LuxUrban Hotels has signed a 25-year Master Lease Agreement, including two five-year options, to operate Hotel 57 in midtown Manhattan. The hotel, operating under the “LuxUrban Ultra” brand, is a four-star, 204-unit property on 57th Street.
“This latest property will be among the finest in our portfolio,” said Brian Ferdinand, chairman and CEO of LuxUrban Hotels. “Hotel 57 will join our previously announced planned opening of the Condor Hotel in Brooklyn on or about July 1 and result in LuxUrban operating eight hotels in New York City. This growth is coming at an opportune time, as business and leisure travel in New York City is on the rise and approaching pre-pandemic levels of tourism.” With this addition, LuxUrban will operate eight hotels in New York City.
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