• Morgans Q3 EBITDA up 15.3%

Morgans Hotel Group reported adjusted EBITDA for the third quarter of $11.4m, up 15.3% on the year.

Revpar increased by 10.0%, with ADR up 5.8%, with the group reporting a net loss of $37.1m in the period, against a loss of $27.8m in the third quarter of 2009. The news came as Morgans warned that there was a risk of foreclosure at the Hard Rock hotel-casino in Las Vegas, which the group manages and has a 12.8% stake in.

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