Covid-19 hit Millennium & Copthorne Hotels NZ Ltd’s returns for the June half-year because its main business is international tourism, but the company stayed ahead through the returns from its residential development subsidiary, CDL Investments NZ Ltd, and a tax credit.
Read more →Millennium and Copthorne
Hotelier to cut over 900 jobs, land developer CDL in good shape
Millennium & Copthorne NZ Ltd director Graham McKenzie told the company’s online annual meeting yesterday 910 of the company’s 1300 employees would lose their jobs as a result of the Covid-19 changes to its business.
Read more →Millennium & Copthorne sees trading loss rising
Millennium & Copthorne Hotels NZ Ltd said on Wednesday its first-half revenue loss would certainly exceed the $24 million forecast 9 days ago.
Read more →Hotelier sees longlasting effects from restrictions, development subsidiary still busy
Millennium & Copthorne Hotels NZ Ltd managing director BK Chiu said today the Government’s new border entry restrictions due to the Covid-19 virus would have potentially longlasting effects on its hotel trading & operations.
Read more →Millennium & Copthorne Hotels income up, profit steady, virus hits bookings
Millennium & Copthorne Hotels NZ Ltd lifted its income by 35% in 2019 and scored a net jump of over 150% in revaluations/impairments, but increased net profit by only $312,000.
Read more →CDL sustains earnings, asset values jump
CDL Investments NZ Ltd’s annual earnings from its land subdivision business were up marginally, but the company’s asset values have jumped.
Read more →Hotelier goes conditional on Whangarei site
Millennium & Copthorne Hotels NZ Ltd has conditionally bought a site from the Whangarei District Council for a 4-star hotel of 70-80 rooms.
Read more →2 Hong Leong entities renew Grand Millennium management lease
CDL Hospitality Trusts (as owner) and Millennium & Copthorne Hotels NZ Ltd (as manager) said yesterday they’d renewed the management lease of the Grand Millennium Auckland on Mayoral Drive for a further 3-year term from September.
Read more →Hotel company sees headwinds
Millennium & Copthorne Hotels NZ Ltd made a record $49.4 million after tax in 2018, but chair Colin Sim told the annual meeting yesterday faced headwinds.
Read more →Scottish fund manager lifts stakes in Millennium & Copthorne and CDL
Scottish investment manager Aberdeen Standard Investments Ltd has lifted its stake in 2 NZX-listed companies controlled by the Hong Leong Group of Singapore – to 13.24% for its stake in Millennium & Copthorne Hotels NZ Ltd and 8.38% in CDL Investments NZ Ltd.
Read more →Hotelier lifts profit 24%
Hotel owner-operator Millennium & Copthorne Hotels NZ Ltd lifted net profit 24.4% in the June half-year to $39.6 million, on revenue up 22.5% to $127.5 million).
Read more →Shareholder puts resolution questioning hotel company dividends
Minority shareholders in NZX-listed Millennium & Copthorne Hotels NZ Ltd have the opportunity to poke a stick at the majority controlling interest in the company at the annual meeting next Thursday, 31 May.
Read more →Hotelier lifts earnings, bumps up dividend
Millennium & Copthorne Hotels NZ Ltd has bumped its dividend up from 5c to 6c/share, fully imputed, after lifting profit by 6.7% in 2017.
Read more →Hotelier makes small profit gain
Hotel owner & operator Millennium & Copthorne NZ Ltd lifted profit after tax & non-controlling interests by 1.85% in the June half compared to the first half of 2016, on pretax earnings up 6.9%.
Read more →4 reasons for doubling of Millennium & Copthorne profit
Millennium & Copthorne Hotels NZ Ltd cited 4 reasons this week for doubling its profit for the June half.
Read more →Rendezvous hotel to become Grand Millennium
Millennium & Copthorne Hotels NZ Ltd will take over the lease on the Rendezvous Grand Auckland Hotel in September, and its name will change to the Grand Millennium Auckland.
Read more →Propbd on Q W16Dec15 – listeds: hotels exit franchise, Highbrook deal finalised, PFI lift, Zara coming to NZ, Rainbow tick, Eastgate leases
2 hotels sold out of Millennium & Copthorne franchise – Goodman completes 2012 Highbrook acquisition – PFI gets 5% valuation lift – Zara the next big name for Sylvia Park – Fletcher Building scores the Rainbow tick – 3 Eastgate lease agreements go unconditional
Read more →Millennium & Copthorne lifts half-year profit
Millennium & Copthorne Hotels NZ Ltd lifted its half-year profit after tax & non-controlling interests by 93% to $12.01 million ($6.22 million), but expects a similar full-year result to 2014 as returns are reduced while the Copthorne Hotel Auckland Harbourcity is refurbished.
Read more →Propbd on Q Sn26July15 – Arvida plan fully subscribed, Quay St hotel refurb starts
Arvida plan closes fully subscribed – Millennium & Copthorne closes Quay St hotel for reburbishment
Read more →Propbd on Q T26May15 – 9 sell at Colliers, convention centre go-ahead, Quay St hotel remodelling to start
9 sell out of 12 properties at Colliers auction – Convention centre agreement reached – aim to start this year – Tenders in soon for Quay St Copthorne’s remodelling
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