Premier Inn Owner Whitbread Flags Higher Costs, Posts Higher Total Sales

By Dave Simpson
Premier Inn Owner Whitbread Flags Higher Costs, Posts Higher Total Sales

Premier Inn owner Whitbread WTB.L on Wednesday 15 June flagged higher costs for full-year 2023 on tight labour supply, after reporting higher total sales in the first quarter as hotel stays in Germany and UK rose as pandemic-led curbs eased.

Details

The hotel chain operator said that the group's total sales in the 13 weeks ended 27 May was 244.9% higher from the same period in full year 2022.

BRIEF-Whitbread Says Increasingly Confident Of Strong First Half Performance

The above news was followed by the below brief.

Whitbread PLC WTB.L:

  • WHITBREAD PLC - Q1 TRADING UPDATE
  • WHITBREAD - QTRLY TOTAL UK ACCOMMODATION SALES 235.6% AHEAD VERSUS FY22 (31.0% AHEAD VERSUS FY20)
  • WHITBREAD - REPLACEMENT OF EXISTING DEBT FACILITY WITH NEW £775M FIVE-YEAR REVOLVING CREDIT FACILITY
  • WHITBREAD - PREMIER INN UK HAS TRADED STRONGLY DURING FIRST THREE MONTHS OF FY23 AND BASED ON IMPROVED VISIBILITY OF Q2, WHERE WE ARE C.40% BOOKED
  • WHITBREAD - WE ARE INCREASINGLY CONFIDENT OF DELIVERING A STRONG FIRST HALF PERFORMANCE
  • WHITBREAD - WE REMAIN POSITIVE ABOUT OUR CONTINUED MARGIN RECOVERY IN UK IN FY23
  • WHITBREAD - LABOUR SUPPLY REMAINS TIGHT , WE EXPECT SOME ADDITIONAL COSTS DUE TO TARGETED PAY INCREASES
  • WHITBREAD - UK TOTAL FOOD AND BEVERAGE SALES HAVE RECOVERED WELL THROUGHOUT FY22 AND INTO FY23 AND ARE APPROACHING PRE-COVID LEVELS
  • WHITBREAD - IN GERMANY, TRADING OVER LAST TWO MONTHS POST LIFTING OF GOVERNMENT RESTRICTIONS HAS BEEN AHEAD OF OUR EXPECTATIONS
  • WHITBREAD - OPTIMISTIC FY OUTLOOK IN GERMANY IS IMPROVING
  • WHITBREAD - IN GERMANY, OUR OPEN HOTEL ESTATE NOW STANDS AT 40 HOTELS, WITH A FURTHER 38 HOTELS IN PIPELINE
  • WHITBREAD - SINCE LIFTING OF RESTRICTIONS, GERMAN HOTEL MARKET HAS RECOVERED MORE STRONGLY OCCUPANCY LEVELS WERE 64.7% IN LAST FOUR WEEKS OF QUARTER
  • WHITBREAD - REPLACEMENT OF EXISTING DEBT FACILITY WITH NEW £775M FIVE-YEAR REVOLVING CREDIT FACILITY

Source text for Eikon: Read full story

ADVERTISEMENT

Further company coverage: WTB.L

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.