Nightfood Holdings Inc. (NGTF) Subsidiary Bringing
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Posted On: 10/15/2024 4:36:26 PM
Nightfood Holdings Inc. (NGTF) Subsidiary Bringing Robotics and Automation Solutions to Sector Slammed by Labor Shortage
- Chronic labor shortages in the hospitality sector force operators to adopt automated solutions
- Nightfood subsidiary offers key robotics and automation solutions designed to revolutionize both front-end and back-end operations within the hospitality industry
Recent research released by the U.S. Chamber of Commerce indicated that the leisure/hospitality industry has been hit hardest by the country’s perpetual labor shortage. This shouldn’t surprise anyone who has eaten or traveled in recent years. The short staffing is hard to miss, as it’s crippling the guest experience and guest satisfaction ratings.
Nightfood Holdings (OTCQB: NGTF) through its recently acquired subsidiary, Future Hospitality Ventures Holdings Inc., is solving this industry-wide problem with plug-and-play robotics and solutions which enhance service efficiency and consistency (https://nnw.fm/rfseg ).
According to the U.S. Chamber of Commerce, the quit rate, which represents the number of employees who leave companies of their own accord during a given month as a percentage of employment, was highest in the leisure/hospitality space (https://nnw.fm/FqmUn ). “The December 2023 quit rate for the industry was 4.3% — higher than all other industries, including wholesale/retail (2.5%), professional/business (2.5%), financial activities (1.5%), and durable goods manufacturing (1.3%),” a Cleaning and Maintenance Management report read.
“The U.S. Chamber also reports that the industry has consistently maintained the highest quit rate over several years, with the accommodation and food services industry subsector experiencing a quit rate above 4.5% since July 2021,” the article continued. The report went on to note that “jobs that are fully in-person and traditionally have lower wages have had a more difficult time retaining workers, even prior to the pandemic.”
Leading robotics industry publication AZ Robotics confirms that the labor crisis is driving mass industry adoption (https://nnw.fm/vbJkR ). “While industrial robots have traditionally led the market, service robots are quickly gaining ground across various sectors,” the company noted. “These robots perform essential tasks like cleaning, security, medical care, and customer service.
“By 2030, the market for professional service robots is expected to reach $170 billion, overtaking the demand for traditional industrial robots,” the report stated. “This growth will be driven by factors such as demographic shifts, labor shortages and an increasing focus on efficiency and automation. . . . Industries like agriculture, hospitality and retail will adopt robots for tasks such as harvesting, food preparation and shelf stocking. Powered by AI and machine learning, these robots will become vital tools for companies seeking to reduce operational costs and improve service quality.”
Nightfood’s Future Hospitality is pioneering the emerging Robots-as-a-Service (“RaaS”) business model, solving both front-end and back-end challenges for labor-strapped operators. The company’s advanced serving robot works alongside front-end wait staff to ensure faster and more reliable service, streamlining service delivery, minimizing wait times, reducing human errors and enhancing guest experiences. On the back end, smart cooking bots support chefs and food prep staff, ensuring consistent food quality and enabling more efficient food prep and inventory management.
“We are excited about the positive feedback from potential partners who recognize the value our robotics solutions bring to their operations,” said Sonny Wang, CEO of Nightfood Holdings Inc. “Our technologies not only improve operational efficiencies but also enhance the overall customer experience, which is crucial in today’s competitive market.”
Future Hospitality has been showcasing the capabilities of its service robots and automated systems to an array of potential corporate clients, including restaurant franchises, assisted living facilities, hotels and hospital operators.
Nightfood Holdings is a holding company focused on identifying and capitalizing on explosive market trends within the hospitality, food services and consumer goods industries. By leading newly emerging categories and seizing opportunities in markets undergoing transformational upheaval, the company’s mission is to create unparalleled upside potential in industries ripe for innovation and growth.
For more information, visit the company’s website at https://nightfoodHoldings.com/
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://nnw.fm/NGTF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- Chronic labor shortages in the hospitality sector force operators to adopt automated solutions
- Nightfood subsidiary offers key robotics and automation solutions designed to revolutionize both front-end and back-end operations within the hospitality industry
Recent research released by the U.S. Chamber of Commerce indicated that the leisure/hospitality industry has been hit hardest by the country’s perpetual labor shortage. This shouldn’t surprise anyone who has eaten or traveled in recent years. The short staffing is hard to miss, as it’s crippling the guest experience and guest satisfaction ratings.
Nightfood Holdings (OTCQB: NGTF) through its recently acquired subsidiary, Future Hospitality Ventures Holdings Inc., is solving this industry-wide problem with plug-and-play robotics and solutions which enhance service efficiency and consistency (https://nnw.fm/rfseg ).
According to the U.S. Chamber of Commerce, the quit rate, which represents the number of employees who leave companies of their own accord during a given month as a percentage of employment, was highest in the leisure/hospitality space (https://nnw.fm/FqmUn ). “The December 2023 quit rate for the industry was 4.3% — higher than all other industries, including wholesale/retail (2.5%), professional/business (2.5%), financial activities (1.5%), and durable goods manufacturing (1.3%),” a Cleaning and Maintenance Management report read.
“The U.S. Chamber also reports that the industry has consistently maintained the highest quit rate over several years, with the accommodation and food services industry subsector experiencing a quit rate above 4.5% since July 2021,” the article continued. The report went on to note that “jobs that are fully in-person and traditionally have lower wages have had a more difficult time retaining workers, even prior to the pandemic.”
Leading robotics industry publication AZ Robotics confirms that the labor crisis is driving mass industry adoption (https://nnw.fm/vbJkR ). “While industrial robots have traditionally led the market, service robots are quickly gaining ground across various sectors,” the company noted. “These robots perform essential tasks like cleaning, security, medical care, and customer service.
“By 2030, the market for professional service robots is expected to reach $170 billion, overtaking the demand for traditional industrial robots,” the report stated. “This growth will be driven by factors such as demographic shifts, labor shortages and an increasing focus on efficiency and automation. . . . Industries like agriculture, hospitality and retail will adopt robots for tasks such as harvesting, food preparation and shelf stocking. Powered by AI and machine learning, these robots will become vital tools for companies seeking to reduce operational costs and improve service quality.”
Nightfood’s Future Hospitality is pioneering the emerging Robots-as-a-Service (“RaaS”) business model, solving both front-end and back-end challenges for labor-strapped operators. The company’s advanced serving robot works alongside front-end wait staff to ensure faster and more reliable service, streamlining service delivery, minimizing wait times, reducing human errors and enhancing guest experiences. On the back end, smart cooking bots support chefs and food prep staff, ensuring consistent food quality and enabling more efficient food prep and inventory management.
“We are excited about the positive feedback from potential partners who recognize the value our robotics solutions bring to their operations,” said Sonny Wang, CEO of Nightfood Holdings Inc. “Our technologies not only improve operational efficiencies but also enhance the overall customer experience, which is crucial in today’s competitive market.”
Future Hospitality has been showcasing the capabilities of its service robots and automated systems to an array of potential corporate clients, including restaurant franchises, assisted living facilities, hotels and hospital operators.
Nightfood Holdings is a holding company focused on identifying and capitalizing on explosive market trends within the hospitality, food services and consumer goods industries. By leading newly emerging categories and seizing opportunities in markets undergoing transformational upheaval, the company’s mission is to create unparalleled upside potential in industries ripe for innovation and growth.
For more information, visit the company’s website at https://nightfoodHoldings.com/
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://nnw.fm/NGTF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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