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.”

During the period, seven management contacts, comprising 1,617 rooms, were secured in London, Dubai, Abu Dhabi and Sharm el Shiekh – taking the total number of group managed and franchised rooms to 5,691.

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.

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By Emily Manson

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