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{{Short description|Hospitality management and real estate group}}
{{Infobox company
{{Infobox company
| name = Millennium & Copthorne Hotels plc
| name = Millennium & Copthorne Hotels
| logo = [[Image:Millenniumhotlogo.PNG|200px]]
| logo = Millennium-Hotels-And-Resorts-Logo With-Tagline-sq.jpg
| type = [[Public company|Public]]
| type = [[Private company|Private]]
| traded_as = {{lse|MLC}}
| location = [[Singapore]], [[London]]
| Incorporation = 1994
| location = [[London]], [[United Kingdom|UK]]
| key_people = [[Kwek Leng Beng]], [[Chair (official)|Chairman]]
| key_people = [[Kwek Leng Beng]], [[Chair (official)|Chairman]]<br>Aloysius Lee Tse Sang, [[CEO]]
| industry = [[Hotels]]
| industry = [[Hotels]]
| products =
| products =
| revenue = [[Pound sterling|£]]826 million (2014)<ref name=prelims>{{cite press release| url=http://www.millenniumhotels.com/content/dam/Millennium/CIR/RNS-News/2015/02102015_Final%20Results%202014.pdf| title=Final Results Announcement 2014| date=| publisher=Millennium & Copthorne Hotels| accessdate=2015-03-31}}</ref>
| revenue = [[Pound sterling|£]]997 million (2018)<ref name=prelims>{{cite web| url=https://investors.millenniumhotels.com/~/media/Files/M/MillenniumHotels-IR/documents/results-and-presentations-docs/Final%20Results%202018.pdf| title=Preliminary Results 2018| publisher= Millennium & Copthorne Hotels| access-date=18 March 2019}}</ref>
| operating_income = [[Pound sterling|£]]195 million (2014)<ref name=prelims/>
| operating_income = [[Pound sterling|£]]105 million (2018)<ref name=prelims/>
| net_income = [[Pound sterling|£]]151 million (2014)<ref name=prelims/>
| net_income = [[Pound sterling|£]]93 million (2018)<ref name=prelims/>
| num_employees =
| num_employees =
| parent =
| parent = [[City Developments Limited]]
| subsid =
| subsid =
| homepage = [http://www.millenniumhotels.com www.millenniumhotels.com]
| homepage = {{URL|http://www.millenniumhotels.com}}
| slogan =
| slogan =
| footnotes =
| footnotes =
}}
}}
'''Millennium & Copthorne Hotels''' is a global hospitality management and real estate group, with 125 hotels in 22 countries in Asia, Australia, Europe, the Middle East and North America. The company is headquartered in [[Singapore]] and [[London]]. It was listed on the [[London Stock Exchange]] and was a constituent of the [[FTSE 250 Index]] until it was acquired by [[City Developments Limited]] in September 2019. Millennium Hotels and Resorts operates the Lengs, M, Millennium and Copthorne hotel collections.

'''Millennium & Copthorne Hotels plc''', operator of the Millennium, Copthorne and Kingsgate hotel chains, is a leading global hospitality management and real estate group, with 120 hotels in 79 business and leisure destinations in Asia, Australasia, Europe, the Middle East and North America. The Company was first listed on the London Stock Exchange in 1996<ref name=lse>{{cite web| url=http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB0005622542GBGBXSTMM| title=Millennium and Copthorne Hotels plc| publisher=London Stock Exchange| accessdate=2014-06-17}}</ref> and it is a constituent of the [[FTSE 250 Index]]. Millennium & Copthorne Hotels plc is headquartered in [[London]].



==History==
==History==
The group's origins date to the early 1970s, when Singapore billionaire [[Kwek Leng Beng]] opened the King's Hotel through the [[Hong Leong Group]], the parent company of [[City Developments Limited]] (CDL).<ref name="auto">{{Cite web|url=https://hi-life.hongleong.com.sg/January2020/getting-to-know-you-article01.html|title=Hi Life!|website=hi-life.hongleong.com.sg}}</ref>
The Group's origins date to 1972 when [[British Caledonian Airways]] acquired the Copthorne Hotel at [[Copthorne, West Sussex]], near [[Gatwick]].<ref name=flight>{{cite web| url=http://www.flightglobal.com/pdfarchive/view/1986/1986%20-%200720.html| title=World Airline Directory| work=[[Flight International]]| date=29 March 1986| accessdate=2014-06-17}}</ref> The Copthorne Hotels brand was launched in 1985<ref name=flight/> 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.<ref name=stevenson>{{cite news| last=Stevenson| first=Tom| url=http://www.independent.co.uk/news/business/singapore-investor-buys-hotel-in-london-1413769.html| title=Singapore investor buys hotel in London| work=[[The Independent]]| date=14 July 1994| accessdate=2014-06-17}}</ref> In the same year CDL took control of a 13-hotel chain in New Zealand.<ref name=funding>{{cite web| title=Millennium & Copthorne Hotels plc History| url=http://www.fundinguniverse.com/company-histories/Millennium-amp;-Copthorne-Hotels-plc-Company-History.html| publisher=Funding Universe| accessdate=2014-06-17}}</ref> In 1994, CDL made its entry into the US with the purchase of the [[Millenium Hilton]] in New York and acquired the Millennium Broadway in New York’s Times Square district in December.<ref name=nytimes>{{cite news| url=http://www.nytimes.com/1994/02/16/business/company-news-millenium-sold-to-cdl-hotels-international.html| title=Millenium sold to CDL Hotels International| work=[[The New York Times]]| date=16 February 1994| accessdate=2014-06-17}}</ref> In 1995, CDL Hotels acquired Copthorne Hotels and the enlarged corporation became Millennium and Copthorne Hotels.<ref name=wilson>{{cite news| last=Wilson| first=Iain| url=http://www.heraldscotland.com/sport/spl/aberdeen/singapore-group-buys-glasgow-s-copthorne-aer-lingus-sellshotel-for-224m-1.657677| title=Singapore group buys Glasgow's Copthorne Aer Lingus sells hotel for £224m| work=[[The Herald (Glasgow)|The Glasgow Herald]]| date=7 October 1995| accessdate=2014-06-17}}</ref>


In 1989, CDL Hotels International, which now owned six hotels in Asia, was listed on the [[Hong Kong Stock Exchange]]. In 1993, CDL made its first move outside Asia, purchasing the 548-room Gloucester Hotel and [[The Bailey's Hotel]], both in London.<ref name=stevenson>{{cite news| last=Stevenson| first=Tom| url=https://www.independent.co.uk/news/business/singapore-investor-buys-hotel-in-london-1413769.html |archive-url=https://ghostarchive.org/archive/20220514/https://www.independent.co.uk/news/business/singapore-investor-buys-hotel-in-london-1413769.html |archive-date=2022-05-14 |url-access=subscription |url-status=live| title=Singapore investor buys hotel in London| work=[[The Independent]]| date=14 July 1994| access-date=2014-06-17}}</ref> In the same year CDL took control of a 13-hotel chain in New Zealand.<ref name=funding>{{cite web| title=Millennium & Copthorne Hotels plc History| url=http://www.fundinguniverse.com/company-histories/millennium-copthorne-hotels-plc-history/| publisher=Funding Universe| access-date=2014-06-17}}</ref>
In 1999, Millennium & Copthorne Hotels plc acquired Regal Hotels in the [[United States|US]]<ref name=stl>{{cite news| title=Regal Riverfront becomes Millennium Hotel-St. Louis| url=http://www.bizjournals.com/stlouis/stories/2001/04/09/daily2.html| work=[[American City Business Journals|St. Louis Business Journal]]| date=9 April 2001| accessdate=2014-06-17}}</ref> and in 2001 they expanded into the Middle East with several management contracts secured in the United Arab Emirates. The first of six new hotels in China opened in 2008.<ref name=easier>{{cite news| url=http://www.easier.com/48611-the-five-star-millennium-chengdu-hotel-china-to-open-in-2008.html| title=The five-star Millennium Chengdu Hotel China to open in 2008| work=Easier Travel| date=2 August 2007| accessdate=2014-06-17}}</ref>


In 1994, CDL entered the US market, purchasing [[Millennium Downtown New York Hotel|The Millennium Hilton]]<ref name=nytimes>{{cite news| url=https://www.nytimes.com/1994/02/16/business/company-news-millenium-sold-to-cdl-hotels-international.html| title=Millenium sold to CDL Hotels International| work=[[The New York Times]]| date=16 February 1994| access-date=2014-06-17}}</ref> and the [[Millennium Times Square New York|Macklowe Hotel]], both in New York.<ref name="auto"/>
==Operations==
The Group is structured as follows:
* Millennium Hotels – Worldwide - www.millenniumhotels.com
* Copthorne Hotels – [[China]], [[Malaysia]], [[Singapore]], [[UK]], [[New Zealand]], [[Iraq]], [[Qatar]] and [[UAE]] - www.millenniumhotels.com
* Kingsgate Hotels – [[New Zealand]], [[United Arab Emirates]] - www.millenniumhotels.com


In 1995, CDL Hotels acquired Copthorne Hotels for £219 million. [[British Caledonian Airways]] had acquired the Copthorne Hotel at [[Copthorne, West Sussex]], near [[Gatwick]] in 1972 and later launched the Copthorne Hotels brand in 1985.<ref name=flight>{{cite web| url=http://www.flightglobal.com/pdfarchive/view/1986/1986%20-%200720.html| title=World Airline Directory| work=[[Flight International]]| date=29 March 1986| access-date=2014-06-17}}</ref>
==List of Hotels==
{{col-begin}}
{{col-1-of-2}}
===Asia===
* {{HKG}} New World Millennium Hong Kong Hotel
* {{CHN}} Grand Millennium Beijing
* {{CHN}} Millennium Residences Beijing
* {{CHN}} Millennium Hotel Chengdu
* {{CHN}} M Hotel Chengdu
* {{CHN}} Copthorne Hotel Qingdao
* {{CHN}} Grand Millennium Shanghai Hongqiao
* {{CHN}} Millennium Hotel Wuxi
* {{CHN}} Millennium Harbourview Hotel Xiamen
* {{CHN}} Millennium Hotel Fuqing
* {{CHN}} Millennium Resort Hangzhou
* {{INA}} Millennium Hotel Sirih Jakarta
* {{JPN}} Milllennium Mitsui Garden Hotel Tokyo
* {{MAS}} Grand Millennium Kuala Lumpur
* {{MAS}} Copthorne Orchid Hotel Penang
* {{MAS}} Copthorne Hotel Cameron Highlands
* {{MDV}} Angsana Velavaru
* {{MDV}} Jumeirah Dhevanafushi
* {{PHI}} The Heritage Hotel Manila
* {{SIN}} Grand Copthorne Waterfront Hotel Singapore
* {{SIN}} Orchard Hotel Singapore
* {{SIN}} M Hotel Singapore
* {{SIN}} Copthorne King's Hotel Singapore
* {{SIN}} Studio M Hotel Singapore
* {{TWN}} Millennium Vee Hotel Taichung
* {{THA}} Grand Millennium Sukhumvit Bangkok
* {{THA}} Millennium Resort Patong Phuket


CDL merged the two chains into Millennium & Copthorne Hotels.<ref name=wilson>{{cite news| last=Wilson| first=Iain| url=http://www.heraldscotland.com/sport/spl/aberdeen/singapore-group-buys-glasgow-s-copthorne-aer-lingus-sellshotel-for-224m-1.657677| title=Singapore group buys Glasgow's Copthorne Aer Lingus sells hotel for £224m| work=[[The Herald (Glasgow)|The Glasgow Herald]]| date=7 October 1995| access-date=2014-06-17}}</ref> In 1996, the chain was listed on the [[London Stock Exchange]].<ref name=lse>{{cite web| url=http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB0005622542GBGBXSTMM| title=Millennium and Copthorne Hotels plc| publisher=London Stock Exchange| access-date=2014-06-17| archive-url=https://web.archive.org/web/20150404233224/http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB0005622542GBGBXSTMM| archive-date=2015-04-04| url-status=dead}}</ref>
===Australasia===
* {{NZ}} Copthorne Hotel Auckland City
* {{NZ}} Copthorne Hotel Auckland HarbourCity
* {{NZ}} Copthorne Hotel and Resort Bay of Islands
* {{NZ}} Kingsgate Hotel Autolodge Paihia
* {{NZ}} Kingsgate Hotel Dunedin
* {{NZ}} Kingsgate Hotel Greymouth
* {{NZ}} Kingsgate Hotel Hamilton
* {{NZ}} Copthorne Hotel and Resort Hokianga
* {{NZ}} Copthorne Hotel Grand Central New Plymouth
* {{NZ}} Copthorne Hotel Palmerston North
* {{NZ}} Millennium Hotel Queenstown
* {{NZ}} Copthorne Hotel and Resort Queenstown Lakefront
* {{NZ}} Copthorne Hotel and Apartments Queenstown Lakeview
* {{NZ}} Millennium Hotel Rotorua
* {{NZ}} Copthorne Hotel Rotorua
* {{NZ}} Millennium Hotel and Resort Manuels Taupo
* {{NZ}} Kingsgate Hotel Te Anau
* {{NZ}} Copthorne Hotel and Resort Solway Park Wairarapa
* {{NZ}} Kingsgate Hotel The Avenue Wanganui
* {{NZ}} Copthorne Hotel Wellington, Oriental Bay
* {{NZ}} Kingsgate Hotel Whangarei


In 1999, the company acquired the 17-property Regal Hotels chain in the [[United States]]<ref name=stl>{{cite news| title=Regal Riverfront becomes Millennium Hotel-St. Louis| url=http://www.bizjournals.com/stlouis/stories/2001/04/09/daily2.html| work=[[American City Business Journals|St. Louis Business Journal]]| date=9 April 2001| access-date=2014-06-17}}</ref> and in 2001 it expanded into the Middle East with several management contracts secured in the United Arab Emirates.<ref name="auto"/> In 2006 the chain expanded to China, and opened the first of six more hotels in China in 2008.<ref name=easier>{{cite news| url=http://www.easier.com/48611-the-five-star-millennium-chengdu-hotel-china-to-open-in-2008.html| title=The five-star Millennium Chengdu Hotel China to open in 2008| work=Easier Travel| date=2 August 2007| access-date=2014-06-17}}</ref>
{{col-break}}


In 2015, the group announced four new hotels to open in [[Dubai]].<ref>{{cite news|url=http://www.arabianbusiness.com/millennium-copthorne-signs-deal-for-4-dubai-hotels-592119.html|title=Millennium & Copthorne signs deal for 4 Dubai hotels|newspaper=Arabian Business|date=10 May 2015|author=Crystal Chesters|access-date=28 September 2017}}</ref> Still in 2015, the group's financial results slightly declined due to troubled events affecting tourism worldwide<ref>{{cite web|url=https://www.ft.com/content/67735a29-7eea-3891-8b0c-7d1b2812083c|title=Hotels facing 'uncertain climate' – Millennium & Copthorne|website=Ft.com|date=19 February 2016|author=Nathalie Thomas|access-date=28 September 2017}}</ref> which led to the resignation of its CEO Aloysius Lee.<ref>{{cite web|url=https://www.reuters.com/article/mill-cop-hotels-ceo/millennium-copthorne-hotels-ceo-lee-to-resign-idUSL3N1B54EB|title=Millennium & Copthorne Hotels CEO Lee to resign|website=Reuters.com|date=24 August 2016|access-date=28 September 2017}}</ref> Tan Kian Seng began serving as the interim CEO after Jennifer Fox stepped down as the group's CEO in September 2018, just three months after her appointment.<ref>{{Cite web|url=https://www.hotelmanagement.net/human-resources/three-months-millennium-copthorne-hotels-ceo-steps-down|title=Three months in, CEO Jennifer Fox leaves Millennium & Copthorne Hotels {{!}} Hotel Management|website=www.hotelmanagement.net|language=en|access-date=2018-10-25}}</ref>
===North America===


In 2019, CDL, which owned a controlling 62.5% stake in Millennium & Copthorne Hotels, bought back the remaining shares for £776.29 million and de-listed the company from the London Stock Exchange.<ref name="auto"/>
* {{USA}} Millennium Alaskan Hotel Anchorage
* {{USA}} Millennium Bostonian Hotel Boston
* {{USA}} Millennium Harvest House Boulder
* {{USA}} Millennium Hotel Buffalo
* {{USA}} Millennium Knickerbocker Hotel Chicago
* {{USA}} Millennium Hotel Cincinnati
* {{USA}} Millennium Hotel Durham
* {{USA}} Millennium Biltmore Hotel Los Angeles
* {{USA}} Millennium Hotel Minneapolis
* {{USA}} Millennium Maxwell House Hotel Nashville
* {{USA}} Millennium Broadway Hotel New York
* {{USA}} ONE UN New York
* {{USA}} The Premier Hotel New York
* {{USA}} The McCormick Scottsdale


Clarence Tan was appointed CEO of Millennium and Copthorne Hotels in March 2020,<ref>{{Cite web|url=https://www.straitstimes.com/business/companies-markets/cdl-names-veteran-hotelier-as-group-ceo-for-millennium-copthorne-hotels|title=CDL names veteran hotelier as group CEO for Millennium & Copthorne Hotels &#124; The Straits Times|first=Hermes|last=Auto|date=March 30, 2020|website=www.straitstimes.com}}</ref> and left the role in July 2020 four months after his appointment.<ref>{{Cite web|url=https://www.mingtiandi.com/real-estate/people/mc-hotels-ceo-clarence-tan-quits-after-four-months/|title=M&C Hotels CEO Clarence Tan Quits After Four Months|date=July 24, 2020|website=Mingtiandi}}</ref>
===Europe===
* {{FRA}} Millennium Hotel Paris Charles de Gaulle
* {{FRA}} Millennium Hotel Paris Opéra
* {{ITA}} Grand Hotel Palace Rome
* {{UK}} Millennium Bailey's Hotel London Kensington
* {{UK}} Millennium Gloucester Hotel London Kensington
* {{UK}} Millennium Hotel London Knightsbridge
* {{UK}} Millennium Hotel London Mayfair
* {{UK}} Copthorne Tara Hotel London Kensington
* {{UK}} The Chelsea Harbour Hotel
* {{UK}} Millennium & Copthorne Hotels at Chelsea Football Club
* {{UK}} Copthorne Hotel Aberdeen
* {{UK}} Copthorne Hotel Birmingham
* {{UK}} Copthorne Hotel Cardiff Caerdydd
* {{UK}} Copthorne Hotel Effingham Gatwick
* {{UK}} Copthorne Hotel London Gatwick
* {{UK}} Millennium Hotel Glasgow
* {{UK}} Copthorne Hotel Manchester
* {{UK}} Copthorne Hotel Merry Hill Dudley
* {{UK}} Copthorne Hotel Newcastle
* {{UK}} Copthorne Hotel Plymouth
* {{UK}} Millennium Madejski Hotel Reading
* {{UK}} Copthorne Hotel Sheffield
* {{UK}} Copthorne Hotel Slough Windsor
* {{UK}} Hard Days Night Hotel Liverpool


In May 2020, Millennium & Copthorne announced 910 job losses from its 20 hotels in New Zealand as a result of the [[COVID-19 pandemic in New Zealand|COVID-19 pandemic]].<ref>{{cite news |url=https://www.newshub.co.nz/home/money/2020/05/really-really-hard-more-job-cuts-as-kiwis-spend-less-during-coronavirus-pandemic.html |title='Really, really hard': More job cuts as Kiwis spend less during coronavirus pandemic |first=Tom |last=McRae |date=26 May 2020 |work=Newshub |access-date=28 May 2020}}</ref> In reaction to the [[COVID-19 pandemic]], Millennium and Copthorne Hotels created the We Clean We Care We Welcome Global Safety Commitment.<ref>{{Cite web|url=https://www.millenniumhotels.com/en/offers/global/wecleancarewelcome/|title=Millennium Hotels and Resorts' Global Safety and Cleanliness Commitment|website=www.millenniumhotels.com}}</ref>
===Middle East===
* {{IRQ}} Copthorne Hotel Baranan
* {{IRQ}} Grand Millennium Sulaimani Hotel
* {{JOR}} Millennium Hotel Amman
* {{KUW}} Al-Jahra Copthorne Hotel & Resort
* {{KUW}} Millennium Hotel & Convention Centre Kuwait
* {{OMA}} Millennium Resort Mussanah
* {{OMA}} Millennium Executive Apartments Muscat
* {{QAT}} Millennium Hotel Doha
* {{QAT}} Copthorne Hotel Doha
* {{QAT}} Kingsgate Hotel Doha
* {{SAU}} Millennium Al Aqeeq Hotel
* {{SAU}} Millennium Taiba Hotel Madina
* {{UAE}} Grand Millennium Al Wahda
* {{UAE}} Millennium Corniche Hotel Abu Dhabi
* {{UAE}} Kingsgate Hotel Abu Dhabi
* {{UAE}} Grand Millennium Dubai
* {{UAE}} Millennium Airport Hotel Dubai
* {{UAE}} Millennium Plaza Hotel Dubai
* {{UAE}} Copthorne Hotel Dubai
* {{UAE}} Copthorne Hotel Sharjah
* {{UAE}} Millennium Hotel Fujairah
{{col-end}}


==Ownership==
==Ownership==
In June 2019 the company's board agreed to recommend a takeover offer, valuing the business at £2.23 billion, from City Developments Limited for the shares it does not already own.<ref>{{cite web|url=https://www.independent.ie/world-news/millennium-copthorne-hotels-shares-soar-as-takeover-bid-agreed-38192451.html|title=Millennium & Copthorne Hotels shares soar as takeover bid agreed|work=The Independent|date=7 June 2019|access-date=25 August 2019}}</ref> The transaction became unconditional in September 2019.<ref>{{cite web|url=https://www.businesstimes.com.sg/companies-markets/cdl-takeover-offer-for-millennium-copthorne-hotels-turns-unconditional-0|title=CDL takeover offer for Millennium & Copthorne Hotels turns unconditional|publisher=Business Times|date=14 September 2019|access-date=20 September 2019}}</ref>
A [[Singapore]] investment company [[City Developments Limited]] owns approximately 62% of the issued share capital in Millennium & Copthorne Hotels plc.<ref name=chipkin>{{cite news| url=http://www.hotelnewsnow.com/article/13608/Millennium-expands-through-acquisition| title=Millennium expands through acquisition| publisher=Hotel News Now| date=30 April 2014| accessdate=2014-06-17}}</ref>
==Gallery==


<gallery mode="traditional" widths="px" heights="px">
−
File:Copthorne King's Hotel, Nov 05.JPG|Copthorne King's Hotel, Singapore
File:Grand Millennium Sulaimani Hotel in Sulaymaniyah, Kurdistan.jpg|Grand Millennium Hotel Sulaimani, Iraqi Kurdistan
File:Grand Millennium, Kuala Lumpur (4447681337).jpg|Grand Millennium Kuala Lumpur, Malaysia

File:Part of Copthorne Hotel, Gatwick.jpg|Copthorne Hotel London Gatwick, Sussex, England
−
File:Millennium Vee Hotel Taichung 20121119.jpg|[[Millennium Hotel Taichung]], Taiwan
−
File:Millennium Biltmore Hotel-2.jpg|[[Millennium Biltmore Hotel]], Los Angeles, California
−
File:Dubai ^ Millennium Airport Hotel - panoramio.jpg|Millennium Airport Hotel Dubai, United Arab Emirates
−
File:Millennium Hotel, Glasgow - geograph.org.uk - 573824.jpg|Millennium Hotel Glasgow, Scotland
File:Millennium Seoul Hilton.jpg|Millennium Hilton Seoul, Republic of Korea

File:Millennium Seoul Hilton Atrium.jpg|Lower lobby atrium of Millennium Hilton Seoul, Republic of Korea
−
</gallery>


==References==
==References==
{{reflist}}
{{reflist|30em}}


==External links==
==External links==
* [http://www.millenniumhotels.com Official site] - www.millenniumhotels.com
*{{Official website|www.millenniumhotels.com}}

{{FTSE 250 Index constituents}}
{{COVID-19 pandemic in New Zealand}}


{{DEFAULTSORT:Millennium and Copthorne Hotels}}
{{DEFAULTSORT:Millennium and Copthorne Hotels}}
[[Category:Companies based in London]]
[[Category:City Developments Limited]]
[[Category:Companies established in 1972]]
[[Category:Companies based in the Royal Borough of Kensington and Chelsea]]
[[Category:Companies listed on the London Stock Exchange]]
[[Category:Hospitality companies established in 1972]]
[[Category:1972 establishments in England]]

Latest revision as of 10:44, 20 April 2024

Millennium & Copthorne Hotels
Company typePrivate
IndustryHotels
HeadquartersSingapore, London
Key people
Kwek Leng Beng, Chairman
Revenue£997 million (2018)[1]
£105 million (2018)[1]
£93 million (2018)[1]
ParentCity Developments Limited
Websitewww.millenniumhotels.com

Millennium & Copthorne Hotels is a global hospitality management and real estate group, with 125 hotels in 22 countries in Asia, Australia, Europe, the Middle East and North America. The company is headquartered in Singapore and London. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by City Developments Limited in September 2019. Millennium Hotels and Resorts operates the Lengs, M, Millennium and Copthorne hotel collections.

History[edit]

The group's origins date to the early 1970s, when Singapore billionaire Kwek Leng Beng opened the King's Hotel through the Hong Leong Group, the parent company of City Developments Limited (CDL).[2]

In 1989, CDL Hotels International, which now owned six hotels in Asia, was listed on the Hong Kong Stock Exchange. In 1993, CDL made its first move outside Asia, purchasing the 548-room Gloucester Hotel and The Bailey's Hotel, both in London.[3] In the same year CDL took control of a 13-hotel chain in New Zealand.[4]

In 1994, CDL entered the US market, purchasing The Millennium Hilton[5] and the Macklowe Hotel, both in New York.[2]

In 1995, CDL Hotels acquired Copthorne Hotels for £219 million. British Caledonian Airways had acquired the Copthorne Hotel at Copthorne, West Sussex, near Gatwick in 1972 and later launched the Copthorne Hotels brand in 1985.[6]

CDL merged the two chains into Millennium & Copthorne Hotels.[7] In 1996, the chain was listed on the London Stock Exchange.[8]

In 1999, the company acquired the 17-property Regal Hotels chain in the United States[9] and in 2001 it expanded into the Middle East with several management contracts secured in the United Arab Emirates.[2] In 2006 the chain expanded to China, and opened the first of six more hotels in China in 2008.[10]

In 2015, the group announced four new hotels to open in Dubai.[11] Still in 2015, the group's financial results slightly declined due to troubled events affecting tourism worldwide[12] which led to the resignation of its CEO Aloysius Lee.[13] Tan Kian Seng began serving as the interim CEO after Jennifer Fox stepped down as the group's CEO in September 2018, just three months after her appointment.[14]

In 2019, CDL, which owned a controlling 62.5% stake in Millennium & Copthorne Hotels, bought back the remaining shares for £776.29 million and de-listed the company from the London Stock Exchange.[2]

Clarence Tan was appointed CEO of Millennium and Copthorne Hotels in March 2020,[15] and left the role in July 2020 four months after his appointment.[16]

In May 2020, Millennium & Copthorne announced 910 job losses from its 20 hotels in New Zealand as a result of the COVID-19 pandemic.[17] In reaction to the COVID-19 pandemic, Millennium and Copthorne Hotels created the We Clean We Care We Welcome Global Safety Commitment.[18]

Ownership[edit]

In June 2019 the company's board agreed to recommend a takeover offer, valuing the business at £2.23 billion, from City Developments Limited for the shares it does not already own.[19] The transaction became unconditional in September 2019.[20]

Gallery[edit]

  • Copthorne King's Hotel, Singapore
    Copthorne King's Hotel, Singapore
  • Grand Millennium Hotel Sulaimani, Iraqi Kurdistan
    Grand Millennium Hotel Sulaimani, Iraqi Kurdistan
  • Grand Millennium Kuala Lumpur, Malaysia
    Grand Millennium Kuala Lumpur, Malaysia
  • Copthorne Hotel London Gatwick, Sussex, England
    Copthorne Hotel London Gatwick, Sussex, England
  • Millennium Hotel Taichung, Taiwan
    Millennium Hotel Taichung, Taiwan
  • Millennium Biltmore Hotel, Los Angeles, California
    Millennium Biltmore Hotel, Los Angeles, California
  • Millennium Airport Hotel Dubai, United Arab Emirates
    Millennium Airport Hotel Dubai, United Arab Emirates
  • Millennium Hotel Glasgow, Scotland
    Millennium Hotel Glasgow, Scotland
  • Millennium Hilton Seoul, Republic of Korea
    Millennium Hilton Seoul, Republic of Korea
  • Lower lobby atrium of Millennium Hilton Seoul, Republic of Korea
    Lower lobby atrium of Millennium Hilton Seoul, Republic of Korea

References[edit]

  1. ^ a b c "Preliminary Results 2018" (PDF). Millennium & Copthorne Hotels. Retrieved 18 March 2019.
  2. ^ a b c d "Hi Life!". hi-life.hongleong.com.sg.
  3. ^ Stevenson, Tom (14 July 1994). "Singapore investor buys hotel in London". The Independent. Archived from the original on 2022-05-14. Retrieved 2014-06-17.
  4. ^ "Millennium & Copthorne Hotels plc History". Funding Universe. Retrieved 2014-06-17.
  5. ^ "Millenium sold to CDL Hotels International". The New York Times. 16 February 1994. Retrieved 2014-06-17.
  6. ^ "World Airline Directory". Flight International. 29 March 1986. Retrieved 2014-06-17.
  7. ^ Wilson, Iain (7 October 1995). "Singapore group buys Glasgow's Copthorne Aer Lingus sells hotel for £224m". The Glasgow Herald. Retrieved 2014-06-17.
  8. ^ "Millennium and Copthorne Hotels plc". London Stock Exchange. Archived from the original on 2015-04-04. Retrieved 2014-06-17.
  9. ^ "Regal Riverfront becomes Millennium Hotel-St. Louis". St. Louis Business Journal. 9 April 2001. Retrieved 2014-06-17.
  10. ^ "The five-star Millennium Chengdu Hotel China to open in 2008". Easier Travel. 2 August 2007. Retrieved 2014-06-17.
  11. ^ Crystal Chesters (10 May 2015). "Millennium & Copthorne signs deal for 4 Dubai hotels". Arabian Business. Retrieved 28 September 2017.
  12. ^ Nathalie Thomas (19 February 2016). "Hotels facing 'uncertain climate' – Millennium & Copthorne". Ft.com. Retrieved 28 September 2017.
  13. ^ "Millennium & Copthorne Hotels CEO Lee to resign". Reuters.com. 24 August 2016. Retrieved 28 September 2017.
  14. ^ "Three months in, CEO Jennifer Fox leaves Millennium & Copthorne Hotels | Hotel Management". www.hotelmanagement.net. Retrieved 2018-10-25.
  15. ^ Auto, Hermes (March 30, 2020). "CDL names veteran hotelier as group CEO for Millennium & Copthorne Hotels | The Straits Times". www.straitstimes.com.
  16. ^ "M&C Hotels CEO Clarence Tan Quits After Four Months". Mingtiandi. July 24, 2020.
  17. ^ McRae, Tom (26 May 2020). "'Really, really hard': More job cuts as Kiwis spend less during coronavirus pandemic". Newshub. Retrieved 28 May 2020.
  18. ^ "Millennium Hotels and Resorts' Global Safety and Cleanliness Commitment". www.millenniumhotels.com.
  19. ^ "Millennium & Copthorne Hotels shares soar as takeover bid agreed". The Independent. 7 June 2019. Retrieved 25 August 2019.
  20. ^ "CDL takeover offer for Millennium & Copthorne Hotels turns unconditional". Business Times. 14 September 2019. Retrieved 20 September 2019.

External links[edit]

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