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Morgans Hotel Group In Las Vegas
Morgans Hotel Group in Las Vegas is in rough waters when it comes to Las Vegas housing.
In February Morgans Hotel Group went public with $20 a share, now with the recent events that have been taking place with the Las Vegas market the company has seen a drop in their stocks to $14.50.
Many blame the recent purchase of the Hard Rock Hotel in Las Vegas by Morgans Hotel Group. The purchase of that particular project brought on questions from investors and lots of debt.
According to the company they have taking a loss of $30 million in the last year. They have made no predictions for what this year holds for them, but analysts are saying they expect a profit of 16 cents a share in the near future.
