On May 6, 2024, LuxUrban Hotels Inc. terminated its franchise agreements with Wyndham Hotels & Resorts covering each of the Company?s properties included in that relationship. The Company is currently in the process of de-platforming its properties from Wyndham?s systems and moving each of its hotel listings back under full Company control. The Company expects that this process will be completed by the end of May 2024 with minimal operational disruption, although unforeseen risks could cause delays.

As part of the Company?s previously announced initiatives to add industry depth and breadth to its Board of Directors and management, the Company reviewed all existing operational relationships and concluded that over the long term it would be better served operationally and financially by returning to its origins as an independent operator.