LuxUrban Hotels Opens The Tuscany in New York City and Townhouse Hotel in Miami

The Townhouse Hotel in Miami Beach - Exterior
The Townhouse Hotel in Miami Beach

LuxUrban Hotels Inc. Reiterates 2022 Full Year Net Rental Revenue and EBITDA Guidance

LuxUrban Hotels Inc. (Nasdaq: LUXH) announced today that it is reiterating full year 2022 net rental revenue and EBITDA guidance of $42-$46 million and $7-$9 million, respectively. The Company also announced that it expects to commence operations at The Tuscany in New York City and the Townhouse Hotel in Miami Beach the week of January 23, 2023. Each of these properties will be powered by the Company’s consumer facing LuxUrbanT brand.

Inclusive of The Tuscany and Townhouse Hotel, LuxUrban operates 15 short-term stay hotels, under long-term Master Lease Agreements (“MLA”), located in Miami, New York City, Washington, D.C., and New Orleans.

The Tuscany’s 124 rooms offer spacious accommodations and generous amenities, including hardwood entryways in all rooms, corner studios with an abundance of natural light, and multiple suites with signature views of the Chrysler Building and Empire State Building. Located just steps from the beach, the Townhouse Hotel is a 70-unit hotel located in Miami’s South Beach. The property offers freshly remodeled Standard, Superior and Penthouse accommodations reflecting a chic combination of European style and Miami Beach flair, and a warm and hospitable staff.

“We are proud of our accomplishments in 2022 and excited about the opportunities that we are pursuing in 2023,” said Brian Ferdinand, Chairman and CEO. “We are committed to delivering long-term shareholder value by executing our proven and scalable growth strategy. To that end, we are continuing to manage a robust pipeline of hotel properties in current markets and new destination cities and expect to announce the addition of at least 4-6 properties to our portfolio during Q1 2023.”

LuxUrban Hotels Inc. utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties in major metropolitan cities.