• Morgans Ebitda up 10%

Morgans Hotel Group has reported adjusted Ebitda up 10% on the year to USD8.2m in the first quarter.

The company saw revpar up 2.5% and announced that, on 1 May, it had implemented a restructuring at its owned, joint venture and managed hotels from which it expected to see annualised savings of approximately USD9.0m.

Read the full story here: http://investor.morganshotelgroup.com/phoenix.zhtml?c=194863&p=irol-news&nyo=0

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