Mergers and Acquisitions

Eater NY brings word that Morgans Hotel Group has acquired the Light Group to consult and run the food and beverage program across all Morgans hotel properties (in LA Morgans has the Mondrian/ Asia de Cuba). The deal gives the Light Group's partners a chance to cash out big time, and according to Morgans CEO Michael Gross, it "fulfills our strategic goal of having industry-leading F&B capabilities in-house." Light Group founder Andrew Sasson is also fired up by the deal, saying, "we are looking forward to creating and assisting with food and beverage concepts within Morgans Hotel Group properties." Eater NY has the full scoop. [-ENY-]