MCK - Millennium & Copthorne Hotels NZ Limited

[Otago K]

😂 No, Was still worked up after paying for my gold plated Oysters.

Too be fair the resources are on limited active quotas due to some health challenges last couple of seasons. Supply and Demand.

[entrep]

I've used today's additional selling to get on to the share register. I probably should have posted my note after instead of before buying lol, was pretty bullish!

[alkebab]

I've used today's additional selling to get on to the share register. I probably should have posted my note after instead of before buying lol, was pretty bullish!

Bit of consistent selling going on over the last 2 weeks - usually in batches of 4-5k stocks every 2-3 days below $3.30. Small time holders getting impatient?

[Basil]

I've used today's additional selling to get on to the share register. I probably should have posted my note after instead of before buying lol, was pretty bullish!

Welcome aboard mate.

[entrep]

Hotel operations absolutely humming and future looking bright https://api.nzx.com/public/announcement/470003/attachment/464828/470003-464828.pdf. Development not so much...

Happy to hold and wait for true value realisation.

[Basil]

Check out who some of the top 20 shareholders are 

[alkebab]

Check out who some of the top 20 shareholders are 

JP Morgan is out of the top 20. Citibank and HSBC both sold a lot.

2024 Company report
https://api.nzx.com/public/announcement/449168/attachment/440345/449168-440345.pdf
2025 Company report
https://api.nzx.com/public/announcement/470003/attachment/464828/470003-464828.pdf

[Scooter]

Het

Check out who some of the top 20 shareholders are 

Hey Basil.
Thought you had 160k shares... 157k is a bit short 🤣🤣😂
But we'll done being a top 20. Take a bit of guts to get there.  Hope you get the end result you want 😁

[Basil]

Thanks. I bought a few more after that date.

[Stoploss]

Check out who some of the top 20 shareholders are 

Directors are a little bit light on shares ......

[Southern Lad]

Copthorne Rotorua is on the market - https://www.nzherald.co.nz/rotorua-daily-post/news/rotorua-hotel-investment-copthorne-on-fenton-st-for-sale/premium/WO4MEWIZSBHQNCL4OEGL5U4OEY/

https://www.colliers.co.nz/en-nz/real-estate-news/major-potential-in-prime-rotorua-site

Will be an interesting test of value for the hotel portfolio.  Valuation in the 2025 Target Company Statement was $10.1m for the hotel (although this was valued based on land value less allowance for demolition costs) and $5.675m for the surplus land.   Maybe this suggests hotel at end of it's economic life and MCK doesn't see value in rebuilding.

MCK also has the Millennium Hotel (value $66m in the Target Company Statement) closer to the CBD so assume they feel they have a strong enough presence in the market.

[Southern Lad]

Great to see that Graham McKenzie has agreed to stand for reelection to the MCK board for another year.  If successful, this maintains three independent directors.

[Basil]

Great to see that Graham McKenzie has agreed to stand for reelection to the MCK board for another year.  If successful, this maintains three independent directors.

Indeed.  CDL have a fair few hotels in the Middle East so I imagine dealing with the security risks around those is where managements attention is currently focused.  Once the geopolitical tension eases I think the relative attractiveness of further investment down under in this safe part of the world will be abundantly clear.  I'm hoping for a takeover at close to fair value later this year or early next year.  I'm planning on attending the annual meeting and will post any thoughts that stem from that afterwards.  Are you coming up for the annual meeting Southern Lad ?

[Crackity]

Iverson said it preferred NZ equities because it could generate better returns.  ACC often appears on the NZX shareholder register but needs exemptions to exceed 5%, which is the threshold for significant shareholder status.  It's a canny investor.  For example, it has built a stake of more than 7% in Millennium & Copthorne Hotels, which was subject to a failed takeover attempt by the majority shareholder, CDL, in 2025.  ACC rebuffed the $2.80-per-share bid, calling it opportunistic and unreasonable.  Now it's in the box seat if CDL were to re-bid.  The ability to be patient was not to be underestimated, Iverson said.


BusinessDesk article about ACC - 23 April 2026 - final paragraph