Morgans Investor Rambleside to Offer $507 Million for Hotels

Updated on
  • Plans to bid for Hudson in Manhattan and Delano South Beach
  • Criticizes hotel company's `snail's pace' of strategic process

Real estate investment firm Rambleside Holdings is offering to buy two Morgans Hotel Group Co. lodging properties for about $507 million in cash to speed up efforts to maximize shareholder value.

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