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LuxUrban Signs Master Lease Agreements for Two Times Square Hotels
Miami-based LuxUrban Hotels Inc. has signed separate 35-year master lease agreements to operate two new properties in Times Square. The 79-key Hotel at Times Square and the 213-key Hotel 46 Times Squarwill operate under the company’s LuxUrban brand.
LuxUrban said the Hotel 46 Times Square is expected to begin welcoming guests as a LuxUrban property during the third quarter of 2023 and the Hotel at Times Square is expected to begin welcoming guests in Q4.
“With the addition of these two new properties, the number of units in our asset light portfolio of hotel rooms approximates 2,100 and properties under MLA has increased to 22,” said Brian Ferdinand, chairman and CEO of LuxUrban Hotels. “We are excited to add further density in our primary market of New York City to accommodate anticipated rising levels of business and leisure travel.”
- ◦Lease