$LuxUrban Hotels (LUXH.US)$ NEWS LuxUrban Hotels Inc. report...
NEWS
LuxUrban Hotels Inc. reported a significant increase in net rental revenue by 159% to $113.4 million for FY 2023. The company's EBITDA rose by 78% to $25.3 million, with adjusted EBITDA increasing by 109% to $29.8 million. Despite a net loss of $78.5 million, which included non-cash charges and non-recurring costs, LuxUrban Hotels Inc. remains optimistic about its future growth and strategic expansion plans.
Net rental revenue surged by 159% to $113.4 million in FY 2023.
EBITDA increased by 78% to $25.3 million, while adjusted EBITDA rose by 109% to $29.8 million.
The company reported a net loss of $78.5 million, which included non-cash charges and non-recurring cash costs.
LuxUrban Hotels Inc. aims for measured expansion in 2024 by focusing on acquiring higher-end hotel properties and improving its financial profile.
The company has a strong pipeline of hotel operating rights acquisition opportunities and a refreshed executive team to drive growth.
Total debt declined to approximately $4.3 million from $14.0 million, showing improved financial management.
LuxUrban Hotels Inc. expects to increase net rental revenue in 2024 and provide more specific guidance in the coming quarters.
The company will host an investor call on April 16, 2024, to discuss the financial results and future outlook.
EBITDA increased by 78% to $25.3 million, while adjusted EBITDA rose by 109% to $29.8 million.
The company reported a net loss of $78.5 million, which included non-cash charges and non-recurring cash costs.
LuxUrban Hotels Inc. aims for measured expansion in 2024 by focusing on acquiring higher-end hotel properties and improving its financial profile.
The company has a strong pipeline of hotel operating rights acquisition opportunities and a refreshed executive team to drive growth.
Total debt declined to approximately $4.3 million from $14.0 million, showing improved financial management.
LuxUrban Hotels Inc. expects to increase net rental revenue in 2024 and provide more specific guidance in the coming quarters.
The company will host an investor call on April 16, 2024, to discuss the financial results and future outlook.
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