Morgans Hotel Group (NASDAQ: $MHG) was a global, publicly traded hospitality company founded by Ian Schrager and specialized in the boutique hotel category.[1][2][3] Its foundations were laid in 1984 with the opening of the namesake Morgans Hotel in New York City. MHG was listed on the NASDAQ exchange for over a decade.
History
1984-2006: Ian Schrager's Morgans Hotel Group
In 1984, Studio 54 co-founders and business partners Ian Schrager and Steve Rubell opened their first hotel, Morgans Hotel, named after J. P. Morgan's Morgan Library & Museum next-door. Designed by Andrée Putman, the instant hit introduced the boutique hotel category, becoming a "worldwide phenomenon."