LuxUrban Hotels Inc., a Miami-based company, has signed two separate 35-year Master Lease Agreements (MLAs) to operate two new properties in Times Square: the 79-key Hotel at Times Square and the 213-key Hotel 46 Times Square. Both hotels will be part of LuxUrban’s portfolio under its LuxUrban brand.
The Hotel 46 is expected to begin welcoming guests during Q3 2023 and the other hotel is slated for Q4 of that year. According to Brian Ferdinand, Chairman & CEO of LuxUrban Hotels, these agreements bring their asset light portfolio up to 2,100 units with 22 properties now under MLA in New York City alone. He expressed excitement about adding density in this primary market as business and leisure travel are anticipated to rise soon.
