MCK FY2024 Annual Report

Friday 28th March 2025

Millennium & Copthorne Hotels New Zealand Limited (the Company, MCK) (NZX: MCK ) has announced its results for the 12 months to 31 December (FY24), reporting a significant uplift in revenue and a continued improvement in profit before tax despite the weaker tourism and property markets in 2024.

MCK’s chairman, Colin Sim, said: “The strong results demonstrate the resilience of our business and the value of the Revive and Thrive strategy. We are now nearing the end of the Revive stage and expect to move to Thrive in late 2025.

“We continue to invest into targeted growth opportunities that will add value for our shareholders. Over the past few years, we have invested significantly in refurbishing and upgrading our hotels and have expanded our network through acquisition. We have also identified surplus land adjacent to our hotels (including at Rotorua, Queenstown and Palmerston North), which provide optionality for further development or sale.

“The long-term macro drivers for our business are positive – the tourism and property markets are both expected to start to recover in the coming year; New Zealand is a top tourist destination and tourism is New Zealand’s second highest export earner. We are well positioned to benefit as visitor numbers build up again over the coming year, with a national network of quality hotels in attractive locations, many of which have been recently refurbished.”

MCK 2024 Annual Report

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