(By Balaseshan) Morgans Hotel Group Co. (NASDAQ:MHGC), a fully integrated hospitality company, is expanding its Hudson lifestyle brand with a 20-year management agreement for a 200-room boutique property in London.
Hudson London, which is scheduled to open in early 2015, marks the beginning of an international growth plan to introduce the brand into gateway markets around the globe. Bringing a distinctive new offering to London, Hudson will combine cutting edge style with impeccable service at accessible prices.
The announcement of the second Hudson-branded property from Morgans Hotel coincides with the re-launch and renovation of the original Hudson location in New York City.
Prior to the opening of the London property, Morgans Hotel Group has invested in a $30 million modernization of the original Hudson property in New York, which initially broke boundaries with its refreshing new take on style without pretension.
The updates, which are ongoing, began with a complete 834-room renovation, including new furnishings as well as upgraded technology and state-of-the-art lighting. Hotel corridors are also receiving playful updates to surprise and delight new and returning guests with unexpected touches.
In a collaboration between the Morgans Hotel design team and acclaimed design group, Rottet Studio, the public spaces of Hudson New York will also be transformed, beginning with a new European-style restaurant concept with a bohemian influence and transitional indoor/outdoor space. Hudson New York's updates are slated to be completed Fall 2012.
The iconic Hudson Bar will also be reinvigorated with a nod to 1940's French decor infused with a rock and roll edge, while celebrated original design elements including the Clemente ceiling fresco will be restored. Both Private Park and Library Bar will also see enhancements to create even more comfortable and inviting spaces for guests.
MHGC is trading up 0.22% at $4.50 on Tuesday. The stock has been trading between $3.73 and $7.75 for the past 52 weeks.