MWB, the UK listed hotels and serviced office group, has hit out at media suggestions that the CEO of the hotel division had quit due to a dispute over refinancing.
MWB, the UK listed hotels and serviced office group, has hit out at media suggestions that the CEO of the hotel division had quit due to a dispute over refinancing.
In a statement on Friday MWB noted the 'misleading press comment' regarding the departure of Robert Cook as CEO of Malmaison and Hotel du Vin, the group's boutique hotel business.
MWB said group CEO Richard Balfour-Lynn and Robert Cook have not fallen out over the hotels division re-financing and its strategy of reducing debt through the sale-and-leaseback of five Malmaison properties which raised more than £100 mln.
The strategy had Robert Cook's full support, the company said.
Robert Cook said in the MWB statement: 'I haven't fallen out with Richard and our relationship remains as strong today as it has been for the last eight years. To reiterate, my absolute reason for leaving is that I have actually spent 12 years with Malmaison and Hotel du Vin and it is time for me to apply my skills in another business within the hospitality space.
'I was committed to see the refinancing through, as I particularly wanted to secure a solid foundation for the business and its people going forward, which has now been achieved. Furthermore I am helping Richard to find a suitable successor.'
PropertyEU's report on Cook’s departure did not include any comment referred to in MWB's statement.
