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LuxUrban Hotels (CorpHousing Group) Priced, Nasdaq: LUXH

Provides short-term rentals for travelers in major US cities.

Industry: Real Estate

Latest Trade: $0.25 0.00 (0.0%)

First Day Return: -7.5%

Return from IPO: -93.9%

Industry: Real Estate

CorpHousing Group engages in the short-term rental of individual and multi-family units to guests across major metropolitan cities in the US. We leverage technology to cost-effectively identify, acquire, furnish, manage and market these units to business and vacation travelers, while providing our guests "Heroic Service" under our consumer brand, SoBeNY. We are building a growing portfolio of leased properties that we seek to provide to guests for short-term stays at rental and occupancy rates that exceed our total cost and expenses for such properties. Our acquisition initiatives also include leasing portfolios of unreserved rooms at hotels or leasing closed hotels and reopening them under our brands, including SoBeNY. We also are exploring attractive lease acquisition opportunities in circumstances where owners are converting formerly commercial buildings into residential and rental units. As of the date of this prospectus, we operated 619 accommodation units in 25 buildings across seven cities in the United States, with an additional 1,512 units subject to executed leases or letters of intent that are anticipated to be commercially available to our guests by September 30, 2022. Our goal is to be operating between 2,500 and 3,000 units in 12 cities by the end of 2022. We also plan to launch international operations prior to the end of 2022 and are currently evaluating London and Paris for launch of our first commercial international operations.
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IPO Data
IPO File Date 01/12/2022
Offer Price $4.00
Price Range $4.00 - $5.00
Offer Shares (mm) 3.4
Deal Size ($mm) $14
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 08/11/2022
Offer Price $4.00
Price Range $4.00 - $5.00
Offer Shares (mm) 3.4
Deal Size ($mm) $14
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Maxim Group LLC
Joseph Gunnar
Company Data
Headquarters Miami, FL, United States
Founded 2017
Employees 107
Website www.corphousinggroup.com

LuxUrban Hotels (CorpHousing Group) (LUXH) Performance