Millennium & Copthorne Blames Struggles on Rising Costs in Hospitality
Photo Credit: The Hard Days Night Hotel in Liverpool claims to be the world's only Beatles inspired hotel. Parent company Millennium and Copthorne Hotels reported a fall in third quarter profits. Millennium and Copthorne Hotels
Skift Take
The abrupt departure of a CEO and falling profit set off plenty of alarm bells. Will Millennium & Copthorne be able to turn things around, or do its struggles represent the start of a wider industry slowdown?
Millennium & Copthorne Hotels has warned of challenging conditions in the hospitality sector as it reported a fall in third quarter profits on Friday.
The company, which has a portfolio of 137 properties spread across the world, saw pre-tax profit fall 38 percent to $44 million (£34 million) in t
