LuxUrban Hotels moves to OTC market to reduce costs and focus on acquiring assets.

From GlobeNewswire: 2025-01-16 14:06:43

LuxUrban Hotels Inc. has transitioned from Nasdaq to the OTC market to reduce costs and focus on acquiring hotel assets. The move to OTC has led to significant cost savings, allowing LuxUrban to streamline operations and enhance guest experiences. By acquiring hotel assets, the company aims to boost profitability and strengthen market presence. LuxUrban achieved positive operational cash flow in December 2024 and is on track to reach full profitability in 2025. The strategic realignment sets the company up for potential uplisting to a major exchange in the future. LuxUrban is positioning itself for future growth and success.



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