27 May 2020

Millennium and Copthorne Hotels to lay off 900+ staff

From Morning Report, 8:21 am on 27 May 2020

One of New Zealand's biggest hotel chains, Millennium and Copthorne Hotels, says it will shed more than 900 of its 1300 employees.

The news represents a grim reversal of the company's fortunes, after it reported its best-ever year in 2019, with more than $229.7 million in revenue.

The occupancy rate across the company's hotels crashed to 1.5 percent this April, from 83.7 percent at the same time last year.

Dean Humphries is the national director of Hotels at Colliers International.

He speaks to Susie Ferguson.