Morgans Hotel Group Sells Royalton and Morgans for $140 Million

by Benzinga Staff
May 23, 2011 4:40 PM | 16 seconds read |
Morgans Hotel Group Co. MHGC today announced that it has completed the sale of Royalton and Morgans for $140 million, or approximately $500,000 per room, to an affiliate of FelCor Lodging Trust, Incorporated. Morgans will continue to operate the hotels under 15-year management agreements with one 10-year extension option.
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