LuxUrban Hotels reports Q2 EPS (41c), one estimate (10c)

Reports Q2 revenue $18.2M, two estimates $26.4M. Rob Arigo, Lux Urban Hotels CEO, commented: “In 2024, we launched a comprehensive initiative to enhance our company’s management and operations, which we refer to as LuxUrban 2.0. Our strategy was focused on the strategic elimination of non-performing hotel properties, and targeted efforts to reduce operating overhead. As part of our recent Lux 2.0 transition, we strengthened our management and operations teams through recruiting talented directors and officers with significant experience in the hospitality and financial sectors. While significant work remains as we navigate the end of 2023, and legacy operations will continue to present exposure and challenges, we are implementing transformative changes within LuxUrban that will enhance our financial stability and provide a solid foundation for future growth.”