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by Michael J. Shapiro | May 12, 2010

Morgans Hotel Group, which owns, operates and/or manages more than a dozen luxury boutique hotels in New York City, Miami, Los Angeles, San Francisco, Boston, London, Puerto Rico and Mexico, reported an 11.6 percent year-over-year rise in revenue per available room for the first quarter of 2010. Occupancy was up 12.3 percent, and average daily rate dipped very slightly, by 0.7 percent. The company reported a net loss of $16 million for the quarter.