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Morgans Hotel Group Co. Message Board

  • nycarb106 nycarb106 Jan 10, 2012 11:46 AM Flag

    Stock Performance & Mgmt

    While MHGC mgmt has done a commendable job selling assets, entering into lucrative hotel management contracts and terming out the debt, the performance of the stock has been beyond pitiful. Shares are trading below the NAV of its remaining hotel RE and we've seen zero share repurchases. The Board needs to get off their hands and figure out what they're going to do to enhance shareholder value because the transition to asset light is clearly not being appreciated in the public markets. There are plenty of strategic buyers out there that would love to get their hands on MHGC's stable and growing base of management contracts and rip out all the expensive NYC overhead.

2.16-0.03(-1.37%)Jun 24 4:00 PMEDT