Marylebone Warwick Balfour (MWB), the owner of the Malmaison and Hotel du Vin hotel chains, saw its total revenue increase 10.2 per cent to a record £278m and its total EBITDA grow 16 per cent to £31.1m for the 12 months to 31 December 2008.

Malmaison and Hotel du Vin specifically saw revenue increase 13 per cent to £108m and operating EBITDA rise 11 per cent to a record £26m. Malmaison saw occupancy rise 1 per cent to 79 per cent and Hotel du Vin stayed at 81 per cent.

However, the company said that due to the current economic climate, it didn't plan to open any hotels in 2009, despite opening four last year.

Robert Cook, chief executive of the Malmaison and Hotel du Vin Group, said: "We recognise that we have to work hard to maintain our position as market leaders in the boutique hotel market, but I believe we have the experience and the product to achieve our goals.

"2009 is not going to be an easy year but it has started well and we relish the challenge provided by the present market conditions and I believe we have both the people and the service to meet that challenge."