5 Minutes with Sudheer Raghavan, service Guru Millennium & Copthorne Hotels plc.(Interview)

Hotels, May, 2006

HOTELS: What's new with Millennium in the Americas?

Raghavan: We have 19 properties in the U.S. If you look at the locations of these properties, in many gateway cities we are absent today: Washington, D.C., San Francisco, Miami. Development plans are to find ourselves in these sort of cities in a 1-2 year time frame.

My gut feeling is it could be joint-ventures, or acquisitions to joint-ventures, but I suspect there will not be brand new builds. We want to get management contracts--we may take a sliver stake, or joint-venture with third-parties to develop existing properties with rights to manage them.

HOTELS: Will you look to do mixed-use development anywhere?

Raghavan: We are exploring a few existing properties to do mixed-use...

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