MIAMI–June 6, 2024–LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced the appointment of Michael James as Chief Financial Officer, effective June 4, 2024. Mr. James succeeds Shanoop Kothari, the Company’s current Chief Executive Officer and former Acting Chief Financial Officer.
Mr. James brings more than four decades of experience as a financial and operating executive, board member, and investor to his new role. He has advised and led financial strategy and operations for companies across industries and at various stages of growth. Mr. James joined LuxUrban in February 2024 as Senior Vice President and Controller.
“We are excited to welcome Mike as our new CFO and are confident that he is the right person to advance the development of a stable and sustainable financial foundation to support our long-term strategies,” said Elan Blutinger, Chairman of the Board. “Mike brings a wealth of relevant experience to his new role, and his appointment reflects the ongoing commitment of the Board of Directors to add executive depth and breadth across the enterprise. We expect that Mike’s familiarity with our operations while serving as Senior Vice President and Controller will contribute to a seamless transition of responsibilities.”
“I am honored and excited to assume the role of CFO at this pivotal time in LuxUrban’s history,” said Mr. James. “I look forward to working closely with the executive team and board to help accelerate financial and operational improvements and support the delivery of an exceptional guest experience.”
About Michael James
Prior to joining the Company in February 2024, Mr. James was a co-founder and director of and served as Chief Financial Officer for Edible Garden AG, a controlled environmental agriculture company. Since 2007 he has served as chairman, audit committee chair, and as a member of the compensation committee for Guided Therapeutics, Inc., a medical technology company. Mr. James has served as Chief Financial Officer of Blum Holdings (formerly Terra Tech), Chief Executive Officer and Chief Financial Officer of nutritional supplements company Inergetics, Inc., and Chief Executive Officer and board member of software developer Nestor Inc.
Mr. James’ experience at private investment firms includes Managing Partner of Kuekenhof Capital Management, LLC, Partner at Moore Capital Management, Inc., and Chief Financial and Administrative Officer at Buffalo Partners, L.P. He also served as Treasurer and Chief Financial Officer of National Discount Brokers. Mr. James began his career as a staff accountant with EisnerAmper, LLP. He is a retired CPA.
