Maybourne Hotel Group reports losses of £4.6m

12 January 2022 by
Maybourne Hotel Group reports losses of £4.6m

Maybourne Hotel Group – including the five-star Claridge's, Berkeley and Connaught hotels in London – has reported a pre-tax loss of £4.6m for 2020.

In documents filed with Companies House, the group reported turnover of £10.9m, a decrease of 24.3% on 2019, with net liabilities of £7.5m.

The group said it was "dependent" on the financial support of its owners for operating and capital expenditure obligations, and that it had received assurances from Hamad bin Jassim Al Thani pledging to support the company for at least 12 months.

Management expressed confidence in the recovery of the travel and leisure market and the business's ability to meet its obligations, with a "gradual return" of operating profits and cash inflows forecast for the first and second quarters of 2022 and a more optimistic outlook for 2023.

The portfolio also includes the Maybourne Beverly Hills in the USA and the Maybourne Riviera in France.

Continue reading

You need to be a premium member to view this. Subscribe from just 99p per week.

Already subscribed?

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking