LuxUrban Hotels to Participate in Jefferies Real Estate Conference

Rhea-AI Summary

LuxUrban Hotels Inc. (LUXH) will participate in the 2023 Jefferies Real Estate Conference in Miami Beach, FL. The company utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in key major metropolitan cities. As of November 8, 2023, the company had 2,032 hotel rooms under lease and seeks to rapidly build its portfolio through the acquisition of additional accommodations. LuxUrban Hotels Inc. has transitioned from leasing multifamily residential units to leasing hotels.

MIAMI--(BUSINESS WIRE)-- LuxUrban Hotels Inc. (or the “Company”) (Nasdaq: LUXH), which utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in these properties in key major metropolitan cities, today announced that it will participate in the 2023 Jefferies Real Estate Conference, taking place on December 4-5, 2023 in Miami Beach, FL.

Management will host 1x1 meetings with investors on December 4-5, and participate in a Breakout Session on Tuesday, December 5, 2023 at 10:30 am ET / Track 2.

The conference will not be webcast; however, slides will be available at the IR section of the Company’s website (Events & Presentations) at: https://investor.luxurbanhotels.com/overview/default.aspx

LuxUrban Hotels Inc.

LuxUrban Hotels Inc. utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases to business and vacation travelers through the Company’s online portal and third-party sales and distribution channels. The Company currently manages a portfolio of hotel rooms in New York, Washington D.C., Miami Beach, New Orleans and Los Angeles. As of November 8, 2023 the Company had 2,032 hotel rooms under lease, including properties not yet available for rent, and seeks to rapidly build its portfolio on favorable economics through the acquisition of additional accommodations that were dislocated or are underutilized as a result of the pandemic and current economic conditions. In late 2021, the Company commenced the process of winding down its legacy business of leasing and re-leasing multifamily residential units, as it pivoted toward its new strategy of leasing hotels. This transition has been substantially completed.

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. 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/20231121291885/en/

Shanoop Kothari

President, Co-Chief Executive Officer, and Chief Financial Officer

LuxUrban Hotels Inc.

shanoop@luxurbanhotels.com

Devin Sullivan, Managing Director

Equity Group Inc.

dsullivan@equityny.com

Conor Rodriguez, Analyst

crodriguez@equityny.com

Source: LuxUrban Hotels Inc.

FAQ

What is LuxUrban Hotels Inc.'s ticker symbol?

LuxUrban Hotels Inc.'s ticker symbol is LUXH.

Where will the 2023 Jefferies Real Estate Conference take place?

The 2023 Jefferies Real Estate Conference will take place in Miami Beach, FL.

How many hotel rooms did LuxUrban Hotels Inc. have under lease as of November 8, 2023?

As of November 8, 2023, LuxUrban Hotels Inc. had 2,032 hotel rooms under lease.

What is LuxUrban Hotels Inc.'s new business strategy?

LuxUrban Hotels Inc. has transitioned from leasing multifamily residential units to leasing hotels.