Millennium & Copthorne sees strong growth in USA and Asia during first half

04 August 2006
Millennium & Copthorne sees strong growth in USA and Asia during first half

Hotel group Millennium & Copthorne (M&C) has seen strong growth in the US and Asia during the first half of the year.

Revenue per available room (revpar) was up 16.6% in the USA and 20.8% in Asia, according to its interim results for the half year to June.

Overall group turnover was up 11% to £312.7m (2005: £281m), profit before tax was up 36% to £35.8m (2005: £26.3m).

Kwek Leng Beng, M&C chairman, said: "Results for the half year were strong, particularly in the New York and Singapore markets."

M&C said it had made a strong start to the second half of the year with group revpar up 9.6%.

No replacement for exiting chief executive Tony Potter has been announced yet.

Millennium & Copthorne boss Tony Potter quits role >>

Millennium & Copthorne to open five-star hotel in Beijing >>

Millennium and Copthorne set to enter Chinese market >>

M&C sues US insurance broker over 9/11 losses >>

By Emily Manson

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