Millennium & Copthorne reports revenue drop, optimistic outlook

Millennium & Copthorne Hotels New Zealand has reported a 7.1% decrease in total revenue for the half year ended June 30, 2025.

The company's total revenue reached $79.3 million, compared to $85.3m in the same period last year.

However, Millennium & Copthorne's New Zealand hotel revenue increased by 14.6%, reaching $64.1m, up from $55.9m.

Profit before tax decreased by 47.3% to $11.3m, while profit after tax increased by 184% to $8.5m.

The company attributed the decrease in profit before tax to the impact of a one-off, non-cash deferred tax adjustment in the previous year.

Millennium & Copthorne said it is well-positioned to capitalise on the rebound of the tourism sector.