Summary - Funding Rounds

Founding Date

1984

Morgans Hotel Group Income Statement

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014Y, 2015FY, 2015

Revenue

207.3m189.9m236.5m235.0m220.0m220.0m

Revenue growth, %

(1%)(6%)

Sales and marketing expense

7.6m800.0k800.0k

General and administrative expense

43.6m37.1m42.6m41.7m40.3m

Operating expense total

57.9m48.6m52.5m48.1m46.9m

Depreciation and amortization

22.4m

EBIT

(21.0m)(14.4m)(1.9m)1.5m11.9m11.9m

EBIT margin, %

(10%)(8%)(1%)1%5%5%

Interest expense

35.5m39.0m46.0m54.3m48.1m48.1m

Interest income

48.1m

Investment income

(29.5m)(6.4m)(828.0k)9.0k

Pre tax profit

(55.7m)(43.4m)(48.6m)(28.1m)

Income tax expense

929.0k776.0k716.0k1.5m(50.2m)(50.2m)

Net Income

(85.4m)(55.7m)(44.2m)(50.7m)22.1m22.1m

Morgans Hotel Group Balance Sheet

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Cash

109.6m12.8m7.1m8.2m8.6m6.3m9.8m7.6m129.1m133.0m96.3m38.1m33.0m38.8m11.9m11.2m10.6m

Accounts Receivable

6.8m8.3m11.0m12.3m14.1m9.3m19.0m17.3m19.2m20.2m15.4m10.8m9.5m9.8m7.5m7.3m7.6m

Prepaid Expenses

9.1m7.2m6.9m6.9m7.6m6.1m9.8m9.3m8.1m9.2m8.0m7.5m10.8m7.7m6.5m8.3m6.5m

PP&E

283.5m283.8m296.3m301.4m304.2m227.8m299.4m297.3m288.3m284.4m281.3m273.6m269.9m268.1m261.7m257.9m254.5m

Goodwill

54.1m54.1m69.1m66.6m66.6m43.0m66.6m66.6m66.6m66.6m66.6m54.1m54.1m54.1m53.7m53.7m53.7m

Total Assets

604.4m480.8m544.3m545.9m577.0m583.6m580.7m572.8m695.2m684.8m632.3m532.4m520.6m514.8m518.0m512.3m509.3m

Accounts Payable

26.7m32.4m32.6m33.8m39.1m24.4m37.3m39.1m44.5m44.5m38.6m34.0m31.1m34.4m33.2m34.5m41.5m

Long-term debt

534.9m433.3m448.5m230.8m241.7m240.1m236.1m557.1m707.5m708.3m673.6m605.9m606.1m606.2m574.3m575.5m575.7m

Total Debt

534.9m433.3m448.5m230.8m241.7m240.1m236.1m557.1m707.5m708.3m673.6m605.9m606.1m606.2m574.3m575.5m575.7m

Total Liabilities

655.7m558.0m642.1m655.9m702.2m731.8m744.3m745.7m897.2m896.0m853.5m778.6m772.4m773.8m736.8m737.3m742.5m

Common Stock

363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k363.0k

Preferred Stock

52.5m53.3m55.0m55.9m56.8m58.7m59.8m60.9m63.2m64.4m65.7m67.7m68.7m69.9m72.2m73.5m74.8m

Additional Paid-in Capital

290.5m290.0m283.4m282.7m282.0m264.8m261.4m256.2m245.4m242.5m241.3m240.3m237.8m237.8m236.3m234.6m233.0m

Retained Earnings

(310.8m)(336.4m)(369.4m)(383.7m)(400.3m)(426.0m)(443.0m)(454.4m)(487.3m)(498.3m)(509.8m)(531.4m)(539.0m)(547.7m)(509.9m)(516.9m)(526.6m)

Total Equity

(51.3m)(77.2m)(103.2m)(116.2m)(131.6m)(154.5m)(169.7m)(179.2m)(207.2m)(216.6m)(225.9m)(246.2m)(251.8m)(259.1m)(218.7m)(225.0m)(233.2m)

Debt to Equity Ratio

-3.1 x-3.4 x-3.3 x-3 x-2.5 x-2.4 x-2.3 x

Debt to Assets Ratio

1 x1 x1 x1.1 x1.1 x1.2 x1.2 x

Financial Leverage

-11.8 x-6.2 x-5.3 x-4.7 x-4.4 x-3.8 x-3.4 x-3.2 x-3.4 x-3.2 x-2.8 x-2.2 x-2.1 x-2 x-2.4 x-2.3 x-2.2 x

Morgans Hotel Group Cash Flow

Annual

USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015

Net Income

(85.4m)(55.7m)(44.1m)(50.0m)22.1m

Depreciation and Amortization

22.2m24.0m27.4m28.9m22.4m

Accounts Receivable

840.0k(5.8m)(3.9m)4.6m2.0m

Accounts Payable

3.6m(1.3m)7.8m(6.8m)(581.0k)

Cash From Operating Activities

9.8m(39.5m)(3.1m)(3.9m)5.7m

Purchases of PP&E

(17.8m)(32.6m)(9.5m)(5.3m)(7.1m)

Cash From Investing Activities

264.3m(61.1m)(7.4m)(18.9m)28.5m

Short-term Borrowings

(436.2m)(151.0m)(8.5m)(409.0m)

Long-term Borrowings

(1.5m)

Dividends Paid

827.0k(823.0k)

Cash From Financing Activities

(250.4m)77.6m14.7m26.2m(1.8m)

Net Change in Cash

23.6m(23.0m)4.2m3.5m32.4m

Interest Paid

24.0m29.8m36.6m44.4m40.7m

Income Taxes Paid

779.0k651.0k150.0k1.0m84.0k

Quarterly

USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016

Net Income

(43.5m)(68.3m)(14.3m)(27.7m)(43.4m)(11.4m)(27.4m)(38.1m)(23.9m)(33.4m)(43.5m)(12.8m)(19.5m)(27.0m)(8.9m)(14.7m)(23.1m)

Depreciation and Amortization

12.6m17.4m5.7m11.6m17.4m5.2m13.4m20.5m8.4m15.1m21.9m5.6m11.2m16.8m5.7m11.2m16.9m

Accounts Receivable

1.5m33.0k(175.0k)(1.5m)(3.3m)1.1m(4.3m)(2.8m)(1.2m)(2.2m)2.6m(565.0k)454.0k136.0k799.0k560.0k307.0k

Accounts Payable

(3.3m)2.4m(3.9m)(2.9m)3.2m(3.4m)2.7m4.5m3.6m4.3m(1.5m)(559.0k)(3.2m)86.0k(599.0k)2.0m9.0m

Cash From Operating Activities

(5.1m)11.2m(10.5m)(14.2m)(17.7m)(3.7m)(5.1m)(3.6m)(1.1m)(3.5m)(5.2m)(5.7m)(7.2m)(4.7m)(2.9m)(1.9m)266.0k

Purchases of PP&E

(2.9m)(7.9m)(11.4m)(20.8m)(27.9m)(3.5m)(5.8m)(9.1m)(1.0m)(2.1m)(3.9m)(577.0k)(1.7m)(4.6m)(897.0k)(2.0m)(3.5m)

Cash From Investing Activities

240.6m235.7m(16.1m)(25.6m)(53.3m)(1.3m)(4.4m)(8.1m)(11.2m)(3.4m)(2.2m)30.9m27.7m31.4m(1.1m)(2.5m)(4.8m)

Short-term Borrowings

(193.5m)(426.2m)(9.0k)(17.0k)(47.0k)(2.0m)(5.5m)(7.0m)(305.4m)(305.7m)(341.5m)(366.0k)(732.0k)

Long-term Borrowings

(1.1m)(28.6m)(28.9m)(29.3m)

Cash From Financing Activities

(131.2m)(239.3m)4.9m19.2m50.7m5.4m13.5m13.5m131.4m129.8m93.7m(593.0k)(1.0m)(1.4m)(30.0m)(30.4m)(30.8m)

Net Change in Cash

104.3m7.6m(21.7m)(20.6m)(20.3m)441.0k3.9m1.8m119.1m122.9m86.3m24.6m19.5m25.3m(34.0m)(34.7m)(35.3m)

Interest Paid

12.3m18.6m5.1m12.6m17.4m7.9m18.1m26.3m12.6m24.1m34.8m10.2m20.5m30.9m10.3m20.3m30.4m

Income Taxes Paid

149.0k784.0k637.0k643.0k643.0k150.0k150.0k150.0k532.0k552.0k564.0k1.0k1.0k25.0k477.0k470.0k

Morgans Hotel Group Ratios

USDQ2, 2011

Financial Leverage

-11.8 x

Morgans Hotel Group Employee Rating

3.2104 votes
Culture & Values
3.3
Work/Life Balance
3.1
Senior Management
2.8
Salary & Benefits
3.1
Career Opportunities
2.9
Source