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The latest update is out from City Developments ( (SG:C09) ).
Millennium & Copthorne Hotels New Zealand Limited has completed the acquisition of The Mayfair Hotel Christchurch, funded through a $30 million bank facility and available funds. The hotel will transition to the Millennium & Copthorne brand in the coming months, enhancing the company’s presence in the New Zealand market.
More about City Developments
Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) is the sole NZX-listed hotel owner-operator in New Zealand with 18 properties under various brands such as Millennium, Grand Millennium, M Social, Copthorne, and Kingsgate. Part of a global network with over 120 properties, MCK also holds a majority stake in CDL Investments New Zealand Limited and has property interests in Australia through its Kingsgate Group subsidiaries.
YTD Price Performance: -1.06%
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.39B
For an in-depth examination of C09 stock, go to TipRanks’ Stock Analysis page.
