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Malmaison and Hotel du Vin remain positive for 2008

10 January 2008 by

The owner of boutique hotel chains Malmaison and Hotel du Vin today said the outlook for 2008 is "extremely positive" despite uncertainty over consumer spending.

Marylebone Warwick Balfour (MWB) said trading in the Malmaison group, which includes Hotel du Vin, was "excellent" over the 12 months to 31 December 2007, meeting all targets.

Occupancy for the year was maintained at 79% and average room rate for the year was up 8% at £115, leaving MWB directors confident that trading in 2008 will be strong.

Last year, there were new Malmaison openings in Liverpool, Reading, Cheltenham, Cambridge and York, taking the total number of operating hotels to 22.

A further four hotels at Poole, Newcastle, Edinburgh and Aberdeen are under construction or renovation and are due to open during 2008.

In addition, MWB last week acquired the St Andrews Golf Hotel in Scotland for conversion to a Hotel du Vin, while a further three sites are in advanced stages of negotiation, including sites at Chester and Canterbury.

MWB is offering Malmaison and Hotel du Vin for sale for around £700m, but the process has been delayed due to the uncertainty in the financial markets.

Hotel du Vin acquires St Andrews Golf Hotel >>

Police now treating Hotel du Vin fire as arson >>

Malmaison eyes foreign markets for expansion >>

MWB delays Malmaison sale >>

Malmaison and Hotel du Vin bid made >>

By Daniel Thomas

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TagsFinance and Hotels
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