Northland Capital downgraded LuxUrban Hotels from Outperform to Market Perform

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Significant Cost Savings Drive Strategic Investments: Transition to OTC reduces compliance costs, freeing capital to expand hotel asset ownership and fuel growth.Sharpened Focus on Core Business Execution: Streamlined operations enable LuxUrban to optimize properties and enhance guest experiences.Asset Acquisition Strategy to Boost Profitability: Targeted hotel acquisitions aim to strengthen market presence and improve profit margins.Achieves Positive Operational Cash Flow: December 2024 marks a milestone as LuxUrban reaches cash flow positivity, advancing its path to full profitability in 2025.Positioned for Future Uplisting: Strategic realignment sets the foundation for operational efficie

•  Streamlined Operations and NYC Focus Set the Stage for 2025 Growth •  RevPAR Gains and Optimized Portfolio Highlight Operational Momentum MIAMI, Jan. 15, 2025 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH), a hospitality company that leases entire hotels on a long-term basis, manages these hotels, and rents out rooms to guests in the properties it leases, today provided a comprehensive corporate update, highlighting recent business achievements and sharing its 2025 revenue guidance and strategic milestones. It has been a transformative year for LuxUrban Hotels, Inc., marked by substantial progress in improving the business, streamlining operations, and building a strong founda

MIAMI, Jan. 14, 2025 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH), a premier name in contemporary urban hospitality, is proud to announce an innovative partnership to enable digital currency payments to all nine properties in the Company's portfolio. By integrating blockchain-based payment solutions, Lux Urban is setting new standards for the modern traveler, who values convenience, security, and next-generation financial options. Guests staying at Lux Urban Hotels will soon have the option to pay for their stays using a variety of digital currencies, offering a seamless and decentralized payment experience. By integrating blockchain-powered payment solutions, Lux Urban rede

-Strategic initiative would provide LuxUrban with a $7 million initial capital infusion, offering the opportunity to broaden its market impact representing a key milestone in building Lux 2.0 -Joint venture would leverage advanced technology integration to streamline operations, elevate service offerings, and deliver an enhanced guest experience MIAMI, Nov. 20, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH), a hospitality company that leases entire hotels on a long-term basis, manages these hotels, and rents out rooms to guests in the properties it leases, today announced the signing of a Non-Binding Letter of Intent (LOI) with Lockwood Development Partners LLC and The Brigh

MIAMI, Nov. 20, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH), a hospitality company that leases entire hotels on a long-term basis, manages these hotels, and rents out rooms to guests in the properties it leases, today announced its financial results for the third quarter ended September 30, 2024 ("Q3 2024"). The Company filed its quarterly report on Form 10-Q for Q3 2024 with the U.S. Securities and Exchange Commission on November 19, 2024. Q3 2024 Financial Overview: Net Rental Revenue: $13.1 million, compared to $31.2 million in Q3 2023.Gross (Loss) Profit: $(16.8) million, compared to a profit of $7.8 million in Q3 2023, impacted by [brief explanation of fa

MIAMI, Nov. 15, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH), a hospitality company that leases entire hotels on a long-term basis, manages these hotels, and rents out rooms to guests in the properties it leases, today announced that it will effectuate a one-for-seventy (1:70) reverse stock split of its common stock. This reverse stock split was approved by stockholders at the special meeting held on November 12, 2024, and will be effective at the opening of trading on November 20, 2024. The reverse stock split is part of LuxUrban Hotels' strategy to strengthen its position within the Nasdaq Capital Markets, improve the stock's trading profile, and position the company for

MIAMI, Sept. 25, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH), a hospitality company that leases entire hotels on a long-term basis, manages these hotels, and rents out rooms to guests in the properties it leases, today announced its financial results for the second quarter ended June 30, 2024 ("Q2 2024"). The Company has also submitted its quarterly report on Form 10-Q to the U.S. Securities and Exchange Commission. Q2 2024 Financial Overview: Net Rental Revenue: $18.2 million, compared to $31.9 million in Q2 2023.Gross (Loss) Profit: $(22.2) million, compared to a profit of $10.2 million in Q2 2023, impacted by increased rent expenses, surrender of deposits from exiting

MIAMI, Sept. 25, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. ("LuxUrban" or the "Company") (NASDAQ:LUXH), which secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) under which it manages the hotel and rents out, on a short-term basis, rooms to business and vacation travelers, will host a webcast to review the results of the 2nd quarter of 2024 on September 25th, 2024 at 5:00PM ET. The webcast will feature an overview of the quarter from Robert Arigo, CEO, and Mike James, CFO. To register for the event, please click HERE. Conference Call & Webcast Information: Time & Date: September 25, 2024, at 5:00PM ETPARTICIPANT DIAL IN (TOLL FREE): 1-877-317

MIAMI, Aug. 26, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. (NASDAQ:LUXH) today announced it has received a notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq") on August 20, 2024 indicating that the Company is not currently in compliance with Nasdaq's Listing Rules ("the Listing Rules") due to the Company's not timely filing its Form 10-Q for the period ended June 30, 2024 (the "Form 10-Q") with the Securities and Exchange Commission ("SEC"). The Notice does not immediately affect the listing or trading of the Company's securities. According to Listing Rule 5250(c)(1), the Company was required to file Form 10-Q by August 14, 2024 (the "Due Date"). The Company previously rep

MIAMI, Aug. 13, 2024 (GLOBE NEWSWIRE) -- LuxUrban Hotels Inc. ("LuxUrban" or the "Company") (NASDAQ:LUXH), which secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) under which it manages the hotel and rents out, on a short-term basis, rooms to business and vacation travelers, today announced that it has closed the first tranche of a private offering (the "Notes Offering") to sell up to $10 million aggregate principal amount of new senior secured convertible notes due 2027 (the "Notes") and common stock purchase warrants ("Note Warrants") in one or more closings through August 30, 2024. The first tranche closing occurred on August 13, 2024 and gene

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MIAMI, June 27, 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 announced the appointment of Patrick McNamee as an independent member of the Company's Board of Directors ("Board"), effective June 27, 2024. The Company also announced that Brian Ferdinand has resigned from the Board. Mr. McNamee is a seasoned and accomplished business leader who brings more than 30 years of experience as a public company executive, investor, and board member. He will serve as Chair of LuxUrban's Compensation Committe

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, development, construction, and management for both private and public companies. He will serve on LuxUrban's Audit and Finance, Risk and Investment Committees, as well as the Company's recently formed Special Committee to

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 decades of experience as a financial and operating executive, board member, and investor to his new role. He has advised and led financial strategy and operations for companies across industries and at various stages of growth.

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 Andrew Schwartz to the Company's Board of Directors, effective April 22, 2024. Mr. Schwartz will serve on the Company's Finance, Risk and Investment Committee. With Mr. Schwartz's appointment, the Company's board expands to seven members, six of whom are independent. Mr. Schwartz was a Managing Director of Silver Point Capital, an investment manager focused across multiple synergistic strategies, including real estate, direct lending, capital solu

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 Elan Blutinger as Non-Executive Chairman of the Board of Directors, effective April 22, 2024. Mr. Blutinger, who joined the board in February 2024 as part of an overall strategy to strengthen industry representation across the enterprise, succeeds Brian Ferdinand, the Company's founder, former Chief Executive Officer, and largest shareholder. Mr. Ferdinand will remain a director. Shanoop Kothari, the Company's co-Chief Executive Officer, becomes the

Hotel & Hospitality Industry Veteran Brings 35 Years of Experience to New Role LuxUrban Hotels Inc. ("LuxUrban" or the "Company") (NASDAQ:LUXH), a hospitality company which utilizes an asset-light business model to lease entire hotels on a long-term basis in partnership with Wyndham Hotels & Resorts, today announced that it has named hotel and hospitality industry veteran Robert Arigo as its Chief Operating Officer, effective March 15, 2024. Mr. Arigo, who brings 35 years of industry experience to LuxUrban, will be primarily responsible for the day-to-day operations of the Company's hotel portfolio, with a focus on enhancing property-level operations, optimizing supply chain relationshi

To be Rebranded the J Hotel by LuxUrban, a Wyndham Grand® Hotel 353-Room Historic Property is LuxUrban's Largest Operating Rights Acquisition to Date 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, today announced that it has signed and funded a 15-year Master Lease Agreement (MLA), plus two, five-year options, to operate The James NoMad Hotel in New York City. LuxUrban expects that The James will be rebranded as The J Hotel by LuxUrban, a Wyndham Grand® Hotel. The Company expects to take possession of t

Hotel 57, Condor, and Lafayette Join Wyndham Brand Family Announces Expected Opening of New Boutique Hotel in New York City in October 2023 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 Hotel 57 in New York City, the Condor Hotel in Brooklyn, and the Lafayette Hotel in New Orleans have been re-branded as "The Hotel 57, Trademark Collection® by Wyndham," "The Condor Hotel, Trademark Collection® by Wyndham," and "The Lafayette Hotel, Trademark Collection® by Wyndham," respectivel