw’s and Star Market (both divisions of Albertson’s), Central Market (a division of H-E-B), Rouses Markets, Lowes Foods, Market of Choice, Metropolitan Market and other independent chains and retailers.
- Expanded Board of Directors. NGTF appointed venture capitalist Nisa Amoils, Dr. Thanuja Hamilton, a nationally recognized physician and authority in sleep medicine, and consumer goods visionary Tom Morse, co-founder of 5-Hour Energy to the Board of Directors. In addition, NGTF also retained ice cream industry veteran and CPA Jerry Isaacson significantly strengthening the Company’s expertise in ice cream logistics, manufacturing, and procurement.
- Strengthened balance sheet. NGTF successfully completed a financing/refinancing round totaling $5,000,000. Funds were used to eliminate all company debt, greatly reduce payables, and support 2021 growth initiatives.
- Gross sales increased 27% from $878,849 in the year ended June 30, 2020 to $1,117,847 in the year ended June 30, 2021. This was the first year the NGTF surpassed $1 million in gross sales.
- Net revenue increased 190% from $241,673 in the year ended June 30, 2020 to $701,246 in the year ended June 30, 2021.
- Nightfood Announces Successful Hotel Test, Engages iDEAL Hospitality to Scale High-Margin Hotel Vertical
On September 8th NGTF announced the completion of a retail pilot test in the lobby shops of a leading international hotel chain. The test, first announced in March 2021, has been confirmed a success.
As a result, the testing chain has confirmed the decision to fully launch the NGTF Nightfood brand into their lobby shop freezers chain-wide with an expected start date in the fourth quarter of 2021 or the first quarter of 2022.
To fully capitalize on the high-margin hotel opportunity, NGTF has engaged iDEAL Hospitality Partners Group. Led by hospitality industry veteran Jill Dean Rigsbee, iDEAL focuses on introducing and scaling innovative hospitality-related products within the hotel/hospitality market. Rigsbee is the former long-time Director of Business Development for Avendra, North America’s leading hospitality procurement service provider.
Widespread hotel distribution can transform NGTF from a middle-of-the-road supermarket player to a powerful and prominent supermarket brand. RxBar built their early mainstream success with distribution in gyms. Oatly uses distribution in coffee shops like Starbucks to rapidly and efficiently scale their supermarket sales in new markets. NGTF plans to do the same with hotels.
For more information on Nightfood, Inc. (OTCQB: NGTF) visit: https://www.nightfood.com
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Address:520 White Plains Road Suite 500
City: Tarrytown
State: NY 10591
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Website: www.nightfood.com
