LuxUrban Hotels and HotelRez launch Global Partnership
LuxUrban Hotels Inc. (Nasdaq: LUXH) has launched a global partnership with HotelRez, a London-based company, for Global Distribution Systems (GDS) connectivity. This collaboration connects LuxUrban with four major GDS, reaching over 500,000 agencies worldwide. The partnership aims to increase distribution and diversify booking channels for LuxUrban, with expected sales growth beginning in late Q3 and Q4 of 2024.
LuxUrban operates by securing long-term rights for entire hotels through Master Lease Agreements (MLA), managing the properties and renting rooms on a short-term basis to business and vacation travelers. The company is strategically building a portfolio in destination cities, capitalizing on commercial real estate market dislocations and upcoming debt maturity obligations.
LuxUrban Hotels Inc. (Nasdaq: LUXH) ha avviato una partnership globale con HotelRez, una società con sede a Londra, per la connettività ai Sistemi di Distribuzione Globale (GDS). Questa collaborazione collega LuxUrban con quattro principali GDS, raggiungendo oltre 500.000 agenzie in tutto il mondo. L'obiettivo della partnership è aumentare la distribuzione e diversificare i canali di prenotazione per LuxUrban, con una crescita delle vendite prevista a partire dalla fine del terzo trimestre e il quarto trimestre del 2024.
LuxUrban opera garantendo diritti a lungo termine per interi hotel attraverso contratti di locazione principale (MLA), gestendo le proprietà e affittando camere su base temporanea a viaggiatori d'affari e turisti. L'azienda sta costruendo strategicamente un portafoglio nelle città di destinazione, cercando di capitalizzare sulle dislocazioni del mercato immobiliare commerciale e sugli obblighi di scadenza del debito imminenti.
LuxUrban Hotels Inc. (Nasdaq: LUXH) ha lanzado una colaboración global con HotelRez, una compañía con sede en Londres, para la conectividad a los Sistemas de Distribución Global (GDS). Esta colaboración conecta a LuxUrban con cuatro principales GDS, alcanzando más de 500,000 agencias en todo el mundo. El objetivo de la asociación es Aumentar la distribución y diversificar los canales de reservas para LuxUrban, con un crecimiento en las ventas esperado a partir de finales del tercer trimestre y cuarto trimestre de 2024.
LuxUrban opera asegurando derechos a largo plazo para hoteles completos a través de Contratos de Arrendamiento Maestro (MLA), gestionando las propiedades y alquilando habitaciones a corto plazo para viajeros de negocios y turistas. La empresa está construyendo estratégicamente un portafolio en ciudades de destino, capitalizando las dislocaciones en el mercado inmobiliario comercial y las obligaciones de vencimiento de deuda que se acercan.
LuxUrban Hotels Inc. (Nasdaq: LUXH)는 런던에 본사를 둔 회사 HotelRez와 함께 글로벌 배급 시스템(GDS) 연결을 위한 글로벌 파트너십을 시작했습니다. 이 협력으로 LuxUrban은 4개의 주요 GDS에 연결되어 전 세계 500,000개 이상의 여행사에 도달하게 됩니다. 이 파트너십의 목표는 유통을 증가시키고 예약 채널을 다양화하는 것으로, 판매 성장은 2024년 3분기 말과 4분기부터 시작될 것으로 예상됩니다.
LuxUrban은 마스터 임대 계약(MLA)을 통해 전체 호텔에 대한 장기 권리를 확보하고, 자산을 관리하며 비즈니스 및 휴가 여행자를 위해 단기적으로 객실을 제공합니다. 이 회사는 전략적으로 여행지 도시에서 포트폴리오를 구축하여 상업용 부동산 시장의 불균형과 다가오는 채무 만기를 활용하고 있습니다.
LuxUrban Hotels Inc. (Nasdaq: LUXH) a lancé un partenariat mondial avec HotelRez, une société basée à Londres, pour la connectivité aux Systèmes de Distribution Globale (GDS). Cette collaboration relie LuxUrban à quatre GDS majeurs, atteignant plus de 500 000 agences à l'échelle mondiale. L'objectif de ce partenariat est d'augmenter la distribution et de diversifier les canaux de réservation pour LuxUrban, avec une croissance des ventes prévue à partir de fin T3 et T4 2024.
LuxUrban fonctionne en obtenant des droits à long terme pour des hôtels entiers grâce à des Contrats de Location Maître (MLA), en gérant les propriétés et en louant des chambres à court terme aux voyageurs d'affaires et aux vacanciers. L'entreprise construit stratégiquement un portefeuille dans des villes de destination, capitalisant sur les déséquilibres du marché immobilier commercial et les obligations d'échéance de la dette à venir.
LuxUrban Hotels Inc. (Nasdaq: LUXH) hat eine globale Partnerschaft mit HotelRez, einem in London ansässigen Unternehmen, für die Konnektivität zu Global Distribution Systems (GDS) gestartet. Diese Zusammenarbeit verbindet LuxUrban mit vier großen GDS, und erreicht über 500.000 Reisebüros weltweit. Ziel der Partnerschaft ist es, die Verteilung zu erhöhen und die Buchungskanäle zu diversifizieren für LuxUrban, mit einem erwarteten Verkaufswachstum ab Ende Q3 und Q4 2024.
LuxUrban betreibt, indem es langfristige Rechte an ganzen Hotels durch Master-Leasing-Verträge (MLA) sichert, die Immobilien verwaltet und Zimmer kurzfristig an Geschäfts- und Urlaubsreisende vermietet. Das Unternehmen baut strategisch ein Portfolio in Zielstädten auf und nutzt die Ungleichgewichte auf dem kommerziellen Immobilienmarkt und bevorstehende Fälligkeiten von Schulden.
- Partnership with HotelRez connects LuxUrban to four major Global Distribution Systems
- Reach expanded to over 500,000 agencies worldwide
- Expected sales growth beginning in late Q3 and Q4 of 2024
- Diversification of booking channels
- None.
MIAMI, July 23, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), which secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) under which it manages the hotel and rents out, on a short-term basis, rooms to business and vacation travelers, launched a partnership with HotelRez, a London based company, for Global Distribution Systems (“GDS”) connectivity. LuxUrban is now connected with four major GDS reaching over 500,000 agencies worldwide.
Rob Arigo, CEO of LuxUrban stated, “This new relationship increases our distribution while diversifying our booking channels. We expect this partnership to drive sales beginning in late Q3 and Q4 of 2024. Our hotels serve a global client base and this partnership gives us the reach required to increase sales in those markets.”
LuxUrban Hotels Inc.
LuxUrban Hotels Inc. secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) and rents out, on a short-term basis, hotel rooms to business and vacation travelers. The Company is strategically building a portfolio of hotel properties in destination cities by capitalizing on the dislocation in commercial real estate markets and the large amount of debt maturity obligations on those assets coming due with a lack of available options for owners of those assets. LuxUrban’s MLA allows owners to hold onto their assets and retain their equity value while LuxUrban operates and owns the cash flows of the operating business for the life of the MLA.
Forward Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). The statements contained in this release that are not purely historical are forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Generally, the words “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this release may include, for example, statements with respect to the Company’s ability to reduce costs, effectively and cost-efficiently operate its smaller hotel portfolio, evolve its business model and execute against the described strategies and objective, its ability to realize benefits from actions taken to date and contemplated to be taken going forward, the Company’s ability to continue closing on additional leases for properties in the Company’s pipeline, as well the Company’s anticipated ability to commercialize efficiently and profitably the properties it leases and will lease in the future. The forward-looking statements contained in this release are based on current expectations and belief concerning future developments and their potential effect on the Company. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements are subject to a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results of performance to be materially different from those expressed or implied by these forward-looking statements, including those set forth under the caption “Risk Factors” in our public filings with the SEC, including in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on April 15, 2024, and any updates to those factors as set forth in subsequent Quarterly Reports on Form 10-Q or other public filings with the SEC. While the Company believes it has suitably reserved on its balance sheet potential liabilities that could arise in connection with the efforts and actions described in this release the Company’s recent and proposed actions have included and may continue to include the termination of certain commercial relationships and agreements, which has resulted, and in the future may result, in threatened claims and litigations that could require the Company to negotiate termination terms or related settlements. There can be no assurance that the Company will be successful in implementing the changes described herein or that such changes individually or in whole will result in material cost savings, improved margins, or improved general operational performance by the Company. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Contact
Robert Arigo
Chief Executive Officer
rob@luxurbanhotels.com
FAQ
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