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Last $4.39 USD
Change Today +0.01 / 0.23%
Volume 12.7K
MHGC On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GM
As of 10:46 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

morgans hotel group co (MHGC) Snapshot

Open
$4.45
Previous Close
$4.38
Day High
$4.45
Day Low
$4.30
52 Week High
09/11/14 - $8.49
52 Week Low
08/24/15 - $3.98
Market Cap
152.0M
Average Volume 10 Days
157.7K
EPS TTM
$-1.50
Shares Outstanding
34.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for MORGANS HOTEL GROUP CO (MHGC)

morgans hotel group co (MHGC) Related Businessweek News

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morgans hotel group co (MHGC) Details

Morgans Hotel Group Co., an integrated lifestyle hospitality company, acquires, owns, operates, develops, and redevelops boutique hotels. It operates primarily in gateway cities and select resort markets in the United States, Europe, and internationally. The company was incorporated in 2005 and is headquartered in New York, New York.

2,600 Employees
Last Reported Date: 03/13/15
Founded in 2005

morgans hotel group co (MHGC) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: $506.4K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $394.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $240.0K
Compensation as of Fiscal Year 2014.

morgans hotel group co (MHGC) Key Developments

Rambleside Issues Letter To Morgans

Rambleside Holdings LLC urges Morgans Hotel Group Co. (NasdaqGM:MHGC) to pursue diligence regarding the on going talks. Rambleside issued a letter to the Board of Directors of Morgans Hotel Group Co., expressing concern that a potential strategic transaction would substantially undervalue the company. Rambleside letter read, "Recent press reports suggest that the Company is currently in active negotiations regarding a potential strategic transaction with one or several parties. We are deeply concerned that the potential transaction would substantially undervalue the Company and any breakup fee or other limitation on the Company's ability to pursue strategic alternatives will further risk shareholder value. We believe the path to maximize value for all stakeholders involves selling the Company or key assets, separately or as a package, in a widely marketed sale process and/or merging the management company with a world class hotel and brand manager that can leverage its platform to maximize value of the Company's coveted brands. As indicated during a conversation with Mr. Lorber yesterday, Rambleside would like to participate in that process. Specifically, we would be prepared to pursue a transaction that would value the Company at a meaningful premium over the current trading price. We have hired legal advisers and are confident we can secure the necessary financing. We are disappointed that the Company has refused to engage with us on this opportunity."

Sam Nazarian In Talks To Merge His Company With Morgans Hotel Group

Sam Nazarian is in advanced talks to combine SBE Entertainment Group, LLC with Morgans Hotel Group Co. Nazarian, founder and Chief Executive Officer of SBE Entertainment Group, is expected to take over as Chief Executive Officer of the combined company, according to people familiar with the discussions. Ronald Burkle, who is Morgans’ largest creditor and owns preferred equity in that company, will have a board seat with the new firm and is weighing additional investments in the combined company, say people familiar with the talks. A deal could be announced as early as this month, these people said. Financial terms aren’t known. Morgans’ shares trade on the Nasdaq Stock Market and the combined company also will be publicly traded, according to a person briefed on the negotiations.

Morgans Hotel Group Co. Announces Financial Results for the Second Quarter and Six Months Ended June 30, 2015

Morgans Hotel Group Co. announced financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of $56.210 million against $61.289 million a year ago. Operating income was $4.934 million against $1.968 million a year ago. Loss before income tax expense was $6.485 million against $9.390 million a year ago. Net loss attributable to the company was $6.641 million or $0.31 per diluted share against $9.719 million or $0.40 per diluted share a year ago. EBITDA was $10.481 million against $10.280 million a year ago. Adjusted EBITDA was $12.597 million against $16.758 million a year ago. RevPAR for its System-Wide Comparable Hotels for the second quarter decreased by 5.7% from the second quarter of 2014, primarily due to ADR declines. Room revenues plus resort fees, which are not included in RevPAR and were implemented in the second half of 2014, decreased by 2.2% during the quarter. For the six months, the company reported total revenue of $109.516 million against $116.757 million a year ago. Operating income was $5.886 million against operating loss of $7.124 million a year ago. Loss before income tax expense was $19.197 million against $33.169 million a year ago. Net loss attributable to the company was $19.465 million or $0.80 per diluted share against $33.854 million or $1.24 per diluted share a year ago. EBITDA was $15.457 million against $10.732 million a year ago. Adjusted EBITDA was $22.260 million against $26.402 million a year ago.

 

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MHGC Competitors

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Company Last Change
Belmond Ltd $10.91 USD -0.08
Interval Leisure Group Inc $19.44 USD +0.12
Monarch Casino & Resort Inc $17.61 USD +0.33
Red Lion Hotels Corp $7.93 USD +0.0199
Marcus Corp/The $19.11 USD +0.145
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Industry Analysis

MHGC

Industry Average

Valuation MHGC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.7x
Price/Book NM Not Meaningful
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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