SBE Entertainment Concludes Morgans Hotel Acquisition

(Wall Street Journal)

SBE Entertainment Group completed its acquisition of Morgans Hotel Group Co. on Wednesday, bringing together two boutique hotel operators in a deal with an enterprise value of $805 million.  The combined company will operate 22 hotels with nearly 7,000 rooms and five brands, including Morgans’ Delano and Mondrian brands, according to SBE.  [Full Article]