Millennium & Copthorne Hotels is planning to expand its presence in the UK and Ireland following a 48% jump in profits.
The group is planning to open 20 Copthorne-branded hotels, which are likely to be franchise operations or management contracts, two of which are currently being negotiated.
The move follows strong performance in London and New York, with pre-tax profits before exceptional items up to £55m in 2004 (£26.4m in 2003). Group turnover was up 4.6% to £547.1m (£523.1m in 2003).
London also performed well, especially the Millennium Knightsbridge, with overall turnover reaching £77.2m in 2004 and hotel operating profit at £26.6m.
by Shirley Kumar
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