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 (OTC: LUXH) has announced the payment schedule for its January 2025 monthly dividend for Series A Cumulative Redeemable Preferred Stock holders. The company, which operates hotels through Master Lease Agreements (MLA) and provides short-term room rentals to business and vacation travelers, will distribute a dividend of $0.2708333 per share of its 13.00% Series A Cumulative Redeemable Preferred Stock. The dividend will be paid in cash on February 28, 2025, to shareholders of record as of February 15, 2025.
LuxUrban Hotels (OTC: LUXH) has strategically transitioned from Nasdaq to the OTC market to enhance operational efficiency and reduce costs. The company achieved operational cash flow positivity in December 2024 and aims for full profitability in 2025.
The transition reduces administrative and compliance expenses, allowing resources to be redirected toward operational execution and high-value initiatives. LuxUrban is pivoting its business model from securing long-term operating rights through Master Lease Agreements to acquiring and managing hotel properties outright.
The company plans to capitalize on opportunities created by dislocations in commercial real estate markets and upcoming debt maturities, targeting hotel acquisitions in destination cities. This strategic realignment positions LuxUrban for potential future uplisting to a major exchange while focusing on strengthening its balance sheet and improving operational efficiencies.
LuxUrban Hotels (LUXH) has provided a corporate update and 2025 revenue guidance, projecting revenue between $62-67 million. The company currently operates 9 hotels with 1,064 keys, planning to maintain 855 keys across 8 properties in its long-term portfolio. Key achievements include improved operational efficiency through exiting non-performing properties and implementing cost-saving measures.
Q4 2024 same-store RevPAR is expected to reach $242.65 (+7.3%), supported by an ADR of $272.81 (+10.3%). December 2024 revenue is anticipated to exceed December 2023 by $1.86 million, driven by an ADR of $307.60 (+24.1%). The company projects 2025 RevPAR to reach $216.58, up from $180.60 in 2024.
LuxUrban is focusing exclusively on New York City, citing high RevPAR performance, potential opportunities from migrant hotel contract turnover (14,000 rooms), and increased tourism demand.
Lux Urban Hotels has announced an innovative partnership to enable digital currency payments across all nine properties in its portfolio. This integration of blockchain-based payment solutions aims to offer guests a seamless, decentralized payment experience. The initiative aligns with Lux Urban's commitment to modernizing guest services by providing greater convenience and security.
Chief Development Officer Branson Elster stated that the adoption of digital currencies fits perfectly with their goal of delivering unparalleled service for tech-savvy travelers. In addition to hotel stays, Lux Urban is collaborating with select vendors to create a fully immersive, digital-based transaction environment. This will include dining, wellness treatments, and exclusive experiences, ensuring a comprehensive cashless journey from check-in to check-out.
Partnering with leading blockchain and fintech innovators, Lux Urban guarantees the highest levels of security, speed, and efficiency for every transaction. This initiative highlights Lux Urban's commitment to staying ahead of industry trends and exceeding guest expectations as digital currencies gain mainstream acceptance.
LuxUrban Hotels (Nasdaq: LUXH) has signed a non-binding Letter of Intent with Lockwood Development Partners and The Bright Hospitality Management to form a joint venture focused on hotel operations. The JV would initially involve two LuxUrban properties in New York City, with Lockwood committing a $7 million initial investment, potentially expanding to $35 million if additional properties are included. The partnership aims to leverage Lockwood's hotel development expertise and Bright's hospitality technology to enhance operational efficiency and guest experience. Key features include property enhancements, AI-driven management tools, and the introduction of Lockwood's Vitality brand. The deal requires landlord approvals and definitive agreements to proceed.
LuxUrban Hotels (LUXH) reported Q3 2024 financial results showing significant declines, with net rental revenue dropping to $13.1 million from $31.2 million in Q3 2023. The company posted a gross loss of $16.8 million compared to a $7.8 million profit last year. Operating expenses increased to $12.1 million, including a $9.7 million litigation reserve. Net loss was $30.7 million versus $4.9 million net income in Q3 2023. The company has streamlined its portfolio to eight hotels with 996 rooms in New York City. LuxUrban signed a non-binding LOI for a joint venture that could provide $7 million in capital and implemented various operational initiatives including new pricing strategies and enhanced digital infrastructure.
LuxUrban Hotels (LUXH) has announced a 1-for-70 reverse stock split effective November 20, 2024, reducing outstanding shares from approximately 151.85 million to 2.17 million. The company's stockholders approved this measure at a special meeting on November 12, 2024, along with waiving the 19.99% share limitation under Nasdaq Rule 5635(d). This strategic move aims to strengthen LUXH's position in Nasdaq Capital Markets and enhance its trading profile. The company's trading symbol will remain 'LUXH' with a new CUSIP number 21985R303. Stockholders will receive cash in lieu of fractional shares.
LuxUrban Hotels Inc. (Nasdaq: LUXH) reported its Q2 2024 financial results, revealing significant changes as part of its LuxUrban 2.0 initiative. The company experienced a decrease in net rental revenue to $18.2 million, down from $31.9 million in Q2 2023. A gross loss of $22.2 million was reported, compared to a profit of $10.2 million in the previous year, impacted by increased expenses and portfolio restructuring.
The company has streamlined its portfolio to 9 hotels with 1,056 rooms, focusing on New York City. Total operating expenses decreased to $4.2 million from $5.4 million in Q2 2023. The net loss remained stable at $26.8 million. LuxUrban has implemented cost management initiatives, including renegotiating lease agreements and surrendering non-core properties. The company has also strengthened its management team with industry experts and is optimistic about growth prospects in the second half of 2024.
LuxUrban Hotels Inc. (Nasdaq: LUXH) has announced a webcast to review its financial results for the second quarter of 2024. The event is scheduled for September 25, 2024, at 5:00 PM ET. CEO Robert Arigo and CFO Mike James will provide an overview of the quarter during the webcast.
Participants can join the conference call using the following dial-in numbers:
- Toll-Free: 1-877-317-6789
- International: 1-412-317-6789
LuxUrban Hotels Inc. operates by securing long-term rights for entire hotels through Master Lease Agreements (MLA). The company manages these hotels and rents out rooms on a short-term basis to business and vacation travelers.
LuxUrban Hotels Inc. (NASDAQ: LUXH) has received a Nasdaq listing deficiency notice on August 20, 2024, due to the late filing of its Form 10-Q for the period ended June 30, 2024. The company has 60 calendar days to submit a compliance plan to Nasdaq. If accepted, LuxUrban may receive up to 180 calendar days (until February 18, 2025) to regain compliance. The notice does not immediately affect the listing or trading of LUXH securities. LuxUrban is working to file the Form 10-Q as soon as possible. The company operates by securing long-term rights for entire hotels through Master Lease Agreements and rents rooms on a short-term basis to travelers.
