LuxUrban Hotels Announces November 2024 Dividend for Series A Preferred Stock

LuxUrban Hotels Inc. (NASDAQ:LUXH) disclosed in a recent 8-K form filed with the Securities and Exchange Commission that it has scheduled the payment of its stated regular monthly dividend for November 2024. The dividend of $0.2708333 per share pertains to the company’s 13.00% Series A Cumulative Redeemable Preferred Stock with a par value of $0.00001. Shareholders as of the record date of November 15, 2024, will receive the dividend in cash on November 29, 2024.

Additionally, LuxUrban Hotels issued a press release on November 1, 2024, detailing the dividend announcement. For further information, interested parties can refer to Exhibit 99.1 attached to the Form 8-K filing, which includes the full press release for transparency.

LuxUrban Hotels Inc., operating within the hotel industry, implements a strategy of securing long-term operating rights for entire hotels via Master Lease Agreements (MLA). By leveraging this approach, the company manages the hotel operations and offers short-term room rentals to both business and vacation travelers. Through this innovative model, LuxUrban aims to build a portfolio of hotel properties in sought-after destinations, taking advantage of opportunities in commercial real estate markets and addressing issues related to looming debt maturity obligations.

In compliance with applicable securities laws, LuxUrban emphasized that forward-looking statements in the press release are subject to various risks and uncertainties, with actual results potentially differing from the anticipated outcomes. As stated in the filing, the company commits to updating any pertinent information in alignment with relevant securities laws.

For more details or inquiries, interested parties can reach out to Michael James, Chief Financial Officer at LuxUrban Hotels Inc., via email at [email protected].

This concludes the pertinent information disclosed in LuxUrban Hotels Inc.’s recent 8-K submission to the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read LuxUrban Hotels’s 8K filing here.

About LuxUrban Hotels

LuxUrban Hotels Inc utilizes an asset light business model to lease entire hotels on a long-term basis and rent out hotel rooms in the properties it leases. It manages a portfolio of hotel rooms in New York, Washington DC, Miami Beach, New Orleans, and Los Angeles. The company was formerly known as CorpHousing Group Inc and changed its name to LuxUrban Hotels Inc in November 2022.