July 26, 2018 / 11:01 AM / in 3 months

Britain's Millennium & Copthorne Hotels sees lower FY profit

July 26 (Reuters) - Britain’s Millennium & Copthorne Hotels (M&C) on Thursday warned its annual profit will be lower than expected as it plans to close its London Mayfair hotel.

The impact of the project on revenue is estimated to be about 20 million pounds ($26.4 million) and would also lower its operating profit, M&C said.

M&C said performance at its other London hotels for the second quarter was also weaker than last year due to lower revenue and continuing cost pressures.

$1 = 0.7588 pounds Reporting by Arathy S Nair in Bengaluru; editing by Jason Neely

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