MWB Group reported trading was in line with expectations during the third quarter despite difficult market conditions. The interim report for the period 1 July 2008 to 1 October 2008, showed that the group's hotel division was maintaining occupancy although there was a softening in room rate due to tightening corporate demand.
MWB Group reported trading was in line with expectations during the third quarter despite difficult market conditions. The interim report for the period 1 July 2008 to 1 October 2008, showed that the group's hotel division was maintaining occupancy although there was a softening in room rate due to tightening corporate demand.
The company said its boutique hotel group, Malmaison and Hotel du Vin, in which MWB holds an 82.5% interest, had opened a further 37 room Hotel du Vin in Poole at the end of September. The group now has 23 operating hotels with over 1,700 rooms. A further three hotels will open during the remainder of the second half of 2008, Newcastle (October) and Edinburgh (November) both Hotel du Vin properties with a total of 89 rooms and Aberdeen also opening in November, an 80 bedroom Malmaison. This will take the total to 26 hotels, of which 14 will be Hotel du Vin and 12 Malmaison.
Eric Sanderson, MWB Chairman, commented: 'Despite turbulent financial markets and the impact of the credit crunch, I am pleased to report that our three operating divisions are currently performing well and in line with the Board's expectations'.
