Struggling hotel chain overstays welcome at Hotel 57 [Yahoo! Finance]
LuxUrban Hotels Inc. (LUXH)
Company Research
Source: Yahoo! Finance
The beleaguered Miami-based hotel chain began subletting the 17-floor property at 130 East 57th Street from Apple Eight Hospitality Ownership in May of last year. Apple Eight sued this week in New York, alleging that LuxUrban defaulted on its rent obligations soon after the 15-year lease agreement went into effect. LuxUrban, which specializes in leasing hotel properties in New York, Miami, Los Angeles and New Orleans, is facing multiple lawsuits as losses mount for its investors. LuxUrban has had a terrible year. In January, Bleecker Street Capital released a scathing analysis of the company's financial reporting and numerous lawsuits. In February, New York City fined the hotel company $1.2 million for operating 70 illegal short-term rentals, according to the West Side Spirit, leading LuxUrban Hotels founder Brian Ferdinand to step down from his co-CEO role. Its stock price on the Nasdaq has dropped by 96 percent this year. Lux Holdings LLC recently announced the formation of a
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LUXH
News
- LuxUrban Hotels Issues Letter to Shareholders from Chief Executive Officer Robert Arigo [Yahoo! Finance]Yahoo! Finance
- LuxUrban Hotels Issues Letter to Shareholders from Chief Executive Officer Robert ArigoGlobeNewswire
- LuxUrban Hotels Names Robert Arigo Chief Executive Officer [Yahoo! Finance]Yahoo! Finance
- LuxUrban Hotels Names Robert Arigo Chief Executive OfficerBusiness Wire
- LuxUrban Hotels Appoints Hotel Finance Executive Alexander Lombardo to Board of Directors [Yahoo! Finance]Yahoo! Finance
LUXH
Earnings
- 5/13/24 - Miss
LUXH
Sec Filings
- 6/20/24 - Form 8-K
- 6/17/24 - Form 8-K
- 6/17/24 - Form 4
- LUXH's page on the SEC website