Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Millennium & Copthorne Hotels plc    MLC   GB0005622542

MILLENNIUM & COPTHORNE HOTELS PLC (MLC)
My previous session
Most popular
  Report  
Real-time Quote. Real-time BATS EUROPE - 10/19 05:29:59 pm
473.2500 GBp   -3.12%
10/16MILLENNIUM HOTE : to Hold Groundbreaking Ceremony for First New Buil..
PR
10/15MILLENNIUM PTHO : Block listing Interim Review
PU
09/28M&C Hotels chief leaves after just three months in charge
RE
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets

Millennium pthorne Hotels : New York demand lifts hotelier Millennium & Copthorne's revenue

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/30/2017 | 09:19am CEST

(Reuters) - Millennium & Copthorne Hotels, which has received a buyout offer that values it at 1.8 billion pounds from shareholder City Developments, reported higher nine-month room revenue due to strong growth in New York.

Reported revenue per available room (RevPAR) rose 11.5 percent to 82.41 million pounds for the nine months to Sept. 30, the operator of the Millennium, Grand Millennium, Copthorne and Kingsgate hotels said.

Excluding deals, closures and currency movements, like-for-like RevPAR was up 1.4 percent.

M&C's nine-month pretax profit grew 16 percent to 118 million pounds, while revenue rose 13 percent to 748 million pounds.

At least four minority shareholders, including International Value Advisers, MSD Partners, Aberdeen Standard and Fidelity, have criticised Singapore-based City Development's 552.5 pence per share proposed cash offer to buy the 34.8 percent stake it does not own, saying it undervalues M&C's property holdings.

But M&C's board has recommended the proposed offer, which needs approval from minority investors holding a collective 50 percent stake in the company to go through. Any deal would see M&C return to the fold of Singaporean billionaire Kwek Leng Beng's property empire.

On Monday, M&C, which has 130 hotels around the world, and has focussed on building its footprint in major cities such as London, New York and Singapore, did not make any fresh comments on the proposed offer.

Giving an indication on current trading, the group said that like-for-like group RevPAR was up by 0.7 percent for the three weeks ended Oct. 21.

M&C's shares were up marginally at 588 pence at 0814 GMT.

(Reporting by Esha Vaish in Bengaluru; editing by Jason Neely and Louise Heavens)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MILLENNIUM & COPTHORNE HOT
10/17MILLENNIUM PTHORNE HOTELS : Hotels and Resorts to Hold Groundbreaking Ceremony f..
AQ
10/17MILLENNIUM PTHORNE HOTELS : Construction Begins on M Social Sunnyvale Project
AQ
10/16MILLENNIUM HOTELS AND RESORTS : to Hold Groundbreaking Ceremony for First New Bu..
PR
10/15MILLENNIUM PTHORNE HOTELS : Block listing Interim Review
PU
10/03MILLENNIUM PTHORNE HOTELS : Jennifer Fox steps down as CEO of Millennium Hotels
AQ
09/30MILLENNIUM PTHORNE HOTELS : global CEO quits after three months
AQ
09/28M&C Hotels chief leaves after just three months in charge
RE
09/28MILLENNIUM PTHORNE HOTELS : Directorate Change
PU
08/28MILLENNIUM PTHORNE HOTELS : Grand Millennium Celebrates its 10 Years in Beijing
PU
08/28MILLENNIUM PTHORNE HOTELS : Hotels and Resorts partner with Chelsea FC
PU
More news
News from SeekingAlpha
2017An M&A Deal That Will Break Soon 
2016Millennium & Copthorne Hotels Trades At A Discount To NAV 
Financials (GBP)
Sales 2018 1 016 M
EBIT 2018 164 M
Net income 2018 112 M
Debt 2018 671 M
Yield 2018 1,37%
P/E ratio 2018 15,41
P/E ratio 2019 15,01
EV / Sales 2018 2,22x
EV / Sales 2019 2,16x
Capitalization 1 587 M
Chart MILLENNIUM & COPTHORNE HOTELS PLC
Duration : Period :
Millennium & Copthorne Hotels plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MILLENNIUM & COPTHORNE HOT
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Average target price 5,00  GBP
Spread / Average Target 2,4%
EPS Revisions
Managers
NameTitle
Kian Seng Tan Group Chief Executive Officer & Chief of Staff
Leng Beng Kwek Non-Executive Chairman
Bhupesh Yadav Group Chief Operating Officer
Kok-Kee Chong Chief Financial Officer
Howard Wu Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
MILLENNIUM & COPTHORNE HOTELS PLC-19.66%2 066
MARRIOTT INTERNATIONAL-14.90%40 004
HILTON WORLDWIDE HOLDINGS INC-8.60%21 484
ACCOR-3.95%13 830
INTERCONTINENTAL HOTELS GROUP PLC-11.44%10 544
HUAZHU GROUP LTD (ADR)-80.81%8 094