
Positions Company to Increase F&B Revenues, Drive ADR Growth and Win New Management Agreements
Morgans Hotel Group Co., announced that it has entered into a definitive agreement to purchase a 90% controlling interest in The Light Group, a leading lifestyle food and beverage company currently operating numerous venues for MGM Resorts International. This acquisition, while being immediately accretive to the Company's earnings, also provides Morgans with a food and beverage platform, a management team, and brand names.Morgans Hotel Group Co., announced that it has entered into a definitive agreement to purchase a 90% controlling interest in The Light Group, a leading lifestyle food and beverage company currently operating numerous venues for MGM Resorts International. This acquisition, while being immediately accretive to the Company's earnings, also provides Morgans with a food and beverage platform, a management team, and brand names.