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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): December 4, 2008</B>

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<P align="center" style="font-size: 24pt"><B>Morgans Hotel Group Co.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-33738</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>16-1736884</B></TD>
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    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>475 Tenth Avenue<BR>New York, NY<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>10018</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(212) 277-4100</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not applicable<BR></B></TD>
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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

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<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;8.01. Other Events.</B>


<P align="left" style="font-size: 10pt"><I>Morgans Hotel Group&#146;s Percentage Interest in Hard Rock Is Reduced</I>


<P align="left" style="font-size: 10pt">On December&nbsp;10, 2008, Hard Rock Hotel Holdings, LLC &nbsp;(the &#147;Joint Venture&#148;), a joint venture of which Morgans Hotel
Group Co. (the &#147;Company&#148;) is a member, announced that on December&nbsp;4, 2008, the Chairman of the Nevada Gaming Control
Board approved adjustments to the members&#146; percentage interests in the Joint Venture to take into account fundings made
after the Joint Venture acquired the Hard Rock Hotel &#038; Casino in Las Vegas (the &#147;Hard Rock&#148;) and certain related assets
on February&nbsp;2, 2007 (the &#147;Acquisition Closing Date&#148;). &nbsp;DLJ
MB IV HRH, LLC, DLJ Merchant Banking Partners IV, L.P. and DLJMB HRH VoteCo, LLC (collectively, the &#147;DLJMB Parties&#148;)
had collectively funded an additional approximately $244.1&nbsp;million in cash and letters of credit from the Acquisition Closing Date
through November&nbsp;4, 2008, and the Company and Morgans Group LLC (collectively, the &#147;Morgans Parties&#148;)
had collectively funded an additional approximately $15.2&nbsp;million in cash and letters of credit from the Acquisition Closing Date
through January&nbsp;30, 2008. As a result, as of
November&nbsp;4, 2008, after giving effect to the adjustments approved by the Chairman on December&nbsp;4, 2008, the DLJMB
Parties collectively held a 85.84% Percentage Interest (as defined in the Joint Venture&#146;s limited liability company
agreement) in the Joint Venture and the Morgans Parties collectively held a 14.16% Percentage Interest (as defined in
the Company&#146;s limited liability company agreement) in the Joint Venture. &nbsp;The Company&#146;s 14.16% Percentage Interest as
of November&nbsp;4, 2008 gives effect not only to cash contributions by the members, but also letters of credit that have
been posted by the DLJMB Parties and the Morgans Parties, and differs from the Company&#146;s 20.5% ownership percentage
as of that date, which is used for accounting purposes to determine the Company&#146;s profits and losses in the Joint
Venture. &nbsp;When the letters of credit are drawn, the Company&#146;s ownership percentage would be appropriately decreased.


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<P align="center" style="font-size: 10pt"><B>SIGNATURES </B>&nbsp;



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized. &nbsp;



<P align="left" style="margin-left:45%; font-size: 10pt">MORGANS HOTEL GROUP CO.



<P align="left" style="margin-left:2%; font-size: 10pt">Date:
December&nbsp;16, 2008



<P align="left" style="margin-left:45%; font-size: 10pt; margin-top: -11pt">By: <U><B>/</B>s/ Richard Szymanski&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Richard Szymanski
<BR>
Chief Financial Officer

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{"company-data": {"conformed-name": "Morgans Hotel Group Co.", "cik": "0001342126", "assigned-sic": "7011", "irs-number": "161736884", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33738", "film-number": "081252254"}, "business-address": {"street1": "475 TENTH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10018", "phone": "212-277-4100"}, "mail-address": {"street1": "475 TENTH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10018"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 4, 2008
Morgans Hotel Group Co.
(Exact name of registrant as specified in its charter)
Delaware
001-33738
16-1736884
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
475 Tenth Avenue
New York, NY
10018
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(212) 277-4100
Not applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
Morgans Hotel Group's Percentage Interest in Hard Rock Is Reduced
On December 10, 2008, Hard Rock Hotel Holdings, LLC  (the "Joint Venture"), a joint venture of which Morgans Hotel
Group Co. (the "Company") is a member, announced that on December 4, 2008, the Chairman of the Nevada Gaming Control
Board approved adjustments to the members' percentage interests in the Joint Venture to take into account fundings made
after the Joint Venture acquired the Hard Rock Hotel & Casino in Las Vegas (the "Hard Rock") and certain related assets
on February 2, 2007 (the "Acquisition Closing Date").  DLJ
MB IV HRH, LLC, DLJ Merchant Banking Partners IV, L.P. and DLJMB HRH VoteCo, LLC (collectively, the "DLJMB Parties")
had collectively funded an additional approximately $244.1 million in cash and letters of credit from the Acquisition Closing Date
through November 4, 2008, and the Company and Morgans Group LLC (collectively, the "Morgans Parties")
had collectively funded an additional approximately $15.2 million in cash and letters of credit from the Acquisition Closing Date
through January 30, 2008. As a result, as of
November 4, 2008, after giving effect to the adjustments approved by the Chairman on December 4, 2008, the DLJMB
Parties collectively held a 85.84% Percentage Interest (as defined in the Joint Venture's limited liability company
agreement) in the Joint Venture and the Morgans Parties collectively held a 14.16% Percentage Interest (as defined in
the Company's limited liability company agreement) in the Joint Venture.  The Company's 14.16% Percentage Interest as
of November 4, 2008 gives effect not only to cash contributions by the members, but also letters of credit that have
been posted by the DLJMB Parties and the Morgans Parties, and differs from the Company's 20.5% ownership percentage
as of that date, which is used for accounting purposes to determine the Company's profits and losses in the Joint
Venture.  When the letters of credit are drawn, the Company's ownership percentage would be appropriately decreased.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
MORGANS HOTEL GROUP CO.
Date:
December 16, 2008
By:
/
s/ Richard Szymanski
Richard Szymanski
Chief Financial Officer