Richard Hartman, a Non-Executive Director of FTSE 250 firm Millennium and Copthorne Hotels, sold 132,694 shares in the company on April 3rd at a price of 478.00p each.
The £634,277 transaction followed the vesting of around 479,000 shares under the firm's long term incentive plan on March 30th 2009.
The company, which owns and manages over 100 hotels globally, has seen its stock fall almost 7% over the past year, equivalent to 34p.
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In February the firm reported a strong third quarter, with the revenue per available room up 7.8% compared to the third quarter of 2010.
On a like-for-like basis headline profit increased 19.9% to £42.1m on revenues of £198.2m (excluding a £44.2m land sale in Malaysia).
The problem for Millenium and Copthorne is the euro debt crisis which is having a chilling effect on business in Europe. In his statement the company's chairman Kwek Leng Beng acknowledges that the firm is "noticing more caution amongst business customers, reflecting anxiety about events affecting the Eurozone."
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