Real Estate/Development
Feb. 23, 2012
The Mondrian Los Angeles
National boutique hotel operator Morgans Hotel Group sold the Mondrian Los Angeles to an affiliate of Pebblebrook Hotel Trust for $137 million.
Terming the deal an example of its "asset light" strategy, Morgans will continue to operate the hotel on West Hollywood's Sunset Strip under a 20-year management agreement with one 10-year option.
Morgans operates a string of other hotels, including the Hudson and Royalton hotels in New York, Clift...
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