Brief: Luxurban Hotels Acquires Future Revenue Share Payment Obligations From Its Pre-IPO Investors

Luxurban Hotels

22/05/2023 13:38

May 22 (Reuters) - Luxurban Hotels Inc  LUXH.O :
    * LUXURBAN HOTELS ACQUIRES FUTURE REVENUE
SHARE PAYMENT OBLIGATIONS FROM ITS PRE-IPO INVESTORS
    * LUXURBAN HOTELS INC- AGREEMENT EXPECTED TO SIGNIFICANTLY
IMPROVE
CASH POSITION, ACCESS TO GROWTH CAPITAL, INCREASE MARGINS, AND
FUTURE CASH FLOWS
    * LUXURBAN HOTELS INC- INCREASES 2023 EBITDA GUIDANCE AND
INITIATES 2024 NET RENTAL REVENUE AND EBITDA GUIDANCE
    * LUXURBAN HOTELS- ON MAY 21 ENTERED DEAL TO ELIMINATE ABOUT
$87.5MLN IN REVENUE SHARE PAYMENTS IN EXCHANGE FOR ONE-TIME
ISSUANCE OF 6.74 MILLION SHARES
    * LUXURBAN HOTELS INC- INITIATING 2024 NET RENTAL REVENUE
AND
EBITDA GUIDANCE OF $220 TO $240 MILLION AND $48 TO $60 MILLION,
RESPECTIVELY
    * LUXURBAN HOTELS INC- INCREASING ITS EBITDA FORECAST FOR
2023 TO
$25 TO $30 MILLION

Source text for Eikon:  ID:nBw5vXTc5a 
Further company coverage:  LUXH.O 

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