Morgans Hotel Group (MHGC) Reports Q2 Loss of $0.30
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Morgans Hotel Group Reports Second Quarter 2016 Results
August 8, 2016 8:15 AM EDTNEW YORK, Aug. 08, 2016 (GLOBE NEWSWIRE) --
Morgans Hotel Group Co. (NASDAQ: MHGC) (the Company or Morgans) today reported financial results for the quarter ended June 30, 2016.
Second Quarter 2016 Operating Results
Adjusted EBITDA, defined below was $11.2 million in the second quarter of 2016, compared to $12.7 million for the same period in 2015, a decrease of 11.4%. Â
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... More
