Morgans Hotel Group Co. – $MHGC – Confident Investor Rating: Poor

Company name Morgans Hotel Group Co.
Stock ticker MHGC
Live stock price [stckqut]MHGC[/stckqut]
Confident Investor Rating Poor

The following company description is from Google Finance:

Morgans Hotel Group Co., is a fully integrated hospitality company that operates, owns, acquires, develops and redevelops boutique hotels primarily in gateway cities and select resort markets in the United States, Europe and in select international locations, and nightclubs, restaurants, bars and other food and beverage venues in many of the hotels it operates as well as in hotels and casinos operated by MGM Resorts International (MGM) in Las Vegas. At December 31, 2011, the Company operated a portfolio of twelve boutique hotels in New York, Miami, Los Angeles, San Francisco, Boston, and London. In addition, the Company managed a non-Morgans Hotel Group branded hotel in Playa del Carmen, Mexico. In November 2011, it sold the Sanderson and St Martins Lane hotels to Capital Hill Hotels Limited. On November 30. 2011, it purchased a 90% interest in The Light Group.
Confident Investor comments: At this price and at this time, I do not think that a Confident Investor can confidently invest in this stock. It is not possible to confidently invest in a company that is not currently profitable.

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