Morgans Hotel Group (MHGC) Reports Q2 Loss of $0.31
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Morgans Hotel Group Reports Second Quarter 2015 Results
August 5, 2015 7:30 AM EDTNEW YORK, Aug. 5, 2015 /PRNewswire/ --Â Morgans Hotel Group Co. (NASDAQ: MHGC) (the "Company") today reported financial results for the quarter ended June 30, 2015.Â
Second Quarter Highlights
Adjusted EBITDA was $12.6 million in the second quarter of 2015 as compared to $16.8 million for the same period in 2014. Excluding The Light Group ("TLG"), which was sold in January 2015, Adjusted EBITDA was $12.5 million for the second quarter of 2015, a decrease of $1.9 million, or 13.0%, from the same period in 2014. Revenue per available room ("RevPAR") for System-Wide... More