Morgans Agrees to Buy 90% of Light Group for About $46.5 Million

Morgans Hotel Group Co. said it will acquire control of Light Group, an operator of restaurants and nightclub bars, for about $46.5 million to enhance its hotel-management business.

Morgans, which operates the Royalton and Mondrian hotels, will buy a 90 percent stake in Light Group. The company runs such venues as the Bank Nightclub at the Bellagio Hotel and the Diablos Mexican Cantina at the Monte Carlo Hotel, both in Las Vegas, for MGM Resorts International, Morgans said in a statement today.