– USA, FL – LuxUrban Hotels Inc. (Nasdaq: LUXH), a hospitality company that leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, announced the appointment of Alex Lombardo to its Board as an independent Director, effective June 4, 2024.
About Alexander Lombardo
Alex Lombardo has more than 20 years of experience in the areas of corporate finance and accounting, project finance, development, construction, and management for both private and public companies. He will serve on LuxUrban’s Audit and Finance, Risk and Investment Committees, as well as the Company’s recently formed Special Committee to explore potential strategic initiatives focused on maximizing shareholder value.
Mr. Lombardo is currently VP of Finance at Seaboard Hospitality, where he oversees the financial, accounting, risk management, and debt management areas for this developer, owner, and operator of premier coastal hotels and cottages spanning the Atlantic Coast. Before joining Seaboard Hospitality, he served as CFO for: Alpine Acquisition Corporation, where he oversaw the early stages of financing and development for a family-focused hotel concept; LTD Hospitality Group, which owns and operates a portfolio of more than 20 hotels and restaurants; and Two Bit Circus, an experiential entertainment technology company. Mr. Lombardo spent 13 years at Great Wolf Resorts, a family entertainment resorts company that was acquired by Centerbridge Partners LP in 2015. During his tenure at Great Wolf Resorts, he served as SVP of Development, where he oversaw all aspects of the company’s branded developments from initial market identification to property openings, and SVP of Finance and Treasurer, managing transactions that included the company’s IPO in 2004 and high yield corporate bond offering in 2010. Mr. Lombardo also served as VP of Finance for Interstate Hotels and Resorts, Inc.
Mr. Lombardo is an Advisor to merchant bank Alpine Consolidated and SaaS service provider Blockpass UK LTD. He received a BBA in International Business from James Madison University.
LuxUrban Hotels Inc.
LuxUrban Hotels Inc. secures long-term operating rights for entire hotels through Master Lease Agreements (MLA) and rents out, on a short-term basis, hotel rooms to business and vacation travelers. The Company is strategically building a portfolio of hotel properties in destination cities by capitalizing on the dislocation in commercial real estate markets and the large amount of debt maturity obligations on those assets coming due to a lack of available options for owners of those assets. LuxUrban’s MLA allows owners to hold onto their assets and retain their equity value while LuxUrban operates and owns the cash flows of the operating business for the life of the MLA.
For more information: https://luxurbanhotels.com/
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