Morgans Hotel Group Co. (MHGC) on Friday reported a loss of $12.8 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 49 cents.
The hospitality company posted revenue of $53.3 million in the period.
Morgans shares have decreased 17 percent since the beginning of the year. In the final minutes of trading on Friday, shares hit $6.47, a decline of 15 percent in the last 12 months.