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City Developments ( (SG:C09) ) has shared an announcement.
Millennium & Copthorne Hotels New Zealand Limited has entered into a new five-year management lease agreement for the Grand Millennium Auckland with CDLHT (BVI) One Ltd, with an option for a further five-year renewal. This agreement ensures the continuation of Grand Millennium Auckland as a key asset in MCK’s portfolio, enhancing its presence in Auckland’s competitive hotel market, especially with the anticipated increase in conference and incentive business.
The most recent analyst rating on (SG:C09) stock is a Hold with a S$8.00 price target. To see the full list of analyst forecasts on City Developments stock, see the SG:C09 Stock Forecast page.
More about City Developments
Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) is a hotel owner-operator listed on the NZX, managing 19 hotels across New Zealand under various brands including Millennium, Grand Millennium, M Social, Copthorne, and Kingsgate. As part of a global network, MCK is involved in property interests in New Zealand and Australia, including a significant stake in CDL Investments New Zealand Limited and a joint venture in Sofitel Brisbane Central.
Average Trading Volume: 2,134,107
Technical Sentiment Signal: Buy
Current Market Cap: S$6.42B
For a thorough assessment of C09 stock, go to TipRanks’ Stock Analysis page.