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:
No comments yet
Pacific Edge Limited (NZX: PEB) United Healthcare Issues Positive Coverage Cxbladder
Scott Technology Limited (NZX: SCT) 2021 Half Year Announcement
NZX Limited (NZX: NZX) Appoints Specialist Global Expert to Tech Committee
AFT Pharmaceuticals Limited (NZX: AFT) Secures New Partners in Poland and Greece
Radius Residential Care Limited (NZX: RAD) Christchurch Property Development Update
Air New Zealand Limited (NZX: AIR) Welcomes Announcement of Tasman Bubble
Accordant Group Limited (NZX: AGL) Intention to Acquire up to 1,000,000 Ordinary Shares
Contact Energy Limited (NZX: CEN) Buys Geothermal Specialists Western Energy Services
Chorus Limited (NZX: CNU) Notice to Dividend Reinvestment Plan Participants
Chorus Limited (NZX: CNU) Reduces Indicative Maximum Allowable Revenue Range