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Brexit-induced pound slide attracts tourists to M&C's London hotels

Wed, 02nd Nov 2016 07:35

Nov 2 (Reuters) - Millennium & Copthorne Hotels Plc said that more tourists visited its London hotels thanks to thesharp decline in sterling since Britain voted to leave theEuropean Union, but it added that the outlook for the UK economyremained uncertain.

The operator of the Millennium, Grand Millennium, Copthorneand Kingsgate hotels said occupancy for its eight London hotelsgrew 4.8 percent over the third-quarter ended Sept. 30.

However, weak trading in M&C's hotels in other major citiessuch as New York and Singapore weighed on third-quarter revenueper available room (RevPar), a key industry measure, which fell1.7 percent in constant currency.

It had reported comparable RevPar fall of 4.2 percent forthe first half. (Reporting by Esha Vaish in Bengaluru, editing by LouiseHeavens)

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