Millennium spends $14.25 million on final stake in Quantum

Thu, 10 Jul 2014

By Suze Metherell July 10 (BusinessDesk) - Millennium & Copthorne Hotels New Zealand, which operates 22 hotels across the country, will spend $14.25 million in cash to buy the remaining 30 percent stake in its Quantum joint venture that it doesn't own from Te Maori Lodges. Quantum, which owns and leases seven hotels across the country including Millennium Hotel Queenstown, Rotorua's Copthorne Hotel and the Kingsgate Hotel in Dunedin, is the Auckland-based hotel chain's main subsidiary in New Zealand. The buyout of the remaining the remain...

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