16 LuxUrban motels throughout New York, Washington D.C., Miami, New Orleans and Los Angeles to affix Wyndham’s Trademark Assortment, with the chance for added motels to affix thereafter. LuxUrban will proceed to handle motels as they be part of the business’s #1 lodge rewards program and leverage Wyndham’s best-in-class gross sales, advertising, know-how and distribution platform.
PARSIPPANY, N.J. and MIAMI – Wyndham Motels & Resorts, the world’s largest lodge franchising firm with roughly 9,100 motels throughout greater than 95 international locations, and LuxUrban Motels, Inc. (NASDAQ: LUXH), a number one lodge operator with a rising portfolio of practically two-dozen belongings in key city markets throughout the U.S., right this moment introduced a newly signed deal to deliver 16 LuxUrban motels, representing roughly 1,400 rooms, into the Trademark Assortment® by Wyndham model later this yr.
Positioned throughout New York, Los Angeles, Miami, Washington, and New Orleans, the motels will keep their LuxUrban branding whereas additionally gaining affiliation and recognition by way of the Trademark model title. In change, Wyndham will present monetary, gross sales, and operational associated help to assist advance LuxUrban’s asset-light acquisition-driven progress technique. The settlement additionally paves the best way for added LuxUrban motels—together with any areas not but acquired—to affix Trademark sooner or later.
We created Trademark Assortment by Wyndham particularly to cater to the wants of operators like LuxUrban. So many motels right this moment, notably these in city locations, have a definite character and distinctive allure that hoteliers wish to maintain on to. On the similar time, they need the visibility, distribution and help that comes with being a part of a widely known model. Trademark gracefully bridges that hole, affording hoteliers the chance to keep up their independence whereas unlocking the assets of the world’s largest lodge franchisor. Chip Ohlsson, chief growth officer, Wyndham Motels & Resorts
Ohlsson added, In only a few years, LuxUrban has created a major place within the U.S. city lodge market, proving the success of its distinctive, asset gentle working mannequin. We’re excited to have their motels be part of what continues to be one among Wyndham’s quickest rising manufacturers and much more excited by the long-term progress alternatives that exist for each LuxUrban and for Trademark.
Trademark Assortment by Wyndham is geared towards three- and four-star hoteliers trying to faucet into the size and assets of Wyndham whereas sustaining their motels’ impartial spirit. At this time, the model consists of greater than 185 motels in practically 25 international locations, together with areas in top-tier cities like Atlanta, San Francisco, Las Vegas, Montreal, Berlin, Zurich, Athens and Istanbul, amongst others.
An Asset-Gentle Strategy
Based in 2017, LuxUrban leverages an asset-light technique, securing long-term leases for motels in key city-center locations. The method permits LuxUrban to capitalize on rising client demand for brief keep lodging in vacation spot cities whereas aiding the homeowners of distressed city belongings who, along with scuffling with the lingering results of the worldwide pandemic, may be juggling rising rates of interest, depressed property values and tighter underwriting phrases. By buying the working rights to those motels below long-term Grasp Lease Agreements, LuxUrban helps property homeowners retain possession of their belongings whereas unlocking every lodge’s full business potential.
Our collaboration with Wyndham is an incredible leap ahead for LuxUrban and a validation of our working mannequin, execution talents, and huge alternative panorama. We recognize Wyndham’s collaborative method to the method, the depth and breadth of their due diligence, and their confidence in our workforce and outlook. With the help of a world class hospitality group like Wyndham, in addition to their help with progress and dealing capital within the type of growth advance notes for present and future initiatives, we consider we are actually in one of the best place in our historical past to speed up progress, improve money movement and seize the advantages of scale. Brian Ferdinand, chairman and CEO, LuxUrban Motels
Wyndham Motels & Resorts brings an owner-first mentality to franchising, prioritizing the wants of franchisees to assist guarantee their long-term success. Because the world’s largest lodge franchisor, with extra motels than another main lodge firm, Wyndham leverages its scale to offer best-in-class providers and help throughout advertising, distribution, gross sales, sourcing and know-how. By way of Wyndham Rewards, not too long ago named primary lodge rewards program by editors of U.S Information & World Report, motels inside the Wyndham portfolio profit from entry to a quickly rising membership base of greater than 100 million enrolled members, who right this moment account for practically one out of each two U.S. check-ins.
Added Ferdinand, We’re extremely smitten by our alignment with Wyndham, and consider that the monetary, model and working benefits our relationship gives will make LuxUrban an much more enticing resolution for property homeowners trying to make use of our asset-light, triple web lease options, notably these trying to faucet into new sources of capital whereas sustaining possession of their asset.
For extra details about Trademark Assortment by Wyndham, go to www.trademarkhotels.com. For franchising alternatives, go to www.wyndhamdevelopment.com.
Notice to Traders: LuxUrban will talk about its partnership with Wyndham throughout its monetary outcomes convention name, scheduled for August 9, 2023 at 10:00 am ET. Particulars could also be accessed right here or by visiting https://investor.luxurbanhotels.com.
About LuxUrban Motels Inc.
LuxUrban Motels Inc. makes use of an asset gentle enterprise mannequin to lease whole motels on a long-term foundation and hire out lodge rooms within the properties it leases to enterprise and trip vacationers via the corporate’s on-line portal and third-party gross sales and distribution channels. The corporate at present manages a portfolio of lodge rooms in New York, Washington D.C., Miami Seashore, New Orleans and Los Angeles. As of March 31, 2023, the corporate has 1,034 lodge rooms obtainable for hire and seeks to quickly construct its portfolio on favorable economics via the acquisition of extra lodging that have been dislocated or are underutilized on account of the pandemic and present financial situations. In late 2021, the corporate commenced the method of winding down its legacy enterprise of leasing and re-leasing multifamily residential models, because it pivoted towards its new technique of leasing motels. This transition has been considerably accomplished.
About Wyndham Motels & Resorts
Wyndham Motels & Resorts (NYSE: WH) is the world’s largest lodge franchising firm by the variety of properties, with roughly 9,100 motels throughout over 95 international locations on six continents. By way of its community of roughly 836,000 rooms interesting to the on a regular basis traveler, Wyndham instructions a number one presence within the financial system and midscale segments of the lodging business. The Firm operates a portfolio of 24 lodge manufacturers, together with Tremendous 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Assortment® and Wyndham®. The Firm’s award-winning Wyndham Rewards® loyalty program gives over 97 million enrolled members the chance to redeem factors at hundreds of motels, trip membership resorts and trip leases globally. For extra info, go to www.wyndhamhotels.com.
The Firm might use its web site as a way of revealing materials personal info and for complying with its disclosure obligations below Regulation FD. Disclosures of this nature can be included on the Firm’s web site within the Traders part, which might at present be accessed at www.investor.wyndhamhotels.com. Accordingly, buyers ought to monitor this part of the Firm’s web site along with following the Firm’s press releases, filings submitted with the Securities and Trade Fee and any public convention calls or webcasts.
About Wyndham Rewards
Named the primary lodge rewards program by readers of USA TODAY, Wyndham Rewards® is the world’s most beneficiant rewards program with greater than 50,000 motels, trip membership resorts and trip leases worldwide. Designed for the on a regular basis traveler, members earn a assured 1,000 factors with each certified keep and should redeem factors for a variety of rewards, together with free nights at any of the roughly 9,000 motels or tens of hundreds of trip membership resorts and trip leases globally via affiliation with Wyndham Locations and others. Wyndham Rewards has roughly 95 million enrolled members globally. Be part of free of charge right this moment at www.wyndhamrewards.com. You’ve got earned this. ®
