Billionaire activist investor, Ron Burkle, has increased his holding in boutique hotel operator, Morgans Hotel Group, Reuters reports. Burkle upped his stake to 29.2% from a 9.9% stake that he reported in July last year. The move comes after the cancellation of a restriction under Nevada gaming law on the exercise of warrants following the company’s exit from its Hard Rock Hotel and Casino investment. Morgans recently hired an executive at Burkle’s investment firm as its new CEO and also appointed Burkle to its board.
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