MIAMI–LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), 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 the Blakely Hotel in New York City has been re-branded as “The Blakely by LuxUrban, Trademark Collection® by Wyndham.” The Blakely is the first LuxUrban property to integrate under the Wyndham Hotels & Resorts (“Wyndham”) brand family and join the world’s largest hotel franchisor.
As previously announced, LuxUrban entered into an agreement with Wyndham under which 16 of its hotels will be added to the Trademark Collection® by Wyndham brand. LuxUrban expects to open at least 60% of its current hotels under the Trademark Collection banner during the third quarter of 2023, with the balance of its properties scheduled to be integrated by the end of the 2023 fourth quarter.
The Blakely by LuxUrban, Trademark Collection® by Wyndham is a 117-room, English-style boutique hotel located just north of Times Square providing easy access to popular New York City attractions such as Central Park, Carnegie Hall, Radio City Music Hall, and the Museum of Modern Art.
“We are thrilled to announce the addition of the Blakely under the Wyndham brand family,” said Brian Ferdinand, Chairman and CEO of LuxUrban Hotels. “This property is now operating on the Wyndham platform that provides best-in-class services and support across marketing, distribution, sales, sourcing and technology.”
Mr. Ferdinand noted that the Blakely is also now part of Wyndham Rewards®, recently named the number one hotel rewards program by editors of U.S News & World Report. Hotels within the Wyndham portfolio benefit from access to a rapidly growing membership base of more than 100 million enrolled members, who today account for nearly one out of every two U.S. check-ins. This access drives potential guests to LuxUrban properties and results in significantly lower commission rates than LuxUrban had paid historically.
LuxUrban has also received capital from Wyndham via key money that the Company will deploy at the Blakely to help elevate the customer experience, enhance the asset value, and drive RevPAR as well growth and working capital back into the business.
