M&C eyes Le Méridien's foreign hotels portfolio

John Wilson, chief executive officer of the 91-strong hotel operator Millennium & Copthorne, has reaffirmed the company's interest in the Le Méridien hotel group.

Wilson used the publication of the firm's latest figures to confirm that M&C was interested in acquiring Le Méridien's non-UK properties, currently in the hands of the bankers Lehman Brothers. Wilson said the firm was "watching what's going on with interest".

M&C considered buying the properties when they were last on the market in 2001 but eventually pulled out.

David Bailey, a director at consultant Tri Hospitality, said that all the serious hotel players were looking at opportunities in the Le Méridien portfolio and M&C "wouldn't be doing their job properly if they weren't".

M&C moved back into the black during the third quarter ended 30 September, posting a third-quarter pre-tax profit of £6.6m, compared with a first-half loss of £6.3m. The occupancy rate of 68.7% for the quarter was also up on the figure of 61% for the first half of 2003.

In the third quarter 2002 the firm posted a pre-tax profit of £10.6m.