Morgans Hotel Group refinances the mortgage loan secured by Hudson Morgans Hotel Group announced that it has successfully executed a new $180M non-recourse loan secured by Hudson in New York. The proceeds were used to retire the previous mortgage loan on Hudson of $115M and fund reserves required under the new loan, with the remainder available for general corporate purposes.
Burkle pressured Morgans Hotel CEO to resign, NY Post reports The resignation yesterday of Morgans Hotel Group interim CEO Jason Kalisman was a victory for Ron Burkle's Yucaipa Cos., New York Post reports, citing a source close to the situation. Burkle pressured Kalisman to resign after trying to block his attempts to sell the company's most valuable properties, the Post adds. Reference Link