• M&C improves margins

Millennium & Copthorne saw revpar up 6.9% in constant currency last year, with room rates up 4.2%. All operating segments except Singapore saw positive growth, while hotel operating margins increased by 1%, the company reports.

Excluding one-offs from condo sales, revenues were up 3.8% at GBP820m and profits increased 17.3%. The US was M&C’s best performing market, helped by recent acquisition the Novotel Times Square.

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