Jeffrey Chodorow Exits Morgans Hotel Group for $20 Million

Jeffrey Chodorow has sold the 50% interests he owns in the food and beverage joint ventures at Delano, Mondrian South Beach, Mondrian Los Angeles, Morgans, Sanderson and St. Martin's Lane to Morgans Hotel Group for a cool $20 million. And while Chodorow may be saying buh bye to Blue Door Fish, his China Grill Management will obtain full ownership of the Asia de Cuba brand and everything associated with it.

We spoke to Chodorow, who was en route to LA, where he'll be not so ironically staying at the Mondrian, who told us, "I loved doing the Delano. It was like home to me. But the hotel wants to reposition and needed to have control over what they're doing. They couldn't have control over me." That said, Chodorow added that Morgans was "Fair with me and I was fair with them," explaining that he was always turning down offers to take Asia de Cuba around the world. Now he can do just that. "You have to give something up to get something," he said. And while he may be exiting the Delano for now, don't count a return out just yet. "We'll see what happens--maybe they'll come back to me when they see what I can do." [EaterWire]