Hotel chain Malmaison says the business is continuing to trade profitably, despite a key shareholder going into administration.
MWB Group Holdings was taken into administration last week but the future of Malmaison which runs the hotel at Oxford Castle, is secure according to chief executive Gary Davis.
Mr Davis said: “We are a separate trading company and we have our own funding. Malmaison is not in administration and no hotels will be sold. Oxford Castle is a star performer with an occupancy rate of 89 per cent.”