Morgans Hotel Group (MHG) has secured a management and licensing agreement to run a new 310-room lifestyle hotel as part of the Baha Mar Resort development in the Bahamas.

The Mondrian-branded property is scheduled to open in late 2014 and is expected to feature 188 hotel rooms; 122 Mondrian-branded residential units; an ocean-view lobby; and a spa. A fitness centre; multiple swimming pools and cabanas; and meeting space are also planned, in addition to food and beverage outlets - including two full-service restaurants.

MHG chief executive officer Michael Gross said: "The fact that we were hand-selected to operate the lifestyle hotel within the Baha Mar Resort speaks volumes to the future growth potential of our Company and our unique brands. "We believe this deal will allow Morgans to strengthen its brand portfolio while generating attractive management and branding fee returns."

Work started on the 1,000-acre (405-hectare) Baha Mar resort scheme earlier this year, which is being delivered in partnership with China State Construction Engineering Corporation. In addition to the lifestyle hotel, a 200-room luxury hotel operated by Rosewood Hotels and Resorts with signature spa and a 1,000-room hotel and casino resort are also planned.

Meanwhile, MHG has also reported its results for the second quarter ending 30 June 2011, which saw adjusted EBITDA decrease by 14.8 per cent compared with Q2 2010.