Welcome to our dedicated page for Luxurban Hotels news (Ticker: LUXH), a resource for investors and traders seeking the latest updates and insights on Luxurban Hotels stock.
Luxurban Hotels Inc. (LUXH) operates a unique hospitality model through Master Lease Agreements, managing urban hotel properties in high-demand markets like New York City. This page provides investors and industry observers with centralized access to official company announcements and news developments.
Discover up-to-date information on earnings reports, strategic partnerships, property acquisitions, and operational milestones. Our curated collection ensures transparent access to press releases detailing LUXH's asset management strategies, cost optimization initiatives, and market expansion efforts.
Key updates include quarterly financial results, MLA negotiations, technology integrations, and portfolio refinements. Bookmark this page to monitor how Luxurban leverages its expertise in revenue management and urban hospitality to drive long-term asset performance.
LuxUrban Hotels announced the launch of a proposed follow-on public offering of its common stock. The company, trading under the symbol LUXH on Nasdaq, will issue shares under a shelf registration statement declared effective by the SEC on May 8, 2024. This offering is being managed by Roth Capital Partners, with Alexander Capital as co-manager. Proceeds will be used for working capital and general corporate purposes. Participation may include certain officers, directors, and holders of 5% or more of the company's common stock. The offering's completion and terms are subject to market conditions.
LuxUrban Hotels Inc. (Nasdaq: LUXH) reported its Q1 2024 financial results, revealing a 27.6% increase in net rental revenue to $29.1 million. However, the company posted a net loss of $16.8 million due to a $12.1 million rise in other expenses, higher operating costs, and the termination of a franchise partnership with Wyndham Hotels. Adjusted EBITDA was $2.5 million, down from $4.0 million in Q1 2023. Gross profit fell from $5.4 million to a loss of $4.6 million. The company is focused on improving working capital, cash flow, and balance sheet strength. LuxUrban will file its Form 10-Q with the SEC on May 13, 2024.
LuxUrban Hotels Inc. (Nasdaq: LUXH) will release its first quarter financial results on May 13, 2024, followed by a conference call on May 14, 2024. LuxUrban secures long-term operating rights for entire hotels through Master Lease Agreements and rents out hotel rooms to business and vacation travelers. The company aims to build a hotel property portfolio in destination cities by leveraging dislocation in commercial real estate markets.
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