Hamamoto lifts stake in Morgans Hotel Group to 10.5%

By Susanna Moon

Chicago, March 12 - Morgans Hotel Group Co. investor David T. Hamamoto bought 288,924 of the company's shares, according to a schedule 13D/A filed with the Securities and Exchange Commission.

The investor bought 6,000 shares at $3.46 on Nov. 13 and 282,924 shares at $2.44 on March 5.

Hamamoto now beneficially owns 3,083,839 shares, or 10.5%, of the New York-based hospitality company.

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