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M&C sees uncertain trading after weaker first-quarter hotel business

Reuters

(Reuters) - Millennium & Copthorne Hotels Plc (MLC.L) cautioned of an uncertain trading environment as hotel revenue fell due to lower occupancy and room rates in key gateway cities of New York, London and Singapore.

The company, which operates the Millennium, Grand Millennium, Copthorne and Kingsgate hotels, said hotel revenue fell 2.9 percent to 165 million pounds in the firs quarter ended March 31.

Group revenue, however, rose 1.6 percent to 192 million pounds, helped by growth in its property and REIT businesses.

(Reporting by Esha Vaish in Bengaluru; Editing by Gopakumar Warrier)