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Revenue Plummets For NZ Second Largest Operator

Millennium & Copthorne Hotels New Zealand has lost nearly $3m in revenue so far from Chinese tourist cancellations



Key Points:

  • "Cancellations received to date will result in revenue loss of between $2 million and $3 million with more cancellations expected for future months"

  • Millennium & Copthorne owns & manages c. 20 hotels / 2,500 keys

  • Tourism NZ said travel restrictions could have about a half-billion dollar impact on NZ tourism sector


Millennium & Copthorne said the novel coronavirus would hit its first three months of operations for 2020.


"A number of our hotels in high tourism areas are receiving cancellations from several Chinese operators as the Chinese and New Zealand governments' travel bans and other containment measures come into effect," Millennium & Copthorne said.


"Cancellations received to date will result in revenue loss of between $2 million and $3 million with more cancellations expected for future months."


The hotel group is the second largest operating in New Zealand and owns and manages approximately 20 hotels with just over 2,500 rooms.


The hotel operator's announcement comes as Tourism NZ said the decision to stop travellers from China coming to New Zealand to help prevent the spread of coronavirus could have about a half-billion dollar impact on New Zealand's tourism sector as a whole.