LuxUrban Hotels Inc. Reports Second Quarter 2024 Financial Results
LuxUrban Hotels Inc. (LUXH)
Company Research
Source: GlobeNewswire
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 properties, and other increased operational costs. We have streamlined our hotel portfolio to exclude underperforming properties and now manage 9 hotels with a total of 1,056 rooms.Total Operating Expenses: $4.2 million, compared to $5.4 million in Q2 2023, reflecting efforts to realign cost struc
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LUXH
Earnings
- 5/13/24 - Miss
LUXH
Sec Filings
- 11/4/24 - Form 8-K
- 11/1/24 - Form 8-K
- 10/31/24 - Form SCHEDULE
- LUXH's page on the SEC website