secwatch.observer — SEC 8-K summary
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Issuer:     LUXURBAN HOTELS INC. (—)
CIK:        0001893311
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001829126-24-003301
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LuxUrban Q1 net loss widens to $16.8M; revenue up 27.6% to $29.1M; exits Wyndham franchise
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- Net rental revenue rose 27.6% YoY to $29.1M, driven by more rooms (1,535 vs 571) but lower TRevPAR.
- Net loss was $16.8M vs $2.8M loss in Q1 2023; adjusted EBITDA fell to $2.5M from $4.0M.
- Gross loss of $4.6M vs prior-year gross profit of $5.4M, reflecting $12.1M increase in other expenses.
- Cash and equivalents $1.0M at March 31, 2024; company terminated Wyndham franchise agreements on May 6, 2024.
- Priorities for 2024 include improving working capital, balance sheet, and organic revenue growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1893311/000182912624003301/0001829126-24-003301-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1893311/000182912624003301/luxurban_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-003301

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