LuxUrban Hotels (LUXH) has issued an announcement.
Robert Arigo has been appointed the new CEO of our company, succeeding Shanoop Kothari, effective June 10, 2024. With over 35 years of experience in the hotel and hospitality industry, Arigo’s extensive background includes leadership roles in prominent hotel management firms. As part of his compensation, he will receive an annual salary of $450,000, potential bonuses, and restricted stock grants. The company has also issued restricted shares to certain officers in lieu of cash compensation, including a significant grant to Elan Blutinger, the Nonexecutive Chairman, as part of a strategic initiative to manage capital resources effectively.
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