Millennium & Copthorne Hotels New Zealand Limited provided a detailed update to the market about the effects of the New Zealand Government's new border entry restrictions due to COVID-19 on its future hotel trading and operations. The company was now forecasting that the level of hotel revenue loss for the first half of 2020 would be approximately NZD 24 million based on its current information. If the current trading patterns continue into the second half of 2020, it is anticipated that the 2020 full year result for the hotel operations would run at a loss. The company received confirmation from its insurers that these losses are not covered by business interruption insurance as the hotels are not closed by COVID-19.