| Type | Public (LSE: MLC) |
|---|---|
| Industry | Hotels |
| Founded | 1972 |
| Headquarters | London, UK |
| Key people | Kwek Leng Beng, Chairman Wong Hong Ren, CEO |
| Revenue | £743.7 million (2010)[1] |
| Operating income | £144.1 million (2010)[1] |
| Net income | £97.9 million (2010)[1] |
| Website | www.millenniumhotels.com |
Millennium & Copthorne Hotels plc (LSE: MLC) is a leading British-based hotel business. Including the pipeline, the company owns or operates over 120 hotels in 19 countries around the world. It is headquartered in London and is a constituent of the FTSE 250 Index.
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The Company's origins go back to 1972 when British Caledonian Airways acquired the Copthorne Hotel at Copthorne, West Sussex, near Gatwick.[2] The Copthorne Hotels brand was launched in 1985[2] and a number of new hotels opened in the UK, France and Germany. In 1989 Singapore based CDL Hotels International acquired 6 hotels in Asia and in 1993 CDL made its first move outside Asia - purchasing the 548-room Gloucester Hotel in London.[3] In the same year CDL took control of a 13-hotel chain in New Zealand.[4] In 1994 CDL made its entry into the USA with the purchase of the Millenium Hilton in New York and acquired the Millennium Broadway in New York’s Times Square district in December.[5] In 1995 Copthorne Hotels was acquired by CDL Hotels and the enlarged concern became Millennium and Copthorne Hotels.[6] The company was first listed on the London Stock Exchange in 1996.[7] In 1999 it acquired Regal Hotels of the US.[8]
In 2001 M&C expanded into the Middle East with several management contracts secured in the United Arab Emirates and the first of 6 new hotels in China opened in 2008.[9]
The group is structured as follows:
Millenium HotelAmerica
Europe
Middle East
Asia
Oceania
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Copthorne HotelEurope
Asia
Middle East
Oceania
Kingsgate HotelOceania
Middle East
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The firm is controlled with a 53% stake by Singaporean investment company City Developments Limited.[10]