Marylebone Warwick Balfour (MWB), operator of the Malmaison and Hotel du Vin hotel brands, has said that its outlook for 2008 is extremely positive despite the current credit crunch and uncertainty over consumer spending.
It said trading in the Malmaison Group, which includes Hotel du Vin, had been excellent in the 12 months to the end of 2007, with all internal Ebitda and cashflow targets for the year met.
The company said that occupancy for the year was maintained at 79%, while average room rate climbed 8% to £115.
The group said it was confident that trading across Malmaison and Hotel du Vin in 2008 would be strong.
It opened five new properties during the year, in Liverpool, Reading, Cheltenham, Cambridge and York, taking its number of operating hotels to 22.
It said that all the new hotels were trading successfully.
The company said that a further four hotels in Poole, Newcastle, Edinburgh and Aberdeen were currently under construction or renovation and are due to open during 2008.
Earlier this week it acquired the St Andrews Golf Hotel in Scotland for conversion to a Hotel du Vin, while it is in advanced stages of negotiation on a further three sites, including properties in Chester and Canterbury.
