Morgans Hotel Group (MHGC) Reports Q2 Loss of $0.30

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.

You May Also Be Interested In

• Etsy upgraded to buy at BofA on durable growth, buyback potential
• LSI Industries (LYTS) Tops Q4 EPS by 3c, Beats on Revenue
• Benchmark Reiterates Hold Rating on Codexis, Inc. (CDXS) Amid Transition to New Products/Services