Hotel du Vin and Malmaison owner posts £10m loss
Hotel du Vin and Malmaison owner Frasers Hospitality UK Holdings reported a £10m pre-tax loss last year as coronavirus restrictions continued to hit trade.
The group said trading conditions since the start of the pandemic had been "some of the most challenging seen for some years" and revenues were "significantly impacted".
But losses for the year ended 30 September 2021 narrowed compared to the previous 12 months, when Frasers Hospitality posted an £82.7m pre-tax loss.
The group's hotels performed strongly towards the end of 2021 in what continued to be a "volatile and challenging market", the company said.
Frasers Hospitality reported revenue of £78.8m for the period, down from £87.4m in 2020 and earnings before interest, taxes, depreciation and amortisation of £16.5m, up from £1.8m in 2020.
"The directors remain optimistic in the group's ability to thrive and deliver growth as global markets recover and adapt, with encouraging signs in the level consumer demand for the range of services the group has to offer," the company said.
Frasers Hospitality bought the Malmaison and Hotel du Vin chains for £363.4m in 2015.
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