LuxUrban Hotels For Q1 2024 Expects Net Rental Revenue Of $27M-$30M Vs. $41.97M Consensus

Author: Benzinga Newsdesk | April 15, 2024 07:14am

2024 Outlook and Guidance

For the first quarter ended March 31, 2024:

• net rental revenue is expected to be in the range of $27 - $30 million, up from net rental revenue of $22.8 million in last year's first quarter.

For full year 2024, the Company reiterated its commitment to the following priorities:

• increase its portfolio of hotels under long term Master Lease Agreement with a focus on higher-quality 3.5 star to 4.5-star properties
• generate increased TRevPAR compared to 2023, driven by portfolio expansion, the addition of 3.5 star to 4.5-star properties to the portfolio, and an increase in ancillary revenues
• generate increased EBITDA compared to 2023
• improve its working capital profile, receivables, and cash flow profile by adopting a slower pace of acquisitions, increasing Total RevPAR, focusing on higher end properties, and realizing the benefits of the above referenced surrender of certain underperforming leases

The Company expects to increase net rental revenue in 2024 and will provide more specific guidance over the coming quarters.

Posted In: LUXH