• Morgans improves

Hotel group Morgans increased revpar 5.7% in the fourth quarter, declaring 2013 ebitda up at USD16.1m for the quarter. Full year 2013 revpar was up 8.9% driven by a 7.8% increase in occupancy.

The group declared a full year loss of USD44.2m, smaller than the USD56.5m of a year previously. Since the year end, Morgans has refinanced USD280m of loans and credit facilities, and agreed to settle a dispute with shareholder Yucaipa.
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