LONDON (dpa-AFX) - Millennium & Copthorne Hotels plc (MLC.L) reported profit before tax of 11 million pounds for the first-quarter compared to 26 million pounds, previous year. Profit was impacted by the Mayfair property refurbishment and lower contributions from Asian hotels, principally due to the Orchard Hotel Singapore refurbishment. Profit to equity holders of the parent was 1 million pounds compared to 8 million pounds, a year ago.
For the first-quarter, reported revenue was 215 million pounds compared to 217 million pounds, last year. Total revenue in constant currency decreased by 9 million pounds, driven mainly by the impact of hotel refurbishment and lower contributions from the REIT hotels and property income. Group RevPAR in constant currency decreased by 0.9%. Like-for-like Group RevPAR decreased by 0.8%.
For the first 21 days of April 2019, like-for-like Group RevPAR increased by 2.2%.
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