The buyout of lifestyle hotel group Malmaison by Marylebone Warwick Balfour (MWB) has helped to boost turnover within the property company's hotels division but has also widened its pre-tax losses.
In the 12 months to 30 June, turnover more than doubled to £62.2m but pre-tax losses increased from £4.3m to £7.6m. MWB said the hotels division had "endured difficult trading conditions" but said the situation was now "largely stabilised"