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. (symbol: LUXH) is a dynamic hospitality company that leverages a unique asset-light business model. The company focuses on acquiring and managing a growing portfolio of short-term rental properties through long-term leases in major metropolitan cities. Under its consumer brand, LuxUrban, the company markets hotel rooms to both business and vacation travelers.
LuxUrban's portfolio spans prominent cities including New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles, offering a diverse range of accommodations to meet the needs of various travelers. By opting for long-term leases rather than outright property purchases, LuxUrban maintains operational flexibility and minimizes capital expenditure, allowing for sustainable expansion and adaptation to market changes.
Recent achievements include significant growth in their property portfolio and enhanced market presence across key urban locations. LuxUrban continues to establish strategic partnerships and alliances to bolster its service offerings and customer reach. The company is committed to delivering exceptional hospitality experiences through meticulous management and marketing of its properties.
Financially, LuxUrban has demonstrated resilience and steady growth, positioning itself as a key player in the short-term rental market. The company's innovative approach and geographic diversity provide a competitive edge in the hospitality industry. Stay updated with LuxUrban Hotels Inc. for the latest developments, performance insights, and strategic initiatives.
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LuxUrban Hotels Inc. (Nasdaq: LUXH, LUXHP) announces monthly cash dividend for its 13.00% Series A Cumulative Redeemable Preferred Stock. Dividend per share $0.270833. 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 30, 2023, the Company had 2,032 hotel rooms under lease in cities like New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles.
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LuxUrban Hotels Inc. (Nasdaq: LUXH) will host an Investor Day on February 6, 2024, in New York City. The event will feature presentations by the company's leadership team and industry partners. LuxUrban utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in key metropolitan cities. The company currently manages a portfolio of hotel rooms in major cities and seeks to rapidly expand its portfolio. LuxUrban has transitioned from leasing multifamily residential units to leasing hotels.
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LuxUrban Hotels Inc. (Nasdaq: LUXH, LUXHP) has declared a monthly cash dividend for its 13.00% Series A Cumulative Redeemable Preferred Stock. The dividend per share is $0.270833, with a record date of December 15, 2023, and a payment date of January 2, 2024. 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. LuxUrban currently manages a portfolio of 2,032 hotel rooms in cities like New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles, and seeks to expand its portfolio through the acquisition of additional accommodations affected by the pandemic and current economic conditions.
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LuxUrban Hotels Inc. (Nasdaq: LUXH) has announced the cancellation of a financing arrangement and is in active discussions with its partner, Wyndham Hotels & Resorts, Inc., regarding Development Incentive Advances. The Chairman and Co-CEO has ceased further sales of the company's common stock, and the company is focusing on expanding its industry presence and portfolio of hotel rooms.
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LuxUrban Hotels Inc. (Nasdaq: LUXH) will participate in the 19th Annual Noble Capital Markets Emerging Growth Equity Conference on December 4, 2023. The company utilizes an asset-light business model to lease entire hotels and rent out hotel rooms in key major metropolitan cities. As of November 30, 2023, the company had 2,032 hotel rooms under lease and seeks to rapidly build its portfolio through the acquisition of additional accommodations dislocated or underutilized due to the pandemic and current economic conditions.
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LuxUrban Hotels Inc. (Nasdaq: LUXH) has signed 25-year Master Lease Agreements to operate two new boutique hotels in New York City: The Royalton Hotel and the Truss Hotel. The Royalton by LuxUrban is a 168-room boutique property near Times Square, and the Truss Hotel by LuxUrban offers 86 sleek and upscale rooms near Times Square. The company also has a robust pipeline of hotel properties and seeks to have approximately 6,000 hotel rooms under Master Lease Agreements by June 30, 2024.
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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.
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LuxUrban Hotels Inc. (Nasdaq: LUXH) announced a non-dilutive financing agreement of up to $10 million, sponsored by the Company’s Chairman and Co-Chief Executive Officer, Brian Ferdinand. The 36-month unsecured advancing term promissory note bears interest at a rate of 1% annually, is prepayable, has no penalties, and must be used for growth capital. The Note will be funded through the sale of shares of the Company’s common stock controlled by Mr. Ferdinand. The proceeds will be used to fund the Note and accelerate the Company’s ability to build density in existing markets and enter new destination locations. The financing is not required to achieve the Company’s previously issued 2023 and 2024 guidance with respect to net rental revenue, EBITDA, and hotel rooms under long-term Master Lease Agreements.
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LuxUrban Hotels Inc. (Nasdaq: LUXH, LUXHP) declares the initial monthly cash dividend for the Company’s 13.00% Series A Cumulative Redeemable Preferred Stock. The dividend per share is $0.315972, with a record date of November 27, 2023, and a payment date of November 30, 2023. LuxUrban Hotels Inc. 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.
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LuxUrban Hotels Inc. (Nasdaq: LUXH) Launches Amazon Alexa Voice Experience Pilot Program in Three Hotels
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FAQ
What is the current stock price of LuxUrban Hotels (LUXH)?
The current stock price of LuxUrban Hotels (LUXH) is $0.0369 as of November 4, 2024.
What is the market cap of LuxUrban Hotels (LUXH)?
The market cap of LuxUrban Hotels (LUXH) is approximately 5.1M.
What does LuxUrban Hotels Inc. do?
LuxUrban Hotels Inc. acquires and manages short-term rental properties in major metropolitan cities through long-term leases, marketing them under the LuxUrban brand to business and vacation travelers.
Where are LuxUrban Hotels Inc.'s properties located?
LuxUrban Hotels Inc. manages properties in cities such as New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles.
What business model does LuxUrban Hotels Inc. use?
LuxUrban Hotels Inc. employs an asset-light business model, focusing on long-term leases rather than purchasing properties outright.
Who are the primary customers of LuxUrban Hotels Inc.?
The primary customers are business and vacation travelers looking for short-term rentals in metropolitan cities.
How does LuxUrban Hotels Inc. market its properties?
LuxUrban markets its properties under the consumer brand 'LuxUrban,' targeting both business and vacation travelers through strategic marketing initiatives.
What recent achievements has LuxUrban Hotels Inc. made?
LuxUrban Hotels Inc. has significantly expanded its property portfolio and enhanced its market presence across key urban locations.
What is the financial condition of LuxUrban Hotels Inc.?
LuxUrban Hotels Inc. has demonstrated resilience and steady growth, positioning itself strongly in the short-term rental market.
What makes LuxUrban Hotels Inc. unique?
LuxUrban's use of an asset-light business model and focus on long-term leases allows for operational flexibility and sustainable expansion.
How can I stay updated with LuxUrban Hotels Inc.?
You can stay updated by following the latest news and performance insights about LuxUrban Hotels Inc. on financial and stock market platforms.
What strategic initiatives is LuxUrban Hotels Inc. undertaking?
LuxUrban is establishing strategic partnerships and alliances to enhance its service offerings and expand its customer reach.
LuxUrban Hotels Inc.