LuxUrban Hotels Signs Master Lease Agreement to Operate Luxury Hotel in New York City ...Middle East

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LuxUrban Hotels Signs Master Lease Agreement to Operate Luxury Hotel in New York City
source : hospitality net ( Middle East ) () 57
LuxUrban which utilizes an asset-light business model to lease entire hotels on a long-term basis and rent out hotel rooms in these properties in key major metropolitan cities, announced today that it has signed a 25-year Master Lease Agreement (MLA), inclusive of two five-year options, to operate Hotel 57 in midtown Manhattan ("Hotel 57"). The Company expects to commence operations at Hotel 57 during the current second quarter of 2023. Hotel 57, which will operate under the "LuxUrban Ultra" brand, is a four-star, 204-unit property housed in an historic building on 57th Street in midtown Manhattan. Hotel 57 offers quiet accommodations and upscale amenities in one of the most desirable locati

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