NEW YORK: Millennium & Copthorne Hotels Plc cautioned of an uncertain trading environment as hotel revenue fell due to lower occupancy and room rates in key gateway cities of New York, London and Singapore.
The company, which operates the Millennium, Grand Millennium, Copthorne and Kingsgate hotels, said hotel revenue fell 2.9 percent to 165 million pounds ($240 million) in the firs quarter ended March 31.Group revenue, however, rose 1.6 percent to 192 million pounds, helped by growth in its property and REIT businesses.
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