Sharechat Logo

Millennium & Copthorne Hotels New Zealand Limited (NZX: MCK) Update on Proposed Whangarei Hotel Development

Tuesday 6th April 2021

Text too small?

Millennium & Copthorne Hotels New Zealand advises that it has decided not to proceed with the agreement and the associated development.

“We are disappointed that we are not able to proceed with the proposed development but the landscape for tourism and accommodation has changed beyond measure since the agreement for the land was entered into in 2019”, said MCK Managing Director Mr. BK Chiu. “After a lot of time and work on this project, we have had to make the very difficult decision not to take this agreement further”, he said.

The decision not to proceed with the proposed hotel will not impact on MCK’s 2021 trading or financial position.

MCK thanks the Whangarei District Council for its understanding and cooperation during negotiations and throughout 2020 while MCK was reassessing its business case for the proposed hotel. As the negotiations have been confidential to the parties, neither MCK nor Whangarei District Council will be making any further comment.

Please see the link below for details:

MCK: Update on proposed Whangarei Hotel Development 060421

Source: Millennium & Copthorne Hotels New Zealand Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Pacific Edge Limited (NZX: PEB) Placement Upsized Following Strong Demand
24th September 2021 Morning Report
23rd September 2021 Morning Report
Pacific Edge Limited (NZX: PEB) Dual Lists on ASX; Announces Capital Raise to Accelerate
Tower Limited (NZX: TWR) Updates Guidance
South Port New Zealand Limited (NZX: SPN) 2021 Annual Report
22nd September 2021 Morning Report
Kathmandu Holdings Limited (NZX: KMD) FY21 Annual Results Announcement
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Update on Demerger and Office Fund
21st September 2021 Morning Report