Wyndham and LuxUrban Ink Deal to Expand Trademark Collection Portfolio in the U.S.

Wyndham's Trademark Collection has recently welcomed 16 LuxUrban hotels located in New York, Washington D.C., Miami, New Orleans, and Los Angeles. The collaboration opens doors for more hotels to join in the future.

LuxUrban will keep overseeing hotels as they become a part of the top-ranked hotel rewards program in the industry and utilize Wyndham's excellent sales, marketing, technology, and distribution platform.

Wyndham Hotels & Resorts, the biggest hotel franchise company globally with around 9,100 hotels in over 95 countries, and LuxUrban Hotels, Inc. (NASDAQ: LUXH), a prominent hotel operator with nearly twenty assets in important urban markets throughout the United States, have recently agreed to partner. This collaboration will result in 16 LuxUrban hotels, which have approximately 1,400 rooms, being incorporated into the prestigious Trademark Collection® by Wyndham brand later in the year.

Spread throughout New York, Los Angeles, Miami, Washington, and New Orleans, the hotels will retain their LuxUrban identity while also being recognized under the Trademark brand. As part of the deal, Wyndham will offer financial, sales, and operational assistance to aid LuxUrban's strategy of acquiring assets with minimal capital investment. Additionally, this agreement allows other LuxUrban hotels, including those not yet purchased, to join the Trademark family in the future.

"We designed Trademark Collection by Wyndham with LuxUrban and similar operators in mind," explained Chip Ohlsson, Wyndham Hotels & Resorts' Chief Development Officer. "Numerous hotels, especially those located in urban areas, possess a distinctive allure and individuality that hotel owners value. However, they also desire the benefits of a reputable brand including exposure, widespread availability, and support. Trademark seamlessly bridges this divide by allowing hotel owners to preserve their autonomy while accessing the vast resources of the largest hotel franchisor globally."

Ohlsson mentioned, "Within a short span of time, LuxUrban has established a strong presence in the urban hotel industry in the United States, demonstrating the effectiveness of its distinctive, low-investment operating approach. We are delighted to welcome their hotels to Wyndham's rapidly expanding portfolio of brands, and we are particularly enthusiastic about the future growth prospects for both LuxUrban and Trademark."

Trademark Collection by Wyndham is designed for hoteliers operating three and four-star establishments who wish to access the extensive resources and support of Wyndham without compromising their hotels' unique charm. Presently, the brand comprises over 185 hotels in approximately 25 nations, covering renowned cities such as Atlanta, San Francisco, Las Vegas, Montreal, Berlin, Zurich, Athens, Istanbul, and numerous others.

LuxUrban is a company that was established in 2017. They use a strategy that doesn't require a lot of assets. Instead, they secure long-term leases for hotels in important locations within city centers. This approach allows LuxUrban to take advantage of the increasing demand for short-term accommodations in popular cities. At the same time, it helps owners of struggling urban properties. These owners may be dealing with the lasting effects of the global pandemic, as well as other challenges like higher interest rates, lower property values, and stricter loan requirements. By obtaining the rights to operate these hotels through long-term Master Lease Agreements, LuxUrban assists property owners in maintaining ownership of their assets while maximizing the hotels' commercial potential.

According to Brian Ferdinand, LuxUrban Hotels' chairman and CEO, the partnership with Wyndham is a major advancement for their company. Ferdinand considers this collaboration as proof that their operating model, execution capabilities, and potential for growth are recognized and supported. Ferdinand also expresses gratitude for Wyndham's collaborative approach, thorough research process, and confidence in LuxUrban's team and prospects. With Wyndham's backing, LuxUrban believes they are now better positioned than ever before to accelerate growth, improve cash flow, and take advantage of economies of scale.

Wyndham Hotels & Resorts has a strong focus on meeting the needs of its franchisees to ensure their long-term success. As the biggest hotel franchisor globally, with more hotels than any other major hotel company, Wyndham uses its size to offer top-notch services and support in areas like marketing, distribution, sales, sourcing, and technology. With its Wyndham Rewards program, which was recently recognized as the number one hotel rewards program by U.S News & World Report, hotels in the Wyndham portfolio benefit from access to a rapidly growing pool of over 100 million members. These members currently make up almost half of all U.S. check-ins.

According to Ferdinand, "We are very excited about our partnership with Wyndham, and we strongly believe that the financial, reputation, and operational benefits that come with this association will make LuxUrban an even more appealing option for property owners who want to leverage our profitable lease alternatives. This is especially advantageous for those seeking additional funding opportunities while still retaining ownership of their property."

If you want to know more about Trademark Collection by Wyndham, you can visit their website at www.trademarkhotels.com. And if you're interested in becoming a franchisee, you can find information about franchising opportunities on www.wyndhamdevelopment.com.

Investors are advised that LuxUrban will be talking about its collaboration with Wyndham in its financial results conference call on August 9, 2023, at 10:00 am Eastern Time. More information can be found here or by visiting the website https://investor.luxurbanhotels.com.

About LuxUrban Hotels Inc. LuxUrban Hotels Inc. operates using a business model that doesn't require a lot of assets. Instead, the company leases entire hotels for a long period and rents out the rooms to both business and vacation travelers. They do this through their online platform and other websites and agencies. Right now, LuxUrban Hotels Inc. manages hotel rooms in New York, Washington D.C., Miami Beach, New Orleans, and Los Angeles. As of March 31, 2023, there are 1,034 hotel rooms available for rent. The company plans to grow quickly by acquiring more properties that have been affected by the pandemic and economic conditions. These properties may be unused or not utilized efficiently. The company began moving away from its original business of leasing and re-leasing residential units in late 2021. They have almost completed this transition and are now focused on leasing hotels.

Information about Trademark Collection by Wyndham Trademark Collection by Wyndham includes a range of hotels that are upscale and above located in various parts of the world, such as Europe, Asia, The Americas, and the Caribbean. These hotels are known for their unique qualities, charm, and individuality. One notable hotel in the collection is The Galt House Hotel in Louisville, Ky. The Trademark Collection was launched in 2017 and is specifically designed for hotel owners who value the independent spirit of their establishments. It caters to everyday travelers who are looking for distinctive and affordable accommodations in popular destinations. To learn more, please visit the website www.trademarkhotels.com.

Wyndham Hotels & Resorts is a huge company that owns and franchises hotels all around the world. They have around 9,100 hotels in over 95 countries on all six continents. They focus on providing comfortable and affordable rooms for everyday travelers and have a strong presence in the economy and midscale segments of the hotel industry. Wyndham operates 24 different hotel brands, including Super 8, Days Inn, Ramada, Microtel, La Quinta, Baymont, Wingate, AmericInn, Hawthorn Suites, Trademark Collection, and Wyndham. They also have a loyalty program called Wyndham Rewards, which has over 103 million members. Members can earn points that can be used at thousands of hotels, vacation club resorts, and vacation rentals all over the world. For more information, you can visit their website at www.wyndhamhotels.com.

This press release contains statements about the future that are based on the Company's current views and expectations. These statements include information about the Company's plans for growth, development, technology offerings, and programs. The Company believes that these statements are accurate at the time they are made, but there are risks and uncertainties that could cause the actual results to be different from what is expected. It is important to not rely too heavily on these statements, as they may change in the future.

There are several factors that could cause the actual results to be different from what is stated in the forward-looking statements. These factors include general economic conditions, such as inflation, higher interest rates, and the potential for a recession. The effects of the coronavirus pandemic, including its scope, duration, resurgence, and impact on the company's business operations, financial results, and liquidity are also a concern. Other factors include the performance of the financial and credit markets, the economic environment for the hospitality industry, and operating risks associated with the hotel franchising business. The company's ability to meet its financial obligations and agreements, obtain financing, and make future share repurchases and dividends are also potential risks. It is important to note that these forward-looking statements are subject to change, and the company will provide updates as required by law.

Get in touch with Rob Myers, the Vice President of External Communications at Wyndham Hotels & Resorts, through the email address [email protected].

Shanoop Kothari, the head honcho of LuxUrban Hotels Inc., holds the positions of President and Chief Financial Officer. If you have any queries or need assistance with anything related to LuxUrban Hotels, feel free to shoot me an email at [email protected].

Devin Sullivan, Director of Operations at The Equity Group Inc. (Investor Relations for LuxUrban Hotels), can be reached at [email protected].

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Wyndham Hotels & Resorts and LuxUrban Hotels, Inc. announced a successful partnership.