Mallard Co Ltd, operator of the Qawra Palace Hotel, more than doubled its profit during the financial year ended 31st March 2026, reaching €3.7 million.

According to the company's published financial analysis, profit stood at €1.7 million in the previous financial year.

Revenue also increased by almost €5 million, reaching €27.3 million, following the refurbishment of the hotel. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by around 25 per cent to €8.5 million.

Qawra Palace plc itself operates as a holding company for the physical building, and largely generates revenue from the rent received from Mallard Co Ltd.

During the year, the hotel opened its fifth restaurant, which the company said has been “well received” by both hotel guests and local customers.

The hotel also introduced a micro market on its premises, offering guests a self-service retail experience. Customers can browse a selection of products displayed on shelves and in refrigerated units, select their purchases and complete payment through a self-service kiosk.

Works also continued on the replacement and upgrading of drainage and piping systems serving the hotel's 394 guest rooms in the older section of the building.

Meanwhile, the hotel's unused rooftop area, which was originally designed to accommodate a restaurant, is planned to be transformed into a large heated indoor infinity pool.

A second rooftop area is also earmarked for development.

According to the financial analysis, the architectural concept and visual design for the project have been completed and the architectural plans prepared. The hotel is currently awaiting the required Planning Authority permit before construction can begin.