Morgans Hotel Group Reports Q4 EPS of $(0.30) vs. $(0.18)

Morgans Hotel Group Co. MHGC today reported financial results for the quarter ended December 31, 2010. Adjusted EBITDA for the fourth quarter of 2010 was $18.4 million, a $5.3 million or 40.0% increase from the fourth quarter of 2009 driven by improved operating margins due to RevPAR growth and a reduction in hotel operating expenses. Revenues 65.06M EPS $(0.30)