LuxUrban Hotels signs non-binding LOI with Lockwood, Bright Hospital

LuxUrban Hotels (LUXH) announced the signing of a Non-Binding Letter of Intent, LOI, with Lockwood Development Partners LLC and The Bright Hospitality Management proposing to establish a joint venture, JV, focused on hotel services and operations. The joint venture would initially focus on two LuxUrban properties in New York City, with the parties to consider expansion of the relationship to include additional LuxUrban hotels based on the success of the initiative. The collaboration would leverage Lockwood’s established presence in hotel development and Bright’s innovative hospitality technology to create a unique guest experience and optimize operational efficiencies.