LUXHP LuxUrban Hotels Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): November 19, 2024

 

LuxUrban Hotels Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware		001-41473		82-3334945
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

2125 Biscayne Blvd, Suite 253, Miami, Florida		33137
(Address of Principal Executive Offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (877) 269-5952

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Ticker symbol(s)		Name of each exchange on which registered
Common Stock, $0.00001 par value per share		LUXH		The Nasdaq Stock Market LLC
13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share		LUXHP		The Nasdaq Stock Market LLC

 

 

 

Item 2.02

Results of Operations and Financial Condition.

 

On November 20, 2024, LuxUrban Hotels Inc. (the “Company”) issued a press release (the “Earnings Press Release”) summarizing the financial results for the quarter ended September 30, 2024. The full text of the Earnings Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

 

ITEM 8.01.

OTHER EVENTS.

 

On November 19, 2024, the Company announced the signing of a Non-Binding Letter of Intent (the “LOI”) with Lockwood Development Partners LLC (“Lockwood”) and The Bright Hospitality Management, LLC (“Bright”) proposing to establish a joint venture (“JV”) focused on hotel services and operations. If consummated as contemplated by the LOI, the JV would provide the Company with a $7 million initial capital infusion, leverage advanced technology integration to streamline operations and elevate service offerings, and deliver an enhanced guest experience.

 

The JV would initially focus on two Company properties in New York City, with the parties to consider expansion of the relationship to include additional Company hotels based on success of the pilot initiative. The collaboration would leverage Lockwood’s established presence in hotel development and Bright’s innovative hospitality technology to create a unique guest experience and optimize operational efficiencies.

 

The key highlights of the JV are as follows:

 

●

Initial Capital Investment: Lockwood would initially invest approximately $7 million to address certain obligations in arrears with respect to, and enhance facilities in, the two JV pilot hotels, with potential additional investments reaching up to $35 million if all existing Company hotels are later added to the JV structure.

 

●

Property Enhancements: The JV will focus on rejuvenating the initial two JV properties, incorporating advanced technologies and amenities designed to improve operational performance and guest satisfaction.

 

●

Technology-Driven Guest Experience: The JV would leverage Bright's platform, which features AI-driven management tools, to enhance guest satisfaction and streamline hotel operations.

 

●

Brand Integration: The JV would introduce Lockwood’s Vitality brand to the New York City market, enhancing customer engagement through a loyalty program and cohesive branding strategy.

 

●

Scalable Growth: The LOI contemplates that the definitive agreements will outline a pathway for expanding the JV to include additional Company properties, contingent upon achieving initial success and obtaining necessary consents and approvals, including the approval of the stockholders and noteholders of the Company and the landlords for any additional properties.

 

Consummating this initial pilot JV will require approval of the landlords for the pilot hotels, approval of certain of the Company’s debt holders (which has been obtained), and the negotiation and execution by the parties of definitive agreements governing the JV. While the parties will work closely together to secure all consents and approvals and finalize the definitive agreements, there can be no certainty that these will be obtained and executed. There are numerous risks and factors that could result in the terms of the JV being modified or not being consummated or commercially launched at all. The Company will disclose final terms of the definitive agreements if and when same are executed.

 

On November 20, 2024, the Company issued a press release (the “Joint Venture Press Release”) describing the LOI and contemplated JV. The full text of the LOI Press Release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference herein.

 

 

Forward Looking Statements

 

This Current Report on Form 8-K, including the exhibits hereto, 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 Exchange Act). 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 the Company’s ability to successfully de-platform its properties from its former franchise partner and operate independently, its ability to improve its working capital and cash flow profiles, enhance its balance sheet and deliver organic revenue growth, 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 Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 15, 2024, the Quarterly Report on Form 10-Q for the three and six months ended June 30, 2024, filed with the SEC on September 25, 2024, and any updates to those factors as set forth in subsequent Quarterly Reports on Form 10-Q or other public filings with the SEC. The forward-looking information and forward-looking statements contained in this Current Report on Form 8-K are made as of the date hereof, 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. 

 

ITEM 9.01.

FINANCIAL STATEMENT AND EXHIBITS.

 

(d)

Exhibits:

 

Exhibit No.		Description
99.1		Earnings Press Release
99.2		Joint Venture Press Release

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: November 20, 2024	LUXURBAN HOTELS INC.
	By:	/s/ Michael James
		Name:	Michael James
		Title:	Chief Financial Officer

 

 

Exhibit 99.1

 

LuxUrban Hotels Inc. Reports Third Quarter 2024 Financial Results

 

MIAMI, November 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 factors affecting performance]. We have streamlined our hotel portfolio to exclude underperforming properties and now manage eight (8) hotels with a total of 996 rooms.

 

●

Total Operating Expenses: $12.1 million, compared to $2.7 million in Q3 2023, reflecting $9.7 million reserve for litigation with landlords.

 

●

Net Loss: $30.7 million, compared to a net income of $4.9 million in Q3 2023.

 

Rob Arigo, LuxUrban Hotels CEO, commented: “As we close out 2024 and enter 2025, we are excited to build on our LuxUrban 2.0 initiative. This strategy not only focuses on the elimination of non-performing hotel properties but also reinforces our commitment to enhancing operational efficiency. We have strengthened our management team by bringing on talented directors and officers with deep expertise in the hospitality and financial sectors. While challenges remain as we continue to transition from, and address obligations related to, legacy operations, we believe that the transformative changes we are implementing will enhance our financial stability and set a solid foundation for future growth. We look forward to updating our shareholders as we advance on this path and capitalize on the opportunities ahead.”

 

Recent Highlights:

 

●

Signed Non-Binding Letter of Intent for Proposed Joint Venture: LuxUrban Hotels recently signed a non-binding letter of intent for a proposed joint venture with Lockwood Development Partners LLC and The Bright Hospitality. If consummated, this strategic initiative will provide LuxUrban with a $7 million initial capital infusion and leverage advanced technology integration intended to streamline operations, elevate service offerings, and deliver an enhanced guest experience.

 

 

●

Key Operational Initiatives: With the onboarding of new management, the company has made material changes to increase operational efficiency. LuxUrban is addressing legacy pre-sold rooms that were negotiated at reduced rates during prior periods. The company estimates that 95% of this inventory will be utilized by the end of 2024. New rates will be available in the first quarter of 2025, transitioning to standard higher average daily rates (ADRs). Changes implemented during Q3 2024 were aimed at enhancing revenue optimization, increasing expense reduction, and supporting rebranding initiatives, with a focus on long-term master lease agreements to eliminate traditional fees. Additionally, LuxUrban has implemented the following changes:

 

●

Shifted sales strategy from a discounted advanced purchase model to a dynamic, competitive-based pricing model.

 

●

Strengthened OTA partnerships and negotiated reduced commission rates for preferred member programs.

 

●

Expanded the sales mix by incorporating wholesale and consortia/corporate accounts while boosting the share of direct reservations.

 

●

Enhanced Digital Infrastructure: LuxUrban Hotels has partnered with FLYR to focus on enhancing revenue performance through advanced data insights and optimized pricing strategies. The FLYR RMS tool integrates with Lighthouse and STR data for real-time dynamic pricing adjustments based on market conditions.

 

●

Refinement of Hotel Portfolio: LuxUrban Hotels has refined its hotel portfolio to focus its geographic operations within New York City. This provides the company with stronger access to hotel operations and management. The company exited the Lafayette Hotel in New Orleans, a historical property with 77 room keys, which struggled during off-peak seasons and required renovations that negatively impacted profitability. LuxUrban is now operating eight (8) properties in New York, with a total of 996 units available.

 

●

Cost Management Initiatives: In Q3 2024, the company took action to reduce operational expenses, including the strategic alignment of hotel properties with preferred vendors to optimize profitability. Additionally, expense budgets were streamlined across all hotels to ensure that new vendor expenses align with industry standards.

 

●

New Adjacent Hotel Entertainment: LuxUrban’s Hotel 57 and Tuscany Hotel both have significant entertainment operations opening adjacent to the hotels. Hotel 57 will feature Aura 57, providing a vibrant karaoke bar and lounge, while the Tuscany Hotel will neighbor the Bukhara Grill, a beloved staple of Murray Hill that is reopening. Both establishments will enhance visibility for the hotels and improve the guest experience.

 

●

Strengthening the Company with Industry Expertise: The company has added over 60 years of relevant industry and public company experience at both the executive and Board levels. This includes the appointment of:

 

○

Margarita Garcia – Senior Vice President of Operations

 

 

○

Chris Gennardo – Senior Vice President of Sales, Marketing, & Revenue Management

 

○

Tess Guzik – Corporate Director of Revenue Strategy

 

○

Anjanie Narain – Director of Communications, Training, and Transitions

 

Outlook:

 

LuxUrban is enthusiastic about the launch of Lux 2.0 and the potential of the recently signed non-binding letter of intent for a joint venture with Lockwood Development Partners LLC and The Bright Hospitality. If signed, this partnership is set to introduce advanced technology that will enhance operational efficiency and elevate the guest experience. The company’s strategic focus on key operational initiatives has led to material improvements in revenue optimization and expense reduction, along with a commitment to long-term Master Lease Agreements to streamline costs. By consolidating its hotel portfolio in New York City, LuxUrban is well-positioned to capitalize on significant growth opportunities in this key market. As the Company closes out 2024, LuxUrban is excited to embark on 2025 with a strong management team and a clear vision for the future.

 

For access to all applicable financial statements, please see the company’s quarterly report on Form 10-Q at the following link:

 

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001893311/000182912624007692/luxurbanhotels_10q.htm

 

LuxUrban Hotels Inc.

 

LuxUrban Hotels Inc. secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) and rents out, on a short-term basis, hotel rooms to business and vacation travelers. The Company is strategically building a portfolio of hotel properties in destination cities by capitalizing on the dislocation in commercial real estate markets and the large amount of debt maturity obligations on those assets coming due with a lack of available options for owners of those assets. LuxUrban’s MLA allows owners to hold onto their assets and retain their equity value while LuxUrban operates and owns the cash flows of the operating business for the life of the MLA.

 

 

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 the Company’s ability to successfully finalize definitive documentation relating to the JV, ability to timely obtain all necessary consents to the JV, its ability to successfully launch the JV, the economic benefits to the Company with respect to the JV, both in its pilot form and any expanded form, its ability to improve its working capital and cash flow profiles, enhance its balance sheet and deliver organic revenue growth, 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 the JV will be consummated as currently planned or at all or that other 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 Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on April 15, 2024, and any updates to those factors as set forth in subsequent Quarterly Reports on Form 10-Q or other public filings with the SEC, the base prospectus comprising part of the Registration Statement and when filed, the prospectus supplement filed with respect thereto. 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.

 

For more information, contact:

 
Investor Relations:
Jeff Ramson, PCG Advisory
Email: Jramson@pcgadvisory.com

 

Corporate:
Robert Arigo, CEO
Email: rob@luxurbanhotels.com

 

 

Exhibit 99.2

 

LuxUrban Hotels Inc. Signs A Non-Binding Letter of Intent for Proposed Joint Venture
with Lockwood Development Partners LLC and The Bright Hospitality Management to
Elevate Hotel Operations and Guest Experience

 

-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, November 19, 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 Bright Hospitality Management, LLC proposing to establish a joint venture (“JV”) focused on hotel services and operations.

 

The joint venture would initially focus on two LuxUrban properties in New York City, with the parties to consider expansion of the relationship to include additional LuxUrban hotels based on success of the initiative. The collaboration would leverage Lockwood’s established presence in hotel development and Bright’s innovative hospitality technology to create a unique guest experience and optimize operational efficiencies.

 

Key Highlights of the Joint Venture:

 

Initial Capital Investment: Lockwood would initially invest approximately $7 million to address obligations and enhance facilities in the initial two JV hotels, with potential additional investments reaching up to $35 million if all existing LuxUrban hotels are later added to the JV structure.

 

Property Enhancements: The JV will focus on rejuvenating the initial two JV properties, incorporating advanced technologies and amenities designed to improve operational performance and guest satisfaction.

 

Technology-Driven Guest Experience: The JV would leverage Bright’s platform, which features AI-driven management tools, to enhance guest satisfaction and streamline hotel operations.

 

Brand Integration: The JV would introduce Lockwood’s Vitality brand to the New York City market, enhancing customer engagement through a loyalty program and cohesive branding strategy.

 

Scalable Growth: The Non-Binding Letter of Intent contemplates that the definitive agreements will outline a pathway for expanding the JV to include additional LuxUrban properties, contingent upon achieving initial success and obtaining necessary consents and approvals, including the approval of the stockholders and noteholders of LuxUrban and the landlords for any additional properties.

 

Robert Arigo, CEO of LuxUrban Hotels, expressed, “We are excited about the opportunity to partner with Lockwood and Bright in this innovative joint venture. This collaboration would represent a significant step forward in enhancing our operational model and offering our guests a premier hospitality experience. By integrating our resources and leveraging new technologies, we would aim to set a new standard for quality service in the industry. Aligning with experienced partners, the JV would open up the potential to expand our footprint and bring value to additional properties, creating a strong foundation for future growth as we continue our Lux 2.0 efforts.”

 

 

The initial pilot JV will require approval of the landlords for the two hotels, approval of certain of LuxUrban’s debt holders (which has been obtained), and the negotiation and execution by the parties of definitive agreements governing the JV. While the companies will work closely together to secure all consents and approvals and finalize the definitive agreements, there can be no certainty that these will be obtained and executed. There are numerous risks and factors that could result in the terms of the JV being modified or not being consummated or commercially launched at all. The Company will disclose final terms of the definitive agreements if and when same are executed.

 

Charles Everhardt, President of Lockwood Development Partners, added, “Lockwood is dedicated to expanding its hotel portfolio in partnership with Rob Arigo and LuxUrban Hotels. Our mission centers on leveraging cutting-edge hospitality technology while operating at the highest levels of efficiency. We deeply respect our union hotel employees and are committed to treating them with the highest regard. With New York City’s hotel market on the upswing, we’re thrilled to play a part in delivering a top-notch experience that NYC truly deserves.”

 

LuxUrban Hotels Inc. continues to seek strategic opportunities that align with its mission of excellence in hospitality and innovative asset management, and looks forward to sharing further updates as the partnership progresses.

 

LuxUrban Hotels Inc.

 

LuxUrban Hotels Inc. secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) and rents out, on a short-term basis, hotel rooms to business and vacation travelers. The Company is strategically building a portfolio of hotel properties in destination cities by capitalizing on the dislocation in commercial real estate markets and the large amount of debt maturity obligations on those assets coming due with a lack of available options for owners of those assets. LuxUrban’s MLA allows owners to hold onto their assets and retain their equity value while LuxUrban operates and owns the cash flows of the operating business for the life of the MLA.

 

Lockwood Development Partners

 

Lockwood Development Partners brings decades of expertise in real estate, development, and finance, with a history of successfully transforming distressed assets and pursuing large-scale developments. Its portfolio includes a range of hospitality properties and strategic ventures, including partnerships with major brands and cutting-edge technological innovations in the hotel industry.

 

The Bright Hospitality Management

 

Bright Hospitality Management delivers enterprise solutions to leading hotels worldwide, leveraging innovative technology and best-in-class services to optimize revenue, enhance profitability, and elevate the guest experience. With decades of industry expertise, Bright Hospitality offers customized solutions tailored to the unique challenges of each property and employs intelligent systems to streamline operations, reduce costs, and improve guest satisfaction.

 

 

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 the Company’s ability to successfully finalize definitive documentation relating to the JV, ability to timely obtain all necessary consents to the JV, its ability to successfully launch the JV, the economic benefits to the Company with respect to the JV, both in its pilot form and any expanded form, its ability to improve its working capital and cash flow profiles, enhance its balance sheet and deliver organic revenue growth, 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 the JV will be consummated as currently planned or at all or that other 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 Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on April 15, 2024, and any updates to those factors as set forth in subsequent Quarterly Reports on Form 10-Q or other public filings with the SEC, the base prospectus comprising part of the Registration Statement and when filed, the prospectus supplement filed with respect thereto. 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.

 

For more information, contact:

 

Investor Relations:
Jeff Ramson, PCG Advisory
Email: Jramson@pcgadvisory.com

 

Corporate:
Robert Arigo, CEO
Email: rob@luxurbanhotels.com

 

v3.24.3

Cover	Nov. 19, 2024
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 19, 2024
Entity File Number	001-41473
Entity Registrant Name	LuxUrban Hotels Inc.
Entity Central Index Key	0001893311
Entity Tax Identification Number	82-3334945
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2125 Biscayne Blvd
Entity Address, Address Line Two	Suite 253
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33137
City Area Code	(877)
Local Phone Number	269-5952
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Common Stock 0. 00001 Par Value Per Share [Member]
Title of 12(b) Security	Common Stock, $0.00001 par value per share
Trading Symbol	LUXH
Security Exchange Name	NASDAQ
Series A Cumulative Redeemable Preferred [Member]
Title of 12(b) Security	13.00% Series A Cumulative Redeemable Preferred Stock, $0.00001 par value per share
Trading Symbol	LUXHP
Security Exchange Name	NASDAQ

---