Morgans Hotel Group (MHGC) Reports Q2 Loss of $0.30
- Consumer staples stocks help Wall St. pare some losses
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Verizon Communications (VZ) May Acquire Big Cable Company - NYP (CHTR) (CMCSA)
- Citron Research Negative on Lannett (LCI); Sees Shares at 'Zero' Over Long Term
- Einhorn's Greenlight Mentions Caterpillar (CAT) Short in Q4 Letter; Doesn't See Disney (DIS) Buying Netflix (NFLX)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- IHS Markit (INFO) Tops Q4 EPS by 2c; Guides In-Line
- Corporate Office Properties Trust (OFC) Offers FY17 Guidance
Create E-mail Alert Related CategoriesEarnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!