Rambleside Willing to Pay $507 million in Cash to Acquire Hudson Hotel & Delano Hotel from Morgans

September 14, 2015

NEW YORK, Sept. 14, 2015-- Today, Rambleside Holdings, an investment firm specializing in real estate assets and securities, released a letter sent to the Board of Directors of Morgans Hotel Group Co., expressing serious concern with the "strategic process" and its own plan to maximize value for all shareholders. The full text of the letter can be found below: September 14, 2015 Members of the Board of Directors Morgans Hotel Group Co. 237 Madison Avenue New York, NY 10016 Attn: Mr. Howard M. Lorber, Chairman of the Board Dear Members of the Board: Rambleside Holdings, and its affiliated entities ("Rambleside"), are currently among the ...