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LuxUrban Hotels Inc. - LUXH STOCK NEWS

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.

News

LuxUrban Hotels Announces Non-Dilutive Financing of Up to $10 Million to Accelerate Growth

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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 Declares Dividend on 13.00% Series A Cumulative Redeemable Preferred Stock

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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 Announces Pilot Program to Deploy Amazon Alexa Voice Experience in Select Hotels

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LuxUrban Hotels Inc. (Nasdaq: LUXH) Launches Amazon Alexa Voice Experience Pilot Program in Three Hotels
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LuxUrban Hotels to Present at the Sidoti Micro-Cap Virtual Conference

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LuxUrban Hotels Inc. (Nasdaq: LUXH) to present at Sidoti Micro-Cap Virtual Investor Conference on November 15-16, 2023. 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 hotel rooms in New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles, with 2,032 hotel rooms under lease as of November 8, 2023. The company seeks to rapidly expand its portfolio through the acquisition of additional accommodations affected by the pandemic and current economic conditions.
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LuxUrban Hotels Inc. Announces Record 2023 Third Quarter Financial Results

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LuxUrban Hotels Inc. (Nasdaq: LUXH, LUXHP) announced Q3 2023 financial results, reporting a net rental revenue increase to $31.2 million from $11.6 million, a net income improvement to $4.9 million, and EBITDA rise to $8.4 million. The company also raised its net rental revenue and EBITDA guidance for 2023 and 2024.
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LuxUrban Hotels Inc. Schedules 2023 Third Quarter Financial Results and Conference Call

Rhea-AI Summary
LuxUrban Hotels Inc. (Nasdaq: LUXH) will report financial results for Q3 2023 on November 8, 2023. 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.
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LuxUrban Hotels Announces Closing of Series A Cumulative Redeemable Preferred Stock Offering

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LuxUrban Hotels Inc. closes underwritten public offering of 13.00% Series A Cumulative Redeemable Preferred Stock, raising $7 million. The net proceeds will be used for near-term acquisitions and general working capital purposes. The Series A Preferred Stock is expected to commence trading on the Nasdaq Capital Market on October 27, 2023.
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LuxUrban Hotels Announces Pricing of Series A Cumulative Redeemable Preferred Stock Offering

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LuxUrban Hotels Inc. announces the pricing of an underwritten public offering of its Series A Preferred Stock, resulting in gross proceeds of $7 million. The net proceeds will be used for near-term acquisitions and general working capital purposes. The offering is expected to close on or about October 26, 2023.
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LuxUrban Hotels Announces Openings of Three New York City Hotels

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LuxUrban Hotels Inc. announces the opening of three hotels in New York City and expects to add seven more properties with a total of 1,604 rooms by the end of Q4 2023.
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LuxUrban Hotels to Present at Upcoming Conferences

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LuxUrban Hotels Inc. to present at upcoming conferences
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FAQ

What is the current stock price of LuxUrban Hotels (LUXH)?

The current stock price of LuxUrban Hotels (LUXH) is $0.98 as of December 23, 2024.

What is the market cap of LuxUrban Hotels (LUXH)?

The market cap of LuxUrban Hotels (LUXH) is approximately 2.7M.

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.

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LuxUrban Hotels Inc.

Nasdaq:LUXH

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