• MWB and JJW report robust numbers

Marylebone Warwick Balfour and JJW Hotels have in the past week joined Accor in reporting robust trading numbers for the year 2007.

MWB said all internal EBITDA and cashflow targets were hit and JJW announced what it described as a "record breaking profit".

Trading in MWB's Malmaison group was similarly described as excellent and in an update ahead of the full figures to be unveiled in March. Occupancy for the year was steady at 79% but rate was up 8% to £115. The directors said they were confident that trading in 2008 will be strong.

The total number of operating hotels now stands at 22 thanks to opening in Liverpool, Reading, Cheltenham, Cambridge and York. A further four hotels are under construction at Poole, Newcastle, Edinburgh and Aberdeen. An existing operating hotel has been bought in St Andrews and a further three sites are in advance stages of negotiation including ones in Chester and Canterbury.

Meanwhile, JJW, which in the summer bought the Eton Collection of boutique hotels, said it had achieved $276m in profits in 2007 against $66m in 2006. It said $1bn had been invested in Europe, mainly in the UK, Austria, France and Portugal. This year it plans to invest $1.5bn in hotels in Europe and the US.

 

 

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