Millennium & Copthorne Hotels New Zealand rises on plans to buy Mayfair Hotel Christchurch

Millennium & Copthorne Hotels New Zealand

23/10/2024 01:38

** Shares of Millennium & Copthorne Hotels New Zealand
 MCK.NZ  rise as much as 2.3% to NZ$1.8, their highest since
Sept. 13 
    ** Stock marks its best day since Oct. 7
    ** Hotel operator says it will buy Mayfair Hotel
Christchurch for a purchase price of NZ$31.9 mln ($19.27 mln)
    ** "Christchurch has always been a strategically important
market for us and the acquisition of this hotel comes at the
right time as visitor numbers and interest in Christchurch are
both increasing" - Managing Director Stuart Harrison


($1 = 1.6551 New Zealand dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))