Morgans Hotel Group Co. | 2013 | FY | 3


The currency translation is based on an exchange rate of 1 British pound to 1.61 and 1.55 which is an average monthly exchange rate provided by www.oanda.com for the period from January 1, 2011 through November 23, 2011, which is the period the Company has ownership interest in Morgans Europe.

 

     Jan. 1, 2011 –
Nov. 23, 2011
 

Hotel operating revenues

   $ 45,675   

Hotel operating expenses

     29,515   

Depreciation and amortization

     4,694   
  

 

 

 

Operating income

     11,466   

Interest expense

     17,200   
  

 

 

 

Net loss for period

     (5,734

Other comprehensive loss

     1,488   
  

 

 

 

Comprehensive loss

   $ (4,246
  

 

 

 

Company’s share of net loss

   $ (2,867

Company’s share of other comprehensive income

     3,259   
  

 

 

 

Company’s share of comprehensive income

   $ 392   

Company’s share of realized loss on foreign currency exchange adjustment from sale of assets

     (2,515

Other amortization

     (115
  

 

 

 

Amount recorded in equity in loss

   $ (5,497
  

 

 

 

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