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Morgans Hotel Group Announces a New Management Contract for Hotel Las Palapas in Playa del Carmen, Riviera Maya, Mexico

Morgans Hotel Group Co. today announced a management agreement for the Hotel Las Palapas, located in the vibrant Playa del Carmen resort area, which is owned by affiliates of Walton Street Capital (“Walton”). Morgans and Walton are already joint venture partners in the ownership of two other hotels - the Sanderson and St Martins Lane hotels in London.