>Full-year profits plunge by 32% at Millennium & Copthorne

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>London proved to be the most resilient market for International hotel firm Millennium & Copthorne hotels over 2009.

Revenue per available room (revpar) in the company’s London hotels declined by just 2.5% for the year. Overall, the company, which operates 120 hotels in 19 countries, saw a 16.3% decrease in revpar throughout the year.

Full-year revenue at the company fell by16.8% (excluding currency variations) to £654m from £703m the year before. Pre-tax profit dropped by 31.9% (excluding currency variations) to £81.9m.

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