Morgans Hotel Group (MHGC) Posts Q4 Loss of 31c/Share
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Morgans Hotel Group Reports Fourth Quarter And Full Year 2014 Results
March 13, 2015 7:30 AM EDTNEW YORK, March 13, 2015 /PRNewswire/ -- Morgans Hotel Group Co. (NASDAQ: MHGC) (the "Company") today reported financial results for the quarter and year ended December 31, 2014.Â
Fourth Quarter Highlights
Adjusted EBITDA, defined below, was $17.7 million in the fourth quarter of 2014, an increase of $0.2 million, or 1%, from the same period in 2013. Excluding The Light Group ("TLG"), the controlling interests of which the Company sold in January 2015, as discussed below, Adjusted EBITDA was $16.2 million for the fourth quarter of 2014, an increase of $0.1 million, or 0.7%, from the same period in 2013.... More