Morgans Hotel Group (MHGC) Posts Q4 EPS of $1.25

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Go back to Morgans Hotel Group (MHGC) Posts Q4 EPS of $1.25

Morgans Hotel Group Reports Fourth Quarter and Full Year 2015 Results

March 10, 2016 4:16 PM EST

NEW YORK, March 10, 2016 (GLOBE NEWSWIRE) -- Morgans Hotel Group Co. (NASDAQ: MHGC) (the Company or Morgans) today reported financial results for the quarter and year ended December 31, 2015.

Fourth Quarter 2015 Highlights

Adjusted EBITDA, excluding the Companys ownership interests in The Light Group (TLG) and Mondrian SoHo, was $14.7 million in the fourth quarter of 2015 as compared to $15.3 million for the same period in 2014, a decrease of 4.3%.   Revenue per available room (RevPAR) for System-Wide Comparable Hotels decreased 5.4% during the fourth quarter of 2015 as compared to the fourth quarter of 2014. ... More