LuxUrban Hotels Sees FY23 Net Rental Revenue $120M-$125M, Up From Prior Range Of $115M-$120M; Sees FY24 Net Rental Revenue $265M-$270M, Up From Prior Range Of $220M-$240M
Portfolio Pulse from Benzinga Newsdesk
LuxUrban Hotels has increased its net rental revenue guidance for FY23 to $120M-$125M, up from the previous range of $115M-$120M. The company also raised its FY24 net rental revenue forecast to $265M-$270M, up from the prior range of $220M-$240M. The number of hotel rooms under long-term Master Lease Agreements is expected to increase significantly by 2024.
November 08, 2023 | 10:53 pm
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LuxUrban Hotels has raised its revenue guidance for FY23 and FY24, indicating a positive outlook for the company's future performance. This could potentially lead to an increase in the company's stock price in the short term.
Companies often see their stock prices increase when they raise their revenue guidance, as this is usually interpreted by the market as a sign of strong future performance. In this case, LuxUrban Hotels has raised its revenue guidance for both FY23 and FY24, which could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100