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Millennium & Copthorne Hotels PLC (MLC.L)

MLC.L on London Stock Exchange

680.00GBp
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-5.00 (-0.73%)
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Latest Key Developments (Source: Significant Developments)

Millennium & Copthorne Q1 Pretax Profit Decreased By 15 Mln Stg To 11 Mln Stg
Friday, 10 May 2019 

May 10 (Reuters) - Millennium & Copthorne Hotels PLC ::MILLENNIUM & COPTHOR - 1ST QUARTER RESULTS.MILLENNIUM & COPTHORNE HOTELS PLC - GROUP REVPAR IN CONSTANT CURRENCY FOR Q1 2019 DECREASED BY 0.9% TO £70.01 (Q1 2018: £70.65).MILLENNIUM & COPTHORNE HOTELS PLC - QTRLY LIKE-FOR-LIKE* GROUP REVPAR DECREASED BY 0.8%.MILLENNIUM & COPTHORNE HOTELS PLC - SEARCH FOR A PERMANENT GROUP CHIEF EXECUTIVE OFFICER IS ON-GOING..MILLENNIUM & COPTHORNE HOTELS PLC - PRE-TAX PROFIT IN CONSTANT CURRENCY FOR Q1 2019 DECREASED BY £15M TO £11M (Q1 2018: £26M).MILLENNIUM & COPTHORNE HOTELS PLC - QTRLY PROFIT WAS IMPACTED BY MAYFAIR PROPERTY REFURBISHMENT AND LOWER CONTRIBUTIONS FROM ASIAN HOTELS.MILLENNIUM & COPTHORNE - IN FINAL STAGE OF DISCUSSIONS WITH HILTON REGARDING GROUP'S OPERATION OF RENAMED MILLENNIUM TIMES SQUARE NEW YORK.MILLENNIUM & COPTHORNE HOTELS PLC - FOR FIRST 21 DAYS OF APRIL 2019, LIKE-FOR-LIKE* GROUP REVPAR INCREASED BY 2.2%.MILLENNIUM & COPTHORNE - OPERATING PERFORMANCE WAS NEGATIVELY IMPACTED BY REFURBISHMENT AFFECTING MAJOR HOTELS IN LONDON AND SINGAPOR.MILLENNIUM & COPTHORNE- ON-GOING REFURBISHMENT WORK AT MAYFAIR HOTEL WHICH IS NOW RENAMED BILTMORE, MAYFAIR, IS EXPECTED TO COMPLETE IN MID-2019.MILLENNIUM & COPTHORNE -TOTAL REVENUE IN CONSTANT CURRENCY DOWN BY £9M.MILLENNIUM & COPTHORNE -TOTAL REVENUE DOWN MAINLY DUE TO IMPACT OF HOTEL REFURBISHMENT, LOWER CONTRIBUTIONS FROM REIT HOTELS AND PROPERTY INCOME.  Full Article

Millennium & Copthorne Says Jennifer Fox Appointed As CEO
Tuesday, 10 Apr 2018 

April 10 (Reuters) - Millennium & Copthorne Hotels PLC ::APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER.JENNIFER FOX WILL BE JOINING COMPANY AS GROUP CHIEF EXECUTIVE OFFICER.  Full Article

Millennium & Copthorne Says 2017 Revenue Rose 8.9 Pct
Thursday, 8 Feb 2018 

Feb 8 (Reuters) - Millennium & Copthorne Hotels Plc ::‍GROUP REVPAR FOR 2017 INCREASED BY 7.9% TO £82.78​.‍TOTAL REVENUE FOR 2017 GREW BY 8.9% TO £1,008M​.‍PROFIT BEFORE TAX FOR YEAR INCREASED BY 36.1% TO £147M​.‍EXPECTS TO MAKE SIGNIFICANT CAPITAL INVESTMENT FOR TRANSFORMATION TO REPOSITIONING OF HOTELS.‍RECOMMENDS A FINAL ORDINARY DIVIDEND OF 4.42P PER SHARE (2016: 5.66P)​.‍IN FIRST 31 DAYS OF TRADING IN 2018, GROUP REVPAR IN CONSTANT CURRENCY INCREASED BY 3.6%​.‍AT 31 DECEMBER 2017, GROUP HAD NET DEBT OF £650M (DEC 2016: NET DEBT £707M)​."‍CONCERNS ABOUT BREXIT HAVE AFFECTED OUR UK HOTELS ESP IN LONDON, WHERE THERE WERE ALREADY PRESSURES ON LABOUR COSTS"​.  Full Article

MSD Partners Writes to Independent Directors on Millennium & Copthorne Hotels deal
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - MSD Partners LP::MSD PARTNERS LP SAYS ‍LETTER WAS PROVIDED BY SHAREHOLDERS IN MILLENNIUM & COPTHORNE HOTELS PLC TO INDEPENDENT COMMITTEE OF BOARD OF DIRECTORS​."WE WILL NOT TENDER OUR SHARES INTO THIS UNATTRACTIVE OFFER AT ANY TIME TO HELP CDL REACH ACCEPTANCE THRESHOLD OF ITS OFFER".MSD PARTNERS LP SAYS ‍CURRENT OFFER, WHICH IS A FINAL OFFER, FROM CDL "REMAINS HIGHLY OPPORTUNISTIC AND SIGNIFICANTLY UNDERVALUES M&C​".LETTER RAISES CONCERN OVER "INADEQUATE REPRESENTATION OF SHAREHOLDER INTERESTS BY INDEPENDENT COMMITTEE".LETTER RAISES CONCERNS OVER "CORPORATE GOVERNANCE ISSUES THAT CDL OFFER HAS HIGHLIGHTED".M&C HAS "EXCELLENT PROSPECTS" AS STANDALONE BUSINESS; "SHOULD SEEK TO MAXIMIZE SHAREHOLDER VALUE".  Full Article

Millennium & Copthorne reports Q3 pretax profit of 55 mln stg
Monday, 30 Oct 2017 

Oct 30 (Reuters) - MILLENNIUM & COPTHORNE HOTELS PLC : :MILLENNIUM & COPTHORNE HOTELS PLC - ‍NINE MONTHS AND Q3 RESULTS TO 30 SEPTEMBER 2017​.MILLENNIUM & COPTHORNE HOTELS PLC - Q3 ‍REVPAR £89.75 VERSUS £85.78​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍Q3 REVENUE TOTAL £263M VERSUS £247M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍Q3 REVENUE - HOTEL £231M VERSUS £221M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - Q3 ‍PROFIT BEFORE TAX £55M VERSUS £46M​ LAST YEAR.MILLENNIUM & COPTHORNE HOTELS PLC - ‍ON A CONSTANT CURRENCY BASIS, GROUP REVPAR WAS UP BY 1.8% FOR THREE WEEKS ENDED 21 OCTOBER 2017​.MILLENNIUM & COPTHORNE - ‍ON A LIKE-FOR-LIKE BASIS, THREE-WEEKS TO OCT 21, GROUP REVPAR INCREASED BY 0.7%, NEW YORK UP BY 3.3%, AUSTRALASIA UP BY 8.0%​.  Full Article

Millennium & Copthorne Hotels ‍says HY REVPAR grew by 4.9 pct at constant currency
Friday, 4 Aug 2017 

Aug 4 (Reuters) - Millennium & Copthorne Hotels Plc :‍IN CONSTANT CURRENCY, GROUP REVPAR GREW BY 4.9% DURING FIRST SIX MONTHS OF 2017​.‍IN Q1 AND Q2 OF 2017, LONDON REVPAR GREW BY 14.5% AND 7.9% RESPECTIVELY​.HY ‍GROUP REVENUE INCREASED BY 16.0% TO £485M OR BY 4.3% IN CONSTANT CURRENCY​.‍PROFIT BEFORE TAX INCREASED BY £7M OR 12.5% FOR SIX-MONTH PERIOD​.‍DECLARED AN INTERIM DIVIDEND OF 2.08P PER SHARE​.‍MANAGEMENT CHANGES ARE CURRENTLY UNDERWAY, WITH INCREASED FOCUS ON SALES, COSTS AND CONTROLS - CHAIRMAN​.‍ON CONSTANT CURRENCY BASIS, REVPAR WAS UP BY 4.3% FOR THREE WEEKS ENDED 21 JULY WITH GROWTH IN ALL REGIONS APART FROM ASIA​.‍REVPAR FOR SINGAPORE AND REST OF ASIA WERE DOWN BY 0.1% AND 3.2% RESPECTIVELY FOR THREE WEEKS ENDED JULY 21​.  Full Article

Deals of the day-Mergers and acquisitions

June 10 The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Monday: