LuxUrban Hotels Announces December 2024 Monthly Dividend for Preferred Stock

LuxUrban Hotels Inc. recently disclosed the forthcoming payment schedule for its declared regular monthly dividend for December 2024. The dividend of $0.2708333 per share applies to LuxUrban’s 13.00% Series A Cumulative Redeemable Preferred Stock, with a par value of $0.00001. Holders of record as of December 16, 2024, are set to receive this dividend on December 30, 2024, payable in cash.

Accompanying this announcement, LuxUrban Hotels Inc. issued a press release on December 2, 2024, outlining the details of the dividend. The press release, formally attached as Exhibit 99.1 to the current report on Form 8-K filed with the Securities and Exchange Commission, provides comprehensive information relating to the dividend payout.

LuxUrban Hotels Inc., listed on Nasdaq under the ticker symbols LUXH and LUXHP, operates with a strategic approach to secure extended operating rights for entire hotels through Master Lease Agreements (MLA). This business model involves managing the hotel properties and offering short-term room rentals to both business and vacation travelers.

In the press release, LuxUrban notes that its MLA framework enables property owners to retain equity value in their assets while allowing LuxUrban to manage and own the cash flows generated by the hotel operations throughout the MLA’s tenure. By capitalizing on market dynamics in commercial real estate, LuxUrban aims to grow its portfolio of hotel properties in key destination cities.

The company’s disclosure of the dividend payment comes under the purview of item 8.01 of the SEC guidelines, emphasizing other significant events. Additionally, the filing also includes details of the financial statement and relevant exhibits under item 9.01, offering investors and stakeholders essential information about LuxUrban Hotels Inc.’s financial operations and dividends.

The forward-looking statements provided in the press release underpin the company’s strategic aspirations and operational outlook. LuxUrban Hotels Inc. remains committed to disclosure and transparency, aligning with standards and expectations set forth by regulatory bodies.

This news release offers insights into LuxUrban Hotels Inc.’s ongoing operations, financial performance, and commitment to delivering value to its shareholders and investors.

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.

LuxUrban Hotels Company Profile

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.