Millennium & Copthorne Hotels

New Millennium hotel planned in Tokyo’s Ginza district

Millennium & Copthorne Hotels (M&C) made its first investment in the Japanese hotel market. Its wholly-owned subsidiary, CDL Hotels has bought a property in the Ginza district of Tokyo for 9.5 billion yen (73.6 million pounds). The M&C said it intends to build a hotel on the site and construction is targeted to be completed by the end of 2014. The development project will be project managed...

M&C’s H1 post-tax profit up 45%

Millennium and Copthorne (M&C) Hotels, the hotel arm of mainboard-listed City Developments (CDL), has reported that its post-tax headline profit rose some 45 per cent on-year to £36.5 million ($78.4 million) for the first half of this year. This came on the back of 11 per cent rise in group revenue to about £350.5 million. Revenue per available room (RevPAR) - an industry performance gauge - rose...

Millennium & Copthorne Hotels encounters difficulty with a Chinese JV

Millennium & Corpthorne Hotels New Zealand Limited, a subsidiary of Millennium & Corpthorne Hotels, one of the largest hotel owners and operators in the world announced on Monday, an update on the difficulties arising from actions initiated by one of its partners in a Chinese joint venture - First Sponsor Capital Limited (FCSL). Cheung Ping Kwong who controlled FSCL, in March seized the company...

Millennium & Copthorne Hotels sees revenue decline slowing in 3 months to Sept

There are signs the worst may be over for the hotel industry in Singapore. That's according to Millennium & Copthorne Hotels, a unit of Hong Leong Group. It said revenues are showing signs of picking up. And M&C also sees room for further growth next year despite the opening of the two integrated resorts in Singapore. Kwek Leng Beng, executive chairman, Hong Leong Group, said: "I believe that...

M&C posts 22.4% fall in H1 profit due to slower growth

Millennium & Copthorne Hotels has reported a 22.4 per cent decline in first-half earnings, due to slower growth in UK and New Zealand. Profit for the six months ended June came in at 45 million pounds or US$88 million. The bottomline was also weighed down by costs of refurbishing hotels in Boston and Chicago. M&C's revenue rose by 4.5 per cent to 338 million pounds. The group owns, manages and...

Fashion hotels for Singapore

No-frills establishments offering high-tech amenities aimed at business travellers MILLENNIUM and Copthorne Hotels (M&C) may build up to five more “limited service” hotels in Singapore, if the one currently under construction along Mohammed Sultan Road takes off. The London-listed hotel group’s chief executive Richard Hartman, revealing this yesterday during an interview, said more may also pop...

Millennium & Copthorne Hotels New Zealand completes Auckland hotel deal

Millennium & Copthorne Hotels New Zealand said it has completed its purchase of the Copthorne Hotel Auckland Harbourcity. But in a filing to the Singapore Exchange, it said the price of the deal was confidential. Millennium & Copthorne is funding the purchase with cash and a new loan facility. The area around the Copthorne Hotel Auckland Harbourcity is now a focal point for entertainment and...

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