Morgans Hotel Group to Acquire Leading Lifestyle Food and Beverage Company - The Light Group

Morgans Hotel Group Co.

, today 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 ("MGM").  This acquisition, while being immediately accretive to the Company's earnings, also provides Morgans with a first class food and beverage platform, a creative and experienced management team, and renowned brand names.