LuxUrban Hotels to Present at LD Micro Main Event XVI

Rhea-AI Summary

LuxUrban Hotels Inc. to present at LD Micro Main Event XVI Conference on October 3-4, 2023 and host 1x1 meetings. The company utilizes an asset-light business model to lease entire hotels and currently manages a portfolio of over 1,600 hotel rooms. It seeks to rapidly build its portfolio through the acquisition of additional accommodations. The company has completed the transition from leasing residential units to leasing hotels.

Miami, Florida--(Newsfile Corp. - September 27, 2023) - LuxUrban Hotels Inc. (NASDAQ: LUXH) ("LuxUrban" or the "Company"), 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, announced today that it will present at the LD Micro Main Event XVI Conference taking place October 3-4, 2023. The Company will also host 1x1 meetings during the event.

Details of the Company's participation are as follows:

• Date: Tuesday, October 3, 2023 / Track 2
• Time: 2:30 pm ET / 11:30 am PT
• Webcast: accessible via https://me23.sequireevents.com/ or at the Investors section of LuxUrban's website 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 the date of this release, the company has over 1,600 hotel rooms 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. 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 financial and operational guidance, 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 10-K for the year ended December 31, 2022 and in Item 1A of our Form 10-Q for the three months ended June 30, 2023. 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

Shanoop Kothari
President & Chief Financial Officer
LuxUrban Hotels Inc.
shanoop@luxurbanhotels.com

Devin Sullivan
Managing Director
The Equity Group Inc.
dsullivan@equityny.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181977