M&Con track for recovery
13 May 2004 by Samantha McClary
Hotel group Millennium & Copthorne has reported increases in turnover, profits and revenue per available room (revpar) in the first three months of 2004. The company reported a 19% increase in pre-tax profit to £5.6m on a turnover of £126.6m, up 1.2% on the same period in 2003. Group revpar was up by 3.7%, with occupancy climbing by 3.6% to 68.5%.
In London, room rates were up by 5.6% to £77.07, with revpar up by 4.6% to £57.57. Occupancy, however, fell by 0.7% to 74.7%.
Chairman Kwek Leng Beng said the results confirmed that the group's recovery was on track.
