Morgans Names Board Member As CEO
From Reuters:
Marriott Execs Tapped to Lead Operations, Development
Morgans Hotel Group will name board member Michael Gross, an executive of major shareholder Yucaipa, as its new CEO and appoint Marriott International executives to run operations and development, said a person with firsthand knowledge of the plan. Morgans, the original boutique hotel company and owner of such celebrity haunts as the Delano South Beach, has been under pressure from activist investors. But the appointments signal it might try to grow as an independent company rather than sell itself, said Jefferies analyst David Katz. Click here for the full story.
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