NEW YORK, Oct. 21, 2008 - Morgans Hotel Group Co. (Nasdaq: MHGC) ("MHG")
today named John "JP" Oliver as Regional Vice President of Miami and General
Manager of Delano in South Beach, effective October 20, 2008.
Oliver joins MHG from LXR Hotels & Resorts (formerly Wyndham International)
where he spent more than fifteen years in various management positions.
Most recently, Oliver served as Vice President and Managing Director of
Puerto Rico, where he was responsible for operations at the El San Juan
Hotel & Casino, El Conquistador Resort & Casino, and Condado Plaza
Hotel & Casino. Prior to that, he was Area Vice President of the Caribbean
Region for LXR.
"We are pleased to welcome JP to the Morgans team," said David Weidlich,
Executive Vice President of Operations for MHG. "With over 20 years of
hotel experience, we believe that JP's extensive management expertise and
proven leadership will be integral to the continued success of our Miami
properties and to the highly anticipated launch of Mondrian in Miami."
Before joining LXR, Oliver worked with Hyatt Hotels and Resorts in several
management positions at the Hyatt Regency Beaver Creek, the Grand Hyatt
Wailea and Hyatt Grand Champions from 1988 through 1993. Oliver began his
career at the historic Mayflower Hotel in Washington, D.C.
About Morgans Hotel Group
Morgans Hotel Group Co. (Nasdaq: MHGC) operates and owns, or has an
ownership interest in, Morgans, Royalton and Hudson in New York, Delano
and The Shore Club in Miami, Mondrian in Los Angeles and Scottsdale, Clift
in San Francisco, and Sanderson and St Martins Lane in London. MHG and
an equity partner also own the Hard Rock Hotel & Casino in Las Vegas
and related assets. MHG has other property transactions in various stages
of completion, including projects in Miami Beach, Florida; Chicago, Illinois;
SoHo, New York; Las Vegas, Nevada; Palm Springs, California; Boston, Massachusetts;
and Dubai, UAE. For more information please visit http://www.morganshotelgroup.com.
Forward-Looking and Cautionary Statements
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. These forward-looking
statements can be identified by the use of words such as "expects," "plans,"
"estimates," "projects," "intends," "believes," "guidance," and similar
expressions that do not relate to historical matters. These forward-looking
statements are subject to risks and uncertainties which can cause actual
results to differ materially from those currently anticipated, due to a
number of factors which include, but are not limited to, downturns in economic
and market conditions, particularly levels of spending in the business,
travel and leisure industries; hostilities, including future terrorist
attacks, or fear of hostilities that affect travel; risks related to natural
disasters, such as earthquakes and hurricanes; risks associated with the
acquisition, development and integration of properties; the seasonal nature
of the hospitality business; changes in the tastes of our customers; increases
in real property tax rates; increases in interest rates and operating costs;
the impact of any material litigation; the loss of key members of our senior
management; general volatility of the capital markets and our ability to
access the capital markets; and changes in the competitive environment
in our industry and the markets where we invest, and other risk factors
discussed in MHG's Annual Report on Form 10-K for the fiscal year ended
December 31, 2007, and other documents filed by MHG with the Securities
and Exchange Commission from time to time. All forward-looking statements
in this press release are made as of the date hereof, based upon information
known to management as of the date hereof, and MHG assumes no obligations
to update or revise any of its forward-looking statements even if experience
or future changes show that indicated results or events will not be realized.