LuxUrban Hotels Increasing Its EBITDA Forecast For 2023 To $25M-$30M From Its Previous Estimate Of $21M-$25M. The Company Is Also Initiating 2024 Net Rental Revenue And EBITDA Guidance Of $220M-$240M And $48M-$60M, Respectively
Portfolio Pulse from Benzinga Newsdesk
LuxUrban Hotels (NASDAQ:LUXH) has increased its 2023 EBITDA forecast to $25M-$30M from $21M-$25M and initiated 2024 net rental revenue and EBITDA guidance of $220M-$240M and $48M-$60M, respectively. This follows an agreement with pre-IPO investors eliminating $87.5M in revenue share payments in exchange for 6,740,000 shares.
May 22, 2023 | 12:28 pm
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LuxUrban Hotels has increased its 2023 EBITDA forecast and initiated 2024 guidance after an agreement with pre-IPO investors, which may positively impact its stock price.
The agreement with pre-IPO investors eliminates $87.5M in revenue share payments, allowing LuxUrban Hotels to increase its EBITDA forecast for 2023 and initiate guidance for 2024. This positive financial outlook may lead to an increase in the stock price in the short term.
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