LuxUrban Hotels welcomes Kim Schaefer to its Board of Directors

– USA, FL –  LuxUrban Hotels Inc. (Nasdaq: LUXH), a hospitality company that utilizes an asset-light business model to lease entire hotels on a long-term basis in partnership with Wyndham Hotels & Resorts, announced the appointment of Kim Schaefer to its Board of Directors effective March 25, 2024.

“Kim’s appointment to the board reflects our ongoing commitment to increasing industry representation across the enterprise as we continue to evolve and mature as a company. Kim has spent her career building brands into premier destinations and growing businesses in a creative, structured, and forward-thinking manner. Her nearly 30 years of experience in real estate, hospitality management and finance will be of great benefit to LuxUrban and we welcome her with great enthusiasm,” said Board Chairman, Brian Ferdinand.

About Kimberly K. Schaefer

From 2020-2024, Kim Schaefer was CEO of Two Bit Circus, Inc., an experiential entertainment company, previously serving as President from 2017 to 2019 and as a consultant in 2016. Ms. Schaefer served as CEO and a director of Great Wolf Resorts, Inc., a family entertainment resorts company, from 2009 until its acquisition by Centerbridge Partners LP in 2015. Ms. Schaefer was instrumental in the expansion of Great Wolf Resorts, growing the company from one cabin to 13 mega indoor waterpark resorts. Before being appointed CEO, Ms. Schaefer served as COO/CBO from 2005 to 2009. Ms. Schaefer has served as CEO and a director of Alpine Acquisition Corporation and as an Advisor to merchant bank Alpine Consolidated since 2018.

Kim Schaefer currently serves on the board of Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV), a resort, entertainment, and media company, and United Parks & Resorts Inc. (NYSE: PRKS), a global theme park and entertainment company. She served on the board of directors of Education Realty Trust, one of the nation’s largest developers, owners, and managers of high-quality collegiate housing communities, from 2016 until its acquisition by Greystar Real Estate Partners in 2018.

Ms. Schaefer received a B.A. in Accounting from Edgewood College and is a Certified Public Accountant (inactive).

Kim Schaefer said, “I am honored to join LuxUrban’s board and look forward to applying my history across the hospitality landscape – from start-ups to established brands – as we advance the Company’s innovative business model and elevate the guest experience.”

About LuxUrban Hotels Inc.

LuxUrban Hotels Inc. utilizes an asset-light business model to secure the long-term operating rights for entire hotels through Master Lease Agreements and rents out, on a short-term basis, hotel rooms to business and vacation travelers. The Company is aggressively 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. Through its partnership with Wyndham Hotels & Resorts, the largest hotel company in the world by rooms, LuxUrban gains several competitive advantages including joint branding for marketing, sales, and distribution, capital allocation from Wyndham for each hotel it acquires, and ongoing customer support and training across its portfolio.

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