Financial problems continue to plague the Hard Rock Hotel in Las Vegas, its management company announced Wednesday.
"Unless the market improves markedly, or the joint venture generates additional liquidity, there is a risk to (our) equity position and management agreement, which may be terminated by the lenders in the event of foreclosure," Morgan Hotels Group Co., manager of the Hard Rock and a minority investor, said in its third-quarter earnings report.
"Unless the market improves markedly, or the joint venture generates additional liquidity, there is a risk to (our) equity position and management agreement, which may be terminated by the lenders in the event of foreclosure," Morgan Hotels Group Co., manager of the Hard Rock and a minority investor, said in its third-quarter earnings report.
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