LuxUrban Hotels provided the following update. In early June 2024, LuxUrban changed its “go to market revenue management strategies” which is producing favorable results. The points presented reflect these favorable results on a same store sales basis. 2024 Q3 RevPAR Projections showing 3% year over year growth based on an 11% ADR lift; 2024 Q4 RevPAR Projections showing 15% year over year growth based on a 17% ADR lift. Rob Arigo, CEO of LuxUrban, stated, “The new revenue management team is just scratching the surface of the potential growth for our hotels.”
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