Hotelier Millennium & Copthorne said on Thursday current bookings are showing positive momentum, with the rate of decline in revenues slowing, and the worst impact of the recession may be behind it.
M&C, which operates 120 hotels in 19 countries around the world, said revenue per available room (RevPAR) dropped by 17.7 per cent in the third quarter compared with a fall of 21.3 per cent in the second quarter.
‘Whilst it is too early to predict with accuracy how markets will behave in 2010 we are encouraged by these improving trends which suggest that the worst may be behind us,’ said Chairman Kwek Leng Beng.
Source: Business Times, 5 Nov 2009
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