09:35 AM EDT, 04/22/2024 (MT Newswires) -- LuxUrban Hotels ( LUXH ) said Monday that Elan Blutinger has been named nonexecutive chairman of the board, effective immediately.

Blutinger, who joined the company's board in February, succeeds Brian Ferdinand, the company's founder, former chief executive and biggest shareholder, LuxUrban said.

Separately, LuxUrban said that Andrew Schwartz has been named to the board. Previously, Schwartz was a managing director of Silver Point Capital, the company said.

LuxUrban shares were more than 13% higher in recent trading