Millennium & Copthorne hotels record strong Q1 results

03 May 2007 by
Millennium & Copthorne hotels record strong Q1 results

Strong demand in London and New York helped Millennium & Copthorne hotels off-set a weak performance in the German market in the first three months of 2007.

The global hotel group saw group revenue per available room (revpar) rise 8.5% across its portfolio of 111 hotels.

London showed particularly strong growth with revpar up 15.8% to £72.14 (2006: £62.24).

UK regional revpar rose 8.5% to £53.86 (2006: £49.66) while New York recorded strong growth also with revpar up 11.4% to £102.65 (2006: £92.14).

Overall turnover for the three months ending 31 March increased 9% to £153.1m and M&C's pre-tax profits leapt 60% to £18.4m.

Millennium & Copthorne chairman Kwek Leng Beng said: "Results for the first quarter were in line with expectations, helped by buoyant market conditions, particularly in New York, London and Singapore."

Beng added the second quarter has begun well with group revpar up by 7.6% in the first 4 weeks of April.

Millennium & Copthorne appoints chief executive to focus on driving US growth >>

Millennium & Copthorne names new chief executive >>

Millennium & Copthorne boosts its profits by 36% in 2006 >>

By Christopher Walton

E-mail your comments to Christopher Walton here.

The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking