Balfour-Lynn, who was also a director of the parent company MWB Group Holdings described the move as “a hard decision”.
He added: “I have been with MWB Group most of my working life. I will remain a committed and supportive shareholder and have every confidence in both the Board of MWB Group and the management teams to take the Group to the next stage of its development.
“We have two growing subsidiaries with strong brands MWB Business Exchange, Malmaison and Hotel Du Vin.”
Balfour-Lynn founded the company 30 years ago as Warwick Balfour Properties, which was primarily focused on investment and development. The two hotel brands under the current parent business currently operate 26 hotels.
He also co-founded the Alternative Hotels Group (AHG) which is parent company to the De Vere group of hotels, and also owns several meeting venues and health clubs, as well as G&J Greenall, a vodka and gin distillery.
Eric Sanderson, the group’s chairman said: “Richard is an exceptional entrepreneur who has built up a major hotel and business services group. He has always been passionate about developing great hospitality in the business.
“We would like to thank him for his drive and enthusiasm in building some exceptional brands.”