LuxUrban Hotels Schedules 2023 Fourth Quarter and Full Year Financial Results and Conference Call

Rhea-AI Summary

LuxUrban Hotels Inc. (LUXH) announces financial results for Q4 and full year 2023. The company, utilizing an asset-light model in partnership with Wyndham Hotels & Resorts, will host a conference call on March 27, 2024, to discuss the results.

MIAMI--(BUSINESS WIRE)-- LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which utilizes an asset-light business model to lease entire hotels on a long-term basis in partnership with Wyndham Hotels & Resorts, announced today it will report financial results for the fourth quarter and full year ended December 31, 2023 on Tuesday, March 26, 2024 after the close of the stock market. The Company will host a conference call on Wednesday, March 27, 2024 at 10:00 am Eastern Time to discuss the results.

Investors interested in participating in the live call can dial:

• (800) 715-9871 - U.S.
• (646) 307-1963 - International

A simultaneous webcast of the call may be accessed online from the Events & Presentations section of the Investor Relations page of the Company’s website at www.luxurbanhotels.com. You may pre-register for the webcast using this link: https://events.q4inc.com/attendee/495775414

LuxUrban Hotels Inc.

LuxUrban Hotels Inc. utilizes an asset light business model to secure the 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 aggressively 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. Through its partnership with Wyndham Hotels & Resorts, the largest hotel company in the world by rooms, LuxUrban gains several competitive advantages including joint branding for marketing, sales, and distribution, capital allocation from Wyndham for each hotel it acquires, and ongoing customer support and training across its portfolio.

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 success of the Company’s collaboration with Wyndham Hotels & Resorts, scheduled property openings, expected closing of noted lease transactions, 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, 2022, and any updates to those factors as set forth in subsequent Quarterly Reports on Form 10-Q or other public filings with the SEC. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240312085612/en/

Shanoop Kothari

President, Co-Chief Executive Officer & Chief Financial Officer

LuxUrban Hotels Inc.

shanoop@luxurbanhotels.com

Devin Sullivan

Managing Director

The Equity Group Inc.

dsullivan@equityny.com

Conor Rodriguez, Analyst

crodriguez@equityny.com

Source: LuxUrban Hotels Inc.

FAQ

When will LuxUrban Hotels Inc. report financial results for Q4 and full year 2023?

LuxUrban Hotels Inc. will report financial results for the fourth quarter and full year ended December 31, 2023 on Tuesday, March 26, 2024, after the close of the stock market.

What is LuxUrban Hotels Inc.'s business model?

LuxUrban Hotels Inc. utilizes an asset-light business model to secure long-term operating rights for entire hotels through Master Lease Agreements (MLA) and rents out hotel rooms on a short-term basis to business and vacation travelers.

Who is LuxUrban Hotels Inc.'s partner?

LuxUrban Hotels Inc. partners with Wyndham Hotels & Resorts, the largest hotel company in the world by rooms, to gain competitive advantages in marketing, sales, distribution, capital allocation, and customer support.

How can investors participate in LuxUrban Hotels Inc.'s conference call?

Investors interested in participating in LuxUrban Hotels Inc.'s conference call can dial (800) 715-9871 for U.S. participants and (646) 307-1963 for international participants. A webcast of the call can be accessed online from the Investor Relations page of the company's website.