Nightfood Holdings Inc. (OTCMKTS:NGTF), which is a sleep-friendly snack company that makes up a chunk of the $50 billion Americans spend on nighttime snacks in a year, announced that Nightfood ice cream has achieved the “recommended brand” status, with leading hotel management company, Remington Hotels.
Trading Data
On Friday, NGTF stock moved up 1.35% to $0.1875 with more than 369.11K shares, compared to its average volume of 118K shares. The stock moved within a range of $0.1700 – 0.1900 after opening trading at $0.17.
Remington Hotels is recommending Nightfood’s sleep-friendly ice cream to its portfolio hotels for inclusion in their lobby grab-and-go shops. The former is a dynamic and emerging hotel management company which manages 121 hotels across 28 states, representing 25 brands. Properties include the Beverly Hills Marriott, the Hilton Boston Back Bay, the Crowne Plaza Key West, and the Hyatt Regency Long Island.
Initial purchase orders for the national rollout of Nightfood ice cream pints into hotels across the country, are already in process. It is on track to be in national wholesale distribution in early May. The relationship with Remington was facilitated by iDEAL Hospitality Partners Group.
Richard Garcia, Remington Hotel’s Senior Vice President of Food & Beverage, commented that guests love the concept of grab-and-go shops. That is why; they are thrilled to provide them with yummy, sleep-friendly versions of their favorite foods. On the other hand, Nightfood CEO, Sean Folkson, looks forward to establishing similar arrangements in the coming months as they expand distribution.
Key Quote
“We’re delighted to announce our relationship with Remington,” commented Nightfood CEO, Sean Folkson. “We expect to establish many similar arrangements in the coming months as we expand our distribution, but only one can be the first. Remington’s forward-thinking philosophy and powerful focus on guest satisfaction inspired them to lead the way in the hospitality industry adoption of sleep-friendly snacks for hotel guests.”
Technical Data
NGTF stock is trading above the 20-Day and 50-Day Moving averages of $0.18 and $0.17 respectively. However, the stock is trading below the 200-Day moving average of $0.21.
