Millennium & Copthorne Hotels has reported that for the three months ended March 31, global pretax profit has declined to £18m from £19m in like-for-likes.
In the period, the company saw like-for-like revenue fall to £165m from £170m in the previous year.
Revenue per available room fell by 2.6% to £60.02 from £61.60, which the group said resulted from lower occupancy and room rates across most of the regions it operates in, including London, New York, and Singapore.
However, Millennium & Copthorne Hotel's total revenue, rose to £192m from £189m due to higher contributions from property income.