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Morgans Hotel Group announces Q2 2014 results


Morgans Hotel Group announces Q2 2014 results
August 8, 2014
NEW YORK, NY – Morgans Hotel Group Co today reported financial results for the quarter ended June 30, 2014.
Second Quarter 2014 Operating Results
Second Quarter 2014 Operating Results
Adjusted EBITDA for the second quarter of 2014 was $14.8 million, a 17.7% increase over the same period in 2013. Excluding a termination fee related to Ames in Boston of $0.9 million, which was recorded in the second quarter of 2013, Adjusted EBITDA increased 26.7% in the second quarter of 2014 over the same period in 2013. The Company’s Owned Hotels generated strong operating results during the second quarter of 2014 as compared to the same period in 2013, led by 36.8% increase in EBITDA at Delano South Beach. ....

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Delano Las Vegas debuts on The Strip


LAS VEGAS, NV – The highly anticipated luxury, all-suite Delano Las Vegas debuted today bringing a touch of South Beach to The Strip.
LAS VEGAS, NV – The highly anticipated luxury, all-suite Delano Las Vegas debuted today bringing a touch of South Beach to The Strip. This morning, executives and employees of MGM Resorts International and Morgans Hotel Group gathered to officially unveil Las Vegas’ newest hotel.
“Delano Las Vegas marks a new chapter in the Las Vegas hotel experience, ushering in elevated levels of personalized service, style and attention to detail,” said General Manager Matthew Chilton. “We’re challenging the quintessential over-the-top Vegas experience by introducing a new brand focused on understated luxury, appealing to in-the-know travelers,” added Chilton. ....

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