Industry Update
Appointment31 March 2020

Clarence Tan

Appointed Chief Executive Officer
At Millennium & Copthorne Hotels plc in London, United Kingdom

Clarence Tan

City Developments Limited has announced the appointment of Clarence Tan as the Group Chief Executive Officer for Millennium & Copthorne Hotels Limited - the Group's wholly-owned hospitality subsidiary - with effect from 2 April 2020.

As the first CEO for the privatised M&C, Mr Tan will spearhead a turnaround in the performance of M&C's global hotel portfolio which encompasses 150 hotels and 43,500 rooms worldwide, many in key gateway cities. Reporting to CDL and M&C Executive Chairman Mr Kwek Leng Beng, he will work closely with the CDL leadership team to deliver sustainable hotel performance by focusing on achieving synergies, cost efficiencies and driving profitability. Mr Tan's timely appointment will offer stability to M&C and comes at a time when the COVID-19 pandemic has significantly affected the global hospitality industry.

Mr Tan has over 20 years of global hospitality experience, with a track record in hotel development and management, financial management, merger and acquisitions, integration, partnerships and joint ventures, as well as people development. He has deep experience in international hotel chain management, having headed several regions as CEO or Chief Operating Officer. He was most recently the Managing Director for South East Asia and Korea with InterContinental Hotels Group (IHG) where he was responsible for the growth, financial and operational performance of about 100 hotels in South East Asia and Korea. Under his stewardship, the business delivered US$1.2 billion in hotel revenue to the London-listed IHG at a healthy margin and added to their system size and pipeline.

Millennium & Copthorne Hotels plc

Millennium Hotels and Resorts is the umbrella brand of Millennium & Copthorne Hotels plc, a global hospitality management and real estate group, listed on the London Stock Exchange (LSE: MLC). The company owns and/or manages a worldwide portfolio of more than 136 hotels, offering over 40,000 rooms in business and leisure destinations in Asia, Australasia, Europe, the Middle East and North America.
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