Millennium & Copthorne says impairment charges will dent 2015 profit
12th Feb 2016 07:45
(ShareCast News) - Millennium & Copthorne Hotels, which is due to release its full year results next Friday, expects to recognise a net charge of around £43m against pre-tax profits for 2015. It said the net charge includes £76m of impairment losses relating primarily to four of its properties in th
Read moreHilton launches budget hotel brand
25th Jan 2016 16:04
(ShareCast News) - After hotels giant Hilton launched a new brand aimed at budget travellers, shares in UK hotel companies were sent lower on Monday on fears of increased competition. Hotel said its new Tru brand will "fill a massive void" in the hotel market, arguing that the offering of rival budg
Read moreFTSE 250 movers: Playtech surges on update; Millennium slumps as results disappoint
29th Oct 2015 14:03
(ShareCast News) - London's FTSE 250 index was down 0.3% to 17,098.97 at 1505 GMT as investors digested a hawkish policy statement from the Federal Reserve and mixed US data releases. Playtech was a high riser after the gambling and software services supplier reported strong trading in both of its d
Read moreMillennium & Copthorne under pressure in Asia
29th Oct 2015 08:29
(ShareCast News) - Millennium & Copthorne Hotels posted lower revenue and profit in the third quarter due to weaker performance in Singapore and Rest of Asia. With revenue per available room (revpar) down 0.1% in the quarter to £77.66, group revenues for the quarter were down 2.8% to £211m, meaning
Read moreMillennium & Copthorne first-half profit boosted by joint ventures
30th Jul 2015 10:57
(ShareCast News) - Millennium & Copthorne Hotels posted a rise in first-half pre-tax profit, mostly on the back of higher contributions from joint ventures. Profit increased 6.9% to £62m from £58m, on revenue of £404m, up 6.3% from £380m. Revenue per available room was up 4% at £68.28 from £65.67,
Read moreFTSE 250 movers: Telecity jumps 20% on £2.3bn Equinix offer
7th May 2015 15:26
Despite posting some slightly disappointing first-quarter results, datacentres group Telecity was leading the risers on the FTSE 250 after receiving a takeover offer from Equinix at 1,145p per share in cash and equity. This bid, at a 27% premium to the closing price on Wednesday, values Telecity at
Read moreMillenium & Copthorne profits suffer from New York labour negotiations
7th May 2015 09:36
First-quarter profits slipped 5% at hotels group Millenium & Copthorne, which argued trading was in line with historically slower trading patterns. Revenues rose 8% to £189m in the three months to 31 March, with revenue per available room up 5.8% to £61.60 on the same period last year. Chairman Kwe
Read moreMillennium & Copthorne remains upbeat about prospects for 2015
10th Feb 2015 15:33
Millennium & Copthorn Hotels saw fourth quarter pre-tax profit and revenue fall, but remained confident of delivering strong performances in 2015. The hotel operator reported pre-tax profit of £80m for the three months ended 31 December, down from £179m in the corresponding period of 2013. Revenue
Read moreMillennium & Copthorne Hotels acquires a further 30% of Quantum
28th Nov 2014 14:47
Millennium & Copthorne Hotels settled an acquisition on Friday for the remaining 30% stake in overseas investment office Quantum. The hotel firm has paid a consideration of $14.25m for the additional interest in Quantum. Quantum is the principal operating subsidiary of Millennium & Copthorne Hotels
Read moreMillennium and Copthorne Hotels releases encouraging quarterly results
30th Oct 2014 14:28
Millennium & Copthorne Hotels (MLC) has released encouraging third quarter results following increased profit due to higher occupancy and room rates. Revenue rates for the third quarter of 2014 showed a 5.5% increase from the previous year's figure, rising to a total of £215.9m. Profit before tax in
Read moreMillennium & Copthorne acquires luxury hotel in Rome
10th Oct 2014 12:37
Millennium & Copthorne Hotels (M&C) has completed the €65.5m acquisition of a freehold interest in the five-star hotel trading as the Boscolo Palace Roma. The property, which contains 87 luxury guest rooms, will be operated by M&C as the Grand Hotel Palace. The FTSE 250 group made the purchase thro
Read moreSterling, Asia hit H1 performance at Millennium & Copthorne
31st Jul 2014 13:34
Millenium & Coprthorne posted a drop in first half revenue and profit, which it blamed on the strength of sterling, challenging Asian markets - in particular Singapore - and higher costs. Revenue per available room (RevPAR) declined by 2.4% from £67.27m to £65.67m, while group revenue dipped 0.4% f
Read moreMillennium & Copthorne interim CFO to leave after one month
17th Jun 2014 10:17
The interim Chief Financial Officer of Millennium & Copthorne Hotels is leaving to take up a permanent role elsewhere, the group revealed on Tuesday. Andrew Cherry's appointment was only announced on May 9th following the departure of John Chang a month earlier. The group said it was continuing
Read moreMillenium & Copthorne completes acquisition of Novotel in NYC
13th Jun 2014 07:48
Hotels group Millennium & Copthorne has completed the acquisition of the Novotel New York Times Square hotel in New York City. The 34-storey building is located in the centre of Manhattan's theatre district and contains the 480-room hotel as well as office and retail space and a penthouse apartmen
Read moreMillennium & Copthorne appoints new CFO
9th May 2014 14:39
FTSE-250 hotels group Millennium & Copthorne announced it has appointed Andrew Cherry as interim Chief Financial Officer (CFO). Cherry was recently CFO at GLH Hotels, formerly Thistle Hotels, in London, prior to which he acted as group Finance Director at power products provider Volex. Cherry wil
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