– USA, FL – LuxUrban Hotels Inc. (Nasdaq: LUXH), a hospitality company announced the appointment of current Board member Elan Blutinger as Non-Executive Chairman of the Board of Directors, effective April 22, 2024, succeeding Brian Ferdinand, the founder, former CEO, and largest shareholder, who will remain on the Board.
Shanoop Kothari, the co-CEO, becomes the sole CEO
About Elan Blutinger
Elan Blutinger who joined the board in February 2024 as part of an overall strategy to strengthen industry representation across the enterprise, is Managing Director of Alpine Consolidated, LLC, a merchant bank he co-founded in 1996 and through which he has founded, built, and led initial public offerings for multiple public technology and travel companies in the United States and United Kingdom. He has been both a founder and board member at a variety of companies, including Great Wolf Resorts, a family entertainment resorts company, which was acquired by Apollo Global Management in 2012; ResortQuest International, a provider of full-service vacation rentals in the US, which was acquired by Wyndham Hotels & Resorts in 2010; Hotels.com, which was sold to IAC/InteractiveCorp. in 2003; and Travel Services International, which was sold to Airtours PLC in 2000.
About 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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