Saturday, August 7, 2010

Morgans Hotel Group Reports Second Quarter 2010 Results

Adjusted EBITDAfor the second quarter was $14.0 million, a $2.3 million or 19.7% increase from the second quarter of 2009. On a comparable basis, Adjusted EBITDA increased by 25%.
Revenue per available room ("RevPAR") for System-Wide Comparable Hotels increased by 13.3%, or 14.0% in constant dollars, in the second quarter of 2010 from the comparable period in 2009 led by a 23.1% increase at MHG's New York hotels.

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