MCHNZ: Announcement on Acquisition of The Waterfront Hotel

General Announcement::Announcement by Subsidiary Company, Millennium ...

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General Announcement::Announcement by Subsidiary Company, Millennium & Copthorne Hotels New Zealand Limited

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General Announcement 02-Feb-2018 12:19:00

New

Announcement by Subsidiary Company, Millennium & Copthorne Hotels New Zealand Limited

SG180202OTHRJUKQ

Enid Ling Peek Fong

Company Secretary

Please refer to the Announcement released by Millennium & Copthorne Hotels New Zealand Limited on 2 February 2018 relating to Acquisition of The Waterfront Hotel located at New Plymouth.

02022018_MCHNZ_Acquisition of The Waterfront Hotel.pdf

Total size =158K

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=Annou... 2/2/2018

MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND LIMITED

STOCK EXCHANGE ANNOUNCEMENT

2 February 2018

MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND ACQUIRES THE

WATERFRONT HOTEL, NEW PLYMOUTH

Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) is pleased to announce that The Waterfront Hotel located at 1 Egmont Street, New Plymouth joins the Millennium, Copthorne, Kingsgate and M Social portfolio of hotels from 1st February 2018.

The Waterfront Hotel, which will be rebranded the Millennium Hotel New Plymouth, Waterfront in Q2 of 2018, is situated on a prime waterfront site directly across the road from New Plymouth's coastal cycle way and seashore with picturesque views along the coast. Built in 2003, the three-level hotel is Grade A seismically rated and comprises boutique-style hotel accommodation including 39 hotel suites, two penthouse apartments and one executive apartment. The hotel has a conference facility and the award-winning Salt Restaurant which enjoys uninterrupted views over the ocean.

"This acquisition will further facilitate new opportunities for our global guests from both leisure and business travel sectors and is earnings accretive." said Millennium's Managing Director, Mr BK Chiu.

"Millennium Hotels is excited about the growth of New Plymouth from an international visitor perspective and we are looking forward to working with our tourism and international marketing partners to promote the town and Taranaki region - a region of unique tourist experiences" he said. "We are very pleased to bring this iconic New Plymouth hotel under the Millennium brand and look forward to the continued support from the Taranaki locals and wider community".

ENDS

Issued by Millennium & Copthorne Hotels New Zealand Limited

Enquiries to:

B K Chiu Managing Director (09) 353 5058