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Millennium & Copthorne Hotels records strong third quarter performance

07 November 2006
Millennium & Copthorne Hotels records strong third quarter performance

Millennium & Copthorne Hotels (M&C) said good performances at its properties in London, New York and Singapore helped it achieve a strong set of third-quarter results.

Turnover in the period increased 6.5% to £156.1m (2005: £146.6m).

Profit before tax was £33.3m (2005: £20m), which included £10.1m pre-tax profit from the sale of the long leasehold interests in three Singapore hotels during the period.

M&C chairman Kwek Leng Beng said no replacement for chief executive Tony Potter, who announced his intention to quit his role in July, had yet been made but the replacement would be from outside the company.

"The Group chief executive position has attracted considerable interest," said Beng.

"The nominations committee is interviewing an impressive selection of applicants and will announce an appointment as soon as possible."

M&C has 105 hotels located around the world.

New role for ex- Millennium & Copthorne chief Tony Potter >>

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=M&C records a strong third quarter) here.

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