LuxUrban Hotels Inc. Announces Preferred U.S. Hotel Partnership Agreement with NusaTrip
February 16 2023 - 8:00AM
Business Wire
LuxUrban Hotels Inc. (Nasdaq: LUXH) (or “the Company”),
which utilizes a long-term lease, asset-light business model to
acquire and manage a growing portfolio of short-term rental
properties in major metropolitan cities, announced today that it
has signed an agreement with NusaTrip, Indonesia’s first
IATA-certified online travel agency (OTA), under which LuxUrban
Hotels will become the preferred hotel partner for NusaTrip users
traveling to the United States from Southeast Asia. The preferred
partnership, which is expected to go live by the end of the 2023
first quarter, will include preferential ad placement for LuxUrban
properties, reduced commissions, and bundled hotel/air travel
offers with more than a dozen airlines, including China Airlines,
Korean Air, Philippines Airlines, and British Airways.
“Southeast Asia has more than 660 million people, making it the
world’s third-largest collective consumer base,” said Brian
Ferdinand, Chairman and CEO of LuxUrban Hotels. “With health
restrictions eased and demand for travel on the rise, we believe
that this partnership with NusaTrip will allow us to tap a growing
demographic of international traveler with the potential to
generate higher RevPAR due to increased demand. We look forward to
welcoming these guests to LuxUrban’s growing portfolio of hotels
located in destination cities across the United States.”
Established in 2013 as the first Indonesian OTA accredited by
the International Air Transport Association (IATA), NusaTrip
pioneered offering a comprehensive range of airlines and hotels to
Indonesian corporate and retail customers. With its first mover
advantage, NusaTrip has onboarded +1.2 million registered users,
+500 airlines and +200,000 hotels around the world as well as
connected with over 80 million unique visitors. NusaTrip serves
both local and global customers and partners by optimizing
cutting-edge technology and providing 24/7 customer-centric support
team-as-a-service. For more information, please visit:
https://www.nusatrip.com.
“As our business continues to evolve and mature, we see a
significant opportunity to pursue additional such relationships
that elevate our brand, broaden our access to international guests,
and drive growth,” Mr. Ferdinand concluded.
LuxUrban Hotels Inc.
LuxUrban Hotels Inc. utilizes a long-term lease, asset-light
business model to acquire and manage a growing portfolio of
short-term rental properties in major metropolitan cities. The
Company’s future growth focuses primarily on seeking to create
“win-win” opportunities for owners of dislocated hotels, including
those impacted by COVID-19 travel restrictions, while providing
LuxUrban Hotels favorable operating margins. LuxUrban Hotels
operates these properties in a cost-effective manner by leveraging
technology to identify, acquire, manage, and market them globally
to business and vacation travelers through dozens of third-party
sales and distribution channels, and the Company’s own online
portal. Guests at the LuxUrban Hotels properties are provided high
quality service under the Company’s consumer brand, LuxUrbanTM.
Forward Looking Statements
This press release contains forward-looking statements,
including with respect to the anticipated success of the
partnership with NusaTrip, increased travel demand to the United
States, higher potential RevPAR, and the Company’s ability to
commercialize efficiently and profitably the properties it leases
and will lease in the future. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions,
including those set forth under the caption “Risk Factors” in the
prospectus forming part of the Company’s effective Registration
Statement on Form S-1 (File No. 333-267821). Generally, such
forward-looking information or forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"will continue", "will occur" or "will be achieved".
Forward-looking information may relate to anticipated events or
results including, but not limited to business strategy, leasing
terms, high-level occupancy rates, and sales and growth plans. The
financial projections provided herein are based on certain
assumptions and existing and anticipated market, travel and public
health conditions, all of which may change. The forward-looking
information and forward-looking statements contained in this press
release are made as of the date of this press release, and the
Company does not undertake to update any forward-looking
information and/or forward-looking statements that are contained or
referenced herein, except in accordance with applicable securities
laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230215005966/en/
LuxUrban Hotels Inc. Shanoop Kothari Chief Financial Officer
shanoop@luxurbanhotels.com
The Equity Group Inc. Devin Sullivan Managing Director (212)
836-9608 dsullivan@equityny.com
David Shayne, Analyst (212) 836-9628 dshayne@equityny.com
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