Morgans Hotel Group (MHGC) Reports Q2 Loss of $0.30
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Morgans Hotel Group (NASDAQ: MHGC) reported Q2 EPS of ($0.30), versus ($0.31) reported last year. Revenue for the quarter came in at $52.86 million, versus $56.21 million reported last year.
Revenue per available room (“RevPAR”) at System-Wide Comparable Hotels decreased by 1.5% in constant dollars (2.8% in actual dollars) in the second quarter of 2016 as compared to the same period in 2015, due to a decrease of 2.4% in constant dollars (3.8% in actual dollars) in average daily rate (“ADR”) offset by an increase in occupancy of 1.0%. System-Wide Comparable Hotels rooms revenues plus resort and facility fees, which are not included in RevPAR, decreased by 1.0% in constant dollars (2.3% in actual dollars) quarter over quarter.
For earnings history and earnings-related data on Morgans Hotel Group (MHGC) click here.
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