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Morgans Hotel Group Co. announced a long-term management agreement for the San Juan Water and Beach Club Hotel, a 78-key beachfront hotel in Isla Verde, Puerto Rico. The owners intend to obtain development rights to build a Morgans branded hotel including a 30,000-square-foot casino. The ownership group includes Hotel Development Corp., a subsidiary of the Puerto Rico Tourism Company. Morgans will assume management of the property as of Oct. 18, 2009. San Juan Water and Beach Club Hotel will remain open and operating as an independent hotel until it ultimately becomes a Morgans Hotel Group branded property. Morgans has a 10-year management agreement. For more information, visit www.morganshotelgroup.com.
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