LuxUrban Hotels Forms Special Committee to Review Strategic Initiatives

June 4, 2024

DENVER, Colo., Jun 04, 2024 (247marketnews.com)- LuxUrban Hotels Inc. (Nasdaq:LUXH) stated that its Board of Directors formed a Special Committee to explore potential strategic initiatives focused on maximizing shareholder value, by evaluating potential strategic transactions, including equity and debt financings, a sale of the Company or some or all of its assets, a merger, strategic acquisitions, or other strategic initiatives and alternatives.

“We believe that we operate one of the most innovative models in the hospitality industry,” commented Elan Blutinger, Chairman of the Board. “Our Board and management team are committed to maximizing shareholder value, and we believe that the commencement of this process to evaluate strategic opportunities fully aligns with that mandate. Leonard has spent the better part of his professional life as counsel and advisor to multiple companies structuring public and private strategic transactions across multiple industries.”

“The Special Committee will conduct this process in a manner that is consistent, thoughtful and in the best interests of our shareholders,” stated Special Committee Chairman, Leonard Toboroff. “This is a unique company in the lodging industry and the creation of this committee will allow us to formalize and centralize any strategic opportunities we consider.”

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