Morgans Hotel Group, Las Vegas
|NEW YORK - October 5, 2006 - Morgans Hotel Group Co. (NASDAQ: MHGC)
(“MHG”) today announced the appointment of industry veteran Randy Kwasniewski
as President of Morgans Hotel Group, Las Vegas, and President and Chief
Operating Officer of the Hard Rock Hotel & Casino, following MHG’s
completion of the acquisition of the property. In this capacity, Mr. Kwasniewski
will also manage the transition and oversee progress on the MHG’s Echelon
Place development project, which is scheduled for completion in 2010. Mr.
Kwasniewski, who will be based in Las Vegas, brings over 30 years of hotel
experience to MHG, most recently as Senior Vice President of Starwood Capital
“We are delighted to welcome Randy to our team during this exciting time for our company, especially as we develop a significant presence in the vibrant Las Vegas market,” said Ed Scheetz, Chief Executive Officer of Morgans Hotel Group. “With his extensive industry expertise and operational experience, including two years of previous experience at the Hard Rock, Randy is the ideal candidate to oversee our Las Vegas properties. Without question, Randy will be a valuable addition to our team and will be instrumental in the successful launch of the Hard Rock under MHG’s ownership.”
“I have a great admiration for MHG’s unique portfolio of properties and strong brand reputation, and am thrilled to be a part of the company’s expansion into Las Vegas. In particular, I look forward to rejoining my friends and colleagues at the Hard Rock; I have the utmost respect for their talents and know that, under MHG’s leadership, the Hard Rock will soon become a flagship Las Vegas property,” said Mr. Kwasniewski.
Before joining Starwood Capital Group, Mr. Kwasniewski was the Vice President of Operations for the Hard Rock Hotel & Casino in Las Vegas with responsibility for all hotel, food and beverage, retail, and employee operations. Previously, Mr. Kwasniewski served as Executive Vice President of Operations for Starwood Hotels & Resorts Worldwide where his responsibilities included the daily operations of 220 owned and managed Westin, Sheraton, Four Points, W, St. Regis & Luxury Collection properties in North America. Prior to that, Mr. Kwasniewski held positions at Starwood Lodging Corporation, as well as Sheraton Hotels, where he held the position of Executive Vice President of Hotel Operations. Mr. Kwasniewski began his hotel career with Hyatt resorts in 1974 and later worked for Doubletree Hotels and Wyndham Hotels.
In January 2006, MHG announced a joint-venture partnership with Boyd Gaming Corporation for the Echelon Place development project. As part of the agreement, MHG will develop two signature hotels bearing MHG’s Delano and Mondrian brands. In May 2006, MHG announced its acquisition of the Hard Rock Hotel & Casino, its third planned offering in the Las Vegas market. The acquisition of the Hard Rock Hotel & Casino is expected to close in the first quarter of 2007.
About Morgans Hotel Group
Statements contained in this press release which are not historical facts are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995.
|Also See:||Morgans Hotel Group Co. to Acquire Hard Rock Hotel & Casino in Las Vegas and Related Assets for $770 Million / May 2006|
|Morgans Hotel Group Plans to Team with a Licensed Gaming Company to Operate Hard Rock's Casino; Expects to Bring the Margins at the Hard Rock up to Morgans Standards / May 2006|