LuxUrban HotelsNASDAQ: LUXH

MIAMI, June 18, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today issued a Letter to Shareholders from Chief Executive Officer Robert Arigo.

MIAMI--(BUSINESS WIRE)--LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced the appointment of Alexander (Alex) Lombardo as an independent member of the Company's Board of Directors, effective June 4, 2024. Mr. Lombardo has more than 20 years of experience in the areas of corporate finance and accounting, project finance,.

MIAMI--(BUSINESS WIRE)--LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced the appointment of Michael James as Chief Financial Officer, effective June 4, 2024. Mr. James succeeds Shanoop Kothari, the Company's current Chief Executive Officer and former Acting Chief Financial Officer. Mr. James brings more than four decad.

MIAMI--(BUSINESS WIRE)--LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced that its Board of Directors has formed a Special Committee comprised of independent directors to explore potential strategic initiatives focused on maximizing shareholder value. The Special Committee is charged with evaluating potential strategic.

MIAMI--(BUSINESS WIRE)--LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced that it closed its previously announced public offering of 35,075,000 shares of common stock, including the full exercise by the underwriters of their over-allotment option to purchase 4,575,000 shares of common stock, at a price of $0.25 per shar.

LuxUrban Hotels is guiding to grow its units available for rent by at least 280% next year. An asset-light operating model is being used to take on the leases of partially distressed hotel properties in New York, Miami Beach, and Los Angeles. The preferreds offer a 13.6% yield on cost and a 4.4% discount to par but are incredibly speculative and would offer less upside than the commons against growth plans.

Carlyle Credit Income Fund priced an offering of preferred stock with a fixed dividend rate of 8.75%. LuxUrban Hotels priced an offering of preferred stock with a monthly fixed dividend rate of 13%. SWK Holdings priced an offering of exchange traded senior notes with a 9% interest rate.

MIAMI--(BUSINESS WIRE)--LuxUrban Hotels Inc. (“LuxUrban” 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, announced today that the Company is scheduled to present at the following conferences: October Maxim Group 2023 Virtual Tech Conference Series: Exploring All Corners of the Tech Sector: Management will participate in a virtual fireside chat.