MWB ditches Bistro du Vin, admits “challenging” trading period
MWB, the parent group behind Malmaison and Hotel do Vin, has announced it is selling its Bistro du Vin restaurants.
The two restaurants in London’s Soho and Clerkenwell areas have been sold for £1.2 million as the group instead attempts to focus “complete attention … on the core business”.
An Interim Management Statement published by the company yesterday stated that “losses have continued to accumulate in the nine months to 31 March 2012”.
Room occupancy rates in the group’s hotels have held up compared with last year but “continued pressure on room rates, particularly in competitive city markets, has led to a slight reduction in Malmaison revenues per available room,” according to the statement.
MWB recently appointed Gary Davies and Paul Roberts as CEO and Finance Director, respectively, and the management statement says a review of the business has already “to deliver savings and efficiencies.”
Work is currently underway on the next addition to the Malmaison chain – a 91 bedroom hotel in Dundee due to open in July 2013.
