Laura Ashley opens hotel as numbers fall

Retailer Laura Ashley revealed it has opened a boutique hotel in Hertfordshire, as it posted a fall in full-year profits today.

Laura Ashley bought the hotel at an unspecified location for £5.8 million to showcase its home accessories, furniture and decorations.

But the chain said it had no plans to open more hotels. Pre-tax profits at the retailer fell 2.6% to £18.8 million.